Robert Murphy will teach Principles of Economics, an online class for all ages that will use his book Lessons for the Young Economist. The class will consist of eight weeks of fantastic economics instruction from the ground up. His book, which is sure to become a standard text in the future, will be used in this class. The class is designed for high school students, but it is the ideal class for gaining a solid foundation in economic science at any age. The focus is on the Austrian understanding. The knowledge gained will establish a rock-solid basis for all future studies in economics. The goal is to present economics in the same way that it was given to Mises, Hayek, and Rothbard early in their schooling, a paradigm to inspire a lifetime of understanding and scholarship. No prior exposure to economic logic is required. Students may opt out of quizzes, tests, and grading.
The video lectures are online. Lectures will be Wednesday evenings, 6:30 – 8:00 pm Eastern Time. They will be recorded and made available for enrolled students to download.
- Thinking Like an Economist
- How We Develop Economic Principles
- Economic Concepts Implied by Action
- “Robinson Crusoe” Economics
- The Institution of Private Property
- Direct Exchange & Barter Prices
- Indirect Exchange and the Appearance of Money
- The Division of Labor & Specialization
- Entrepreneurship & Competition
- Income, Saving, and Investment
- Supply & Demand
- Price Control
- Tariffs and Quotas
- The Economics of Drug Prohibition
Readings include primary documents, works by contemporaries, and recent scholarship and commentary.A full hyper-linked syllabus with readings for each weekly topic will be available for all students.
Grades and Certificates
The final grade will depend on quizzes. Taking the course for a grade is optional. This course is worth 3 credits in our own internal system. Feel free to ask your school to accept Mises Academy credits. You will receive a digital Certificate of Completion for this course if you take it for a grade, and a Certificate of Participation if you take it on a paid-audit basis.
If you drop the course during its first week (7 calendar days), you will receive a full refund, minus a $25 processing fee. If you drop the course during its second week, you will receive a half refund. No refunds will be granted following the second week.