Entrepreneurship in a Capitalist Economy

EC130 — with Peter Klein

Dates: -
Status: Closed

Entrepreneurship courses, programs, and activities are springing up not only in business schools, but also in colleges of arts and sciences, engineering, education, social work, and even fine arts. Surprisingly, however, while the entrepreneur is fundamentally an economic agent—the “driving force of the market,” in Mises’s phrase—modern economics maintains an ambivalent relationship with entrepreneurship. Klein’s course, based on his new book, sorts it all out toward the goal of a realistic understanding.

While solidly grounded in Austrian and neoclassical theory, the course emphasizes applications to real-world business problems and implications for current (or budding) entrepreneurs, managers, and concerned citizens.

There are no formal prerequisites other than intellectual curiosity and a willingness to learn. The course is designed at the undergraduate/MBA level, though graduate students, executives, and other professionals are welcomed.

Weekly Topics:

  • Concepts of Entrepreneurship
  • Production and Cost
  • The Theory of the Firm: Introduction
  • The Boundaries of the Firm
  • Organizational Design
  • Corporate Governance and Corporate Control
  • The Corporation and the State


Live lecture sessions will be held on Tuesdays at 6pm EDT, and will include 60 minutes of lecture followed by a 30 minute question and answer period.  (Live lectures will be recorded and available for viewing afterwards.)

Office Hours:

Office Hours will be held on Thursdays from 10 am-11:30am EDT.

Books Available at the Mises Store

Several excerpts from the following books are assigned readings in this course. (Note: Purchasing these books is NOT required. All readings in this course are available online for free.)

Professor Klein’s new book, Entrepreneurship in the Capitalist Economy, is a primary text for the course and is available for purchase on line.

An Introduction to Austrian Economics by Thomas C. Taylor

Final Grade, Transcript, and Certificate of Completion:

The final grade will depend on participation (in both lecture and discussion sessions), essays, quizzes, and the final exam. Students will have access to a digital transcript for the course. We will add any future grades for future Mises Academy courses taken to this transcript. Students will also receive a digital, printable Certificate of Completion.

Refund Policy

If you drop the course during its first week (7 calendar days), you will receive a full refund.
If you drop the course during its second week, you will receive a half refund.
No refunds will be granted following the second week.


Peter Klein

Peter G. Klein is Associate Professor in the Division of Applied Social Sciences at the University of Missouri and Director of the McQuinn Center for Entrepreneurial Leadership. He also holds appointments with the Truman School of Public Affairs and the Norwegian School of Economics and Business Administration. His research focuses on the boundaries and internal organization of the firm, with applications to diversification, innovation, entrepreneurship, and financial institutions. He taught previously at the University of California, Berkeley, the University of Georgia, and the Copenhagen Business School, and served as a Senior Economist with the Council of Economic Advisers. He is also a former Associate Editor of The Collected Works of F. A. Hayek. He lectures regularly at the Mises University and other Mises Institute events.

Klein received his Ph.D. in economics from the University of California, Berkeley and his B.A. from the University of North Carolina, Chapel Hill. He is editor of two books and author of many scholarly articles and book chapters. See here for his complete vita and here for his website at the University of Missouri.

Check out his blog, Organizations and Markets.

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