Austrian Economics Core Curriculum

The Austrian Economics Core Curriculum introduces the fundamentals of Austrian Economic thought. Beginning with Praxeology, the science of human action, and proceeding systematically through subjective value and the division of labor to entrepreneurship and business cycles, the student is given a solid foundation in Austrian Economics principles.

Praxeology
The Core Curriculum course lays out the fundamentals of Austrian Economics. Drawing on the tradition of Mises and Rothbard, the course begins with Praxeology, the study of human action, from which economic principles are deduced. An exposition of subjective value and the division of labor follow, providing the requirements for exchange and markets. From there, the concepts of money’s origin and value are explored, with the interest rate coordination of consumer preferences and the structure of production and business cycles. Finally, the crucial role of the entrepreneur in the market economy and economic calculation are explained.