A Sneak Peek at Our Austrian Economics Course

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Jeff Herbener, chairman of the economics department at Grove City College and a senior fellow of the Ludwig von Mises Institute, has just completed his course on Austrian economics for us! It’ll be up on the site by next month, along with recommended readings to accompany each lecture (as we have with all our courses). Here’s how the course is organized:

I. Scope and Method of Economics

Method of Economics
Scope of Economics: Human Action

II. Laws of Personal Action

Implications of Human Action
Laws of Utility
The Law of Returns
Capital Formation

III. Laws of Voluntary, Interpersonal Action

Voluntary Exchange
The Division of Labor
The Unhampered Market Economy
Prices of Consumer Goods
Prices of Producer Goods
Economic Calculation
Profit and Production Decisions
Equity and Investment Decisions
The Capital Structure
Competition and Monopoly
The Time Market: The Rate of Interest
Income: Sources and Disbursements
The Money Market: The Purchasing Power of Money
Bond Markets
Stock Markets
Economic Progress

IV. Laws of Involuntary, Interpersonal Action

Booms and Busts
Money and Banking
Monetary Policy: Monetary Inflation and Credit Expansion
The Business Cycle
Fiscal Policy
Interventionism: Price Controls
Interventionism: Product Controls
The Mixed Economy
The Command Economy: Socialism and Fascism

I have known Professor Herbener for nearly 20 years. He is one of the most knowledgeable Austrian economists we have. I would give my right arm to study under him, which is why I was so thrilled when he agreed to come on board with us.

In the meantime, check out this great interview with Professor Herbener.

And, of course, if you haven’t yet joined us at Liberty Classroom, go ahead and sign up! Members enjoy a boatload of benefits — downloadable courses (video or audio), live Q&A sessions with our faculty, recommended readings for all our lectures, video and audio formats for every lecture according to your preference, and discussion forums where you can ask us questions and exchange ideas. For the equivalent of one movie ticket a month, get access not just to one course but to everything we have. Be a part of it!

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