Principles of Economics

IS_Econ_PE — with Robert P. Murphy

Cost: $69   Length: 8 Lectures
Format: Independent Study
Status: Open for enrollment
Program: Mises Academy Certificates: Austrian Economics, Level One

About the Course

This course consists of eight lectures of fantastic economics instruction starting from the ground up and utilizing Professor Murphy’s textbook Lessons for the Young Economist. Though the textbook was written with a high school student audience in mind, the course itself is ideal for anyone looking for a solid intellectual foundation in Austrian Economics. The goal is to present economics in the same way that it was presented to Mises, Hayek, and Rothbard early in their schooling in order to inspire a lifetime of understanding and scholarship.  No prior exposure to economic logic is required.

Topics covered in this course include:

  • 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
  • Inflation


All readings for this course are free, available online, and provided to students in a fully-hyperlinked syllabus.

Independent Study

Independent study courses are courses that were presented live in the past. These courses are now offered at a discount to anyone who wants to study independently. All courses include lecture recordings, slides, a complete hyper-linked syllabus, automatically-graded quizzes, and a discussion forum. Professors are not available for academic support for these independent study courses.

Sample Certificate of Participation

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