Introduction to Austrian Economics

Learn the fundamentals of Austrian Economics and apply them to socialism and business cycles

4.35 (55 reviews)
Udemy
platform
English
language
Economics
category
instructor
Introduction to Austrian Economics
202
students
2.5 hours
content
Sep 2019
last update
$74.99
regular price

What you will learn

Human action, value, and prices

The capital structure, production, and interest

Two applications: socialism and Austrian Business Cycle Theory

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


Content

Introduction

Introduction

The Austrian Method

Preface: The Austrian Method
Empiricism vs. Logical Deduction
Praxeology and Human Action
The Austrian Method

Subjective Value

Preface: Subjective Value
Preferences: Subjective and Ordinal
Opportunity Cost and Diminishing Marginal Utility
Subjective Value

Production

Preface: Production
The Capital Structure
Factors of Production
Production

Exchange

Preface: Exchange
Double Coincidence of Wants
Supply and Demand
Exchange

Money and Banking

Preface: Money and Banking
Money: Definition, Characteristics, and Functions
Fractional vs. Full Reserve Banking
Money and Banking

Time Preference and Interest

Preface: Time Preference and Interest
The Universal Law of Time Preference
Interest
Time Preference and Interest

Conclusion: Two Applications

Preface: Conclusion
Economic Calculation and Socialism
Austrian Business Cycle Theory
Conclusion
Recommended Reading
Acknowledgements

Reviews

Murali
May 3, 2023
Looks too basic, it should have explained more , may be another couple of hours of concepts would have made course good
Emmanuel
March 24, 2021
A structured and condensed approach to Austrian economics which gives a real foundation to learn and think.
Nicholas
February 22, 2021
I really enjoyed your course. For me this journey began with being curious and doing my own research. For me to understand I had to dive through different narratives but it lead me to want to study Austrian Economics as another tool of knowledge for my own personal future. It has been a pleasure completing this course. And I hope that there may be more that I can dive into to continue to expand my knowledge. Thank you. -Nick P.
John
June 8, 2020
Fantastic overview of Austrian Economics. Great primer for a young economist, or review for someone who's a bit rusty on their econ!
Richard
December 7, 2019
I've been a student of Austrian economics for about a decade. I took this course to reaffirm my understanding of the basics...

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Related Topics

2515554
udemy ID
8/19/2019
course created date
3/11/2021
course indexed date
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