Introduction to Austrian Economics
4.8 (10 ratings)
Course Ratings are calculated from individual students’ ratings and a variety of other signals, like age of rating and reliability, to ensure that they reflect course quality fairly and accurately.
55 students enrolled

Introduction to Austrian Economics

Learn the fundamentals of Austrian Economics and apply them to socialism and business cycles
4.8 (10 ratings)
Course Ratings are calculated from individual students’ ratings and a variety of other signals, like age of rating and reliability, to ensure that they reflect course quality fairly and accurately.
55 students enrolled
Created by Jonathan Newman
Last updated 9/2019
English
English [Auto]
Current price: $34.99 Original price: $49.99 Discount: 30% off
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This course includes
  • 2.5 hours on-demand video
  • 8 articles
  • 1 downloadable resource
  • Full lifetime access
  • Access on mobile and TV
  • Certificate of Completion
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What you'll learn
  • Human action, value, and prices
  • The capital structure, production, and interest
  • Two applications: socialism and Austrian Business Cycle Theory
Requirements
  • There are no requirements except an interest in Austrian Economics
Description

"People may disagree on the question of whether everybody ought to study economics seriously. But one thing is certain. A man who publicly talks or writes about the opposition between capitalism and socialism without having fully familiarized himself with all that economics has to say about these issues is an irresponsible babbler." - Ludwig von Mises

This course will introduce the fundamental concepts of Austrian Economics. At the end of the course, these fundamentals will be applied to socialism and business cycles. The Austrian critique of socialism and the Austrian Business Cycle Theory are two of the most important contributions of Austrian Economics.

Here are the steps to get there:

  • The Austrian Method

  • Human Action

  • Subjective Value

  • Production

  • Exchange

  • Money and Banking

  • Time Preference and Interest


Who this course is for:
  • Beginners who want a broad but easy introduction to Austrian Economics
Course content
Expand all 25 lectures 02:42:47
+ The Austrian Method
3 lectures 20:55
Preface: The Austrian Method
00:37
Praxeology and Human Action
12:04

Test your knowledge on empiricism, logical deduction, and praxeology.

The Austrian Method
1 question
+ Subjective Value
3 lectures 18:05
Preface: Subjective Value
00:19
Preferences: Subjective and Ordinal
08:13
Opportunity Cost and Diminishing Marginal Utility
09:33

Test your knowledge on subjective value, preference rankings, opportunity cost, and diminishing marginal utility.

Subjective Value
1 question
+ Production
3 lectures 21:25
Preface: Production
00:48
The Capital Structure
11:52
Factors of Production
08:45

Test your knowledge on the capital structure and the factors of production.

Production
1 question
+ Exchange
3 lectures 18:46
Preface: Exchange
00:16
Double Coincidence of Wants
08:02
Supply and Demand
10:28

Test your knowledge on exchange, supply, and demand.

Exchange
1 question
+ Money and Banking
3 lectures 20:43
Preface: Money and Banking
00:29
Money: Definition, Characteristics, and Functions
12:22
Fractional vs. Full Reserve Banking
07:52

Test your knowledge of money, its characteristics and functions, and fractional reserve banking

Money and Banking
1 question
+ Time Preference and Interest
3 lectures 19:25
Preface: Time Preference and Interest
00:41
The Universal Law of Time Preference
09:08
Interest
09:36

Test your knowledge of time preference and interest.

Time Preference and Interest
1 question
+ Conclusion: Two Applications
6 lectures 38:36
Preface: Conclusion
00:41
Economic Calculation and Socialism
10:04
Austrian Business Cycle Theory
12:07
Conclusion
07:33
Recommended Reading
07:59
Acknowledgements
00:11