Money & Banking

This three-section course gives the student a coherent Austrian economics approach to money and banking with sound economic theory applied to the origins and development of money, fractional reserve banking, and central banks.

Instructors

Philipp Bagus is professor at Universidad Rey Juan Carlos. He is a Fellow of the Mises Institute, an IREF scholar, and the author of numerous books including In Defense of Deflation and The Tragedy of the Euro, and is coauthor of Blind Robbery!, Small States. Big Possibilities.: Small States Are Simply Better!, and Deep Freeze: Iceland’s Economic Collapse. He was awarded the 2011 and 2017 O.P. Alford III Prize in Libertarian Scholarship, the Ron Paul Liberty in Media Award (2003), the Templeton Fellowship Award of the Independent Institute in 2008, and the Ludwig-Erhard-Forderpreis (2016).

Joseph T. Salerno received his PhD in economics from Rutgers University. He is professor emeritus of economics in the Lubin School of Business of Pace University in New York City. He is the editor of the Quarterly Journal of Austrian Economics and the Academic Vice President of the Mises Institute where he serves on the Board of Directors. Professor Salerno also held the inaugural Peterson-Luddy Chair in Austrian Economics at the Mises Institute and the inaugural John V. Denson II Endowed Professorship in the economics department at Auburn University.

Murray N. Rothbard (March 2, 1926 – January 7, 1995) was an economist, scholar, intellectual and polymath who made major contributions in economics, political philosophy (libertarianism in particular), economic history and legal theory. He developed and extended the Austrian School of economics based on the earlier pioneering work of Ludwig von Mises. Rothbard eventually established himself as the principal Austrian theorist in the latter half of the twentieth century and applied Austrian analysis to historical topics such as the Great Depression of 1929 and the history of American banking. Rothbard authored 25 books including What Has Government Done to Our Money?, The Ethics of Liberty, and Man, Economy, and State as well as thousands of published articles.