Robert Murphy will teach Principles of Economics in the Winter of 2011 , an online class for all ages that will use his book Lessons for the Young Economist. (Professor Murphy discusses his plans for the course in his article Learn Principles of Economics Online.) The class will run from January 26 until March 30, ten 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. Enrollment in the class is $150 and covers all materials, weekly lectures, office hours, quizzes, grading, and final exam. 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.
Live Sessions:
The weekly live video-broadcast lectures will be Wednesdays from 6:00 7:30pm EST. Live attendance is not required; recordings of all live sessions will be made available to students.
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Also every week Professor Murphy will hold “office hours” (extended question-and-answer sessions). Details TBA.
Weekly Topics:
- 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
Reading:
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.
The primary text for the course will be Murphy’s new book Lessons for the Young Economist, which ). This books will be available both for purchase and as a free PDF download (click here for a draft version of the text).
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.
At this time the Mises Academy does not offer transferable credits, certifications, or degrees.
Refund Policy
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.
Course Screenshot
Click the thumbnail below to see a large screenshot of the course (and click the image again, if your browser automatically shrinks it, to make it full size).
