The author addresses what is versus what should be taught in economics at the tertiary level and the way economics is taught versus how it should be taught. He argues that we need to assist students in recognizing the shortcomings of simplistic analyses of old before students rightly dismiss them as irrelevant and then wrongly dismiss all of economics as extraneous to modern day life. We need to bring the innovations in the science of economics into our teaching of economics. Similarly, we need to move beyond the outdated chalk and talk lecture methods to the active learning techniques made available by experimental economics, games and simulations, and the internet.