9 Aug 2010

Harvard teaching changes after global economic crisis

2:59 pm on 9 August 2010

The new head of the Harvard Business School says graduates are being taught to think more broadly in the wake of the financial crisis.

Critics of prestigious institutions such as Harvard say they have bred a generation of gifted but arrogant and over-confident chief executives, the BBC reports.

The top three Wall Street banks in 2008 were all run by men with MBA degrees from Harvard.

While its alumni include many of America's political elite, such as George W Bush, and former Treasury secretary Hank Paulson; Enron's president, Jeffrey Skilling, was also a Harvard graduate.

The school's newly appointed dean, Nitin Nohria, says staff have done a lot of soul searching since the financial crisis.

He said they asked themselves how much they should educate students to think hard about downside risks and help them understand issues of contagion - the impact of the failure of one product on another.