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Introduction to Austrian Economics

Name: Introduction to Austrian Economics
Rating: 4.6 (16 reviews)

Principles of Austrian Economics and their application to the real world

Created byAntony P. Mueller

Last updated 1/2025

English

What you'll learn

Learn what makes Austrian Economics unique
Learn about the main contributions of Austrian Economics
Learn the main principles of praxeology
Learn to understand the role of property and markets

Course content

9 sections • 31 lectures • 5h 31m total length

What is unique about the Austrian School?5:53
This introductory lecture presents insight into the uniqueness of the Austrian School in its relation to economic, political, and social issues, and to the conduct of one's individual life.
Invitation to join0:35
What makes Austrian Economics so Unique?6:59
First Principles of Austrian Economics11:30
Detailed Teaching Plan1:28
Video Clip that explains the items that will be treated in the course.
Video Clip of the Teaching Plan8:53
Evaluate the following text
Some remarks about the growing importance of Austrian Economics1:55

Origin and rise of the Austrian School17:54
This video lecture gives an overview of the development of the Austrian School since its inception. It presents the various representatives with their main contributions, beginning with the Spanish School of Salamanca and the modern founder of the Austrian School, Carl Menger, and continuing with the progress made by Böhm-Bawerk, Mises, and Hayek's contributions to Austrian Economics.
Lecture overview2:20
Origin of the Austrian School3:20

Modern Monetary Theory - An Austrian Refutation6:03
The Japanese Economy - Another Victim of Vulgar Keynesianism3:39
The United States. Macroeconomic Facts and Outlook24:42
Based on the insights of Austrian Economics, I analyze the recent performance of the US economy and draw conclusions about its outlook.
Beware of the official government statistics6:05
This article dissects the official government statistics, particularly of the so-called "inflation rate".
Where do prices come from?6:24
Prices, as Carl Menger points out in his Grundsätze, emerge as an accidental phenomenon. They are not the essence of economic activity. Prices are fortuitous insofar as they are the unintended result of an economic exchange that has subjective evaluations as its basis.

What is the Purpose of the Economy?31:39
Full lecture about Carl Menger's concept of the purpose of the economy. On the basis that the economy's purpose is to provide future needs, Carl Menger constructs the theoretical foundation of Austrian Economics.
Introductory Clip to "The Purpose of the Economy"2:28
Short introductory clip to the lecture "The Purpose of the Economy"
Goods and their Classification23:17
Introduction to "Goods and their classification"3:16
Short introductory clip to the full presentation on the classification of goods.
Essay on Carl Menger's lasting legacy9:44
Carl Menger is one of those rare thinkers whose influence grows over time. His work represents a lasting contribution to economics. His “Principles of Economics” is one of the best – maybe “the” best – book to learn how a market economy works.
Epistemology of the Austrian School5:22
Summary of methodological aspects

Requirements

There are no special requirements other than the desire to learn about Austrian Economics

Description

Introduction to Austrian Economics

Course Outline

1. What is unique about Austrian Economics?

A video clip that introduces the central concepts of Austrian Economics, such as human action, time preference, uncertainty, economic calculation, entrepreneurship, market process, and spontaneous order.

2. The rise of the Austrian School

Video slides of the timeline of the history of the Austrian School, presenting the main contributions of the Salamanca School, Carl Menger, Eugen v. Böhm-Bawerk, Ludwig v. Mises, and Friedrich v. Hayek a explaining the relevance of Austrian economics for today.

3. What is “human action”?

Video slides about the definition of human action, and the axiomatic foundation of praxeology. Implications, such as time preference and subjective choice, the rejection of anthropomorphism and hypostasis, and the deduction of the plea for cooperation and friendliness.

4. Uncertainty and contingency

Vido slides about the role of speculation and entrepreneurship. The lecture examines the function of profit and loss in the market economy, the emergence of social order in a world where the future is unknown, and how prices serve as an orientation about allocation of the available resources.

5. Property, markets, and capital

Video slides about private property and free markets for capital accumulation. Explaining the concept of economic calculation in a world void of equilibrium and certainty. How to deal with unexpected change. The role of incentives and information. Markets as a discovery process. How the market economy deals with complexity.

6. Bibliography

PDF with an annotated list of further readings.

Your instructor:

Dr. Antony P. Mueller

Dr. Antony Peter Mueller is a distinguished professor of economics and a renowned scholar of Austrian economics with extensive international teaching and research experience. He has authored multiple books and numerous scholarly articles, contributing significantly to the field of economics.

His most recent book is “A Primer on Austrian Macroeconomics”, to be published in January 2025 by Palgrave Macmillan, London.

Who this course is for:

The study of Austrian Economics brings a perspective to your life by which you not only will see politics, society and the economy in a different light but also learn about the principles of human action.

Introduction to Austrian Economics

What you'll learn

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Course content

Introduction7 lectures • 37min

Rise of the Austrian School3 lectures • 24min

Principles of human action3 lectures • 24min

Uncertainty and contingency2 lectures • 24min

Property, Markets, and Capital2 lectures • 24min

Conclusion1 lecture • 6min

Additional Study Material5 lectures • 47min

Foundational Principles of Austrian Economics6 lectures • 1hr 16min

Summary2 lectures • 1hr 10min

Requirements

Description

Who this course is for: