Courses — Mises Academy

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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,[link widoczny dla zalogowanych], and Rothbard early in their schooling, a paradigm to inspire a lifetime of understanding and scholarship.No prior exposure to economic logic is required.
What is the new, networked economy all about? What are “information goods” and how do they differ from traditional goods? How are online businesses different from brick-and-mortar establishments? Is the large firm with its centralized managerial hierarchy obsolete, to be replaced by decentralized, disaggregated,[link widoczny dla zalogowanych], peer-to-peer communities? Is government regulation needed to keep digital markets free, fair, and open? More generally, does the new economy call for a new kind of economics, or is traditional economics still useful?
This course will present some of the essentials of logic—the science of correct reasoning. Deductive reasoning transmits truth from premises to conclusion. If one starts with true premises, and reasons correctly, the conclusion will be true also. We will identify common fallacies and give examples of these from discussions in politics and economics. The course will emphasize ordinary language reasoning rather than mathematical logic.Although we will stress practical applications, some of the philosophical issues that logic raises will also be covered. Whatever your field of study, you will find a grasp of logic of great help in your work.
This course is taught by Stephan Kinsella, a practicing patent attorney and author of Against Intellectual Property. This is a 6-week course and will run from November 1 until December 17 (with Thanksgiving week off), and will provide an overview of current intellectual property law and the history and origins of IP. The course will explore and offer critical analysis of various utilitarian and deontological justifications offered for IP. The course will analyze the proper relationship between property, scarcity, and ideas, and integrate the proper perspective on IP and the nature of ideas and information with Austrian economics and libertarian theory. Various legal and political reforms consistent with this perspective will be offered along with discussions of market and social institutions in a post-IP world. Optional testing will include a multiple-choice mid-term exam and a multiple-choice final exam.
This course suggests answers to these and related questions, focusing on recent examples, applications, and illustrations, while grounding the discussion on basic economic principles. We begin by studying the growth of the Internet,[link widoczny dla zalogowanych], wireless communication networks, and related technologies, trying to assess just how widely information technology has diffused throughout the economy. We then explore how these changes in technology, along with changes in regulation and global competition, have affected firm boundaries, competition, human resource management, regulation, sources of financing, and the assignment of property rights.
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Nullification, the Jeffersonian mechanism of state resistance to unconstitutional acts of the U.S. government, has returned to the news in recent years, and is the subject of a new book by the instructor of this course. The course will cover the historical, constitutional, and moral arguments that have been raised for and against the idea of state nullification. Students will examine the major sources and documents that comprise this tradition of American political thought, and read and discuss the famous debates in American history over nullification and the nature of the American Union: Daniel Webster vs. Robert Hayne,[link widoczny dla zalogowanych], Andrew Jackson vs. Littleton Waller Tazewell, and Joseph Story vs. Abel Upshur. To understand this topic is to gain an intimate knowledge and understanding of American history. (The book Nullification is the only required reading that is unavailable to read online.)
This course will cover both the theory and history behind the Federal Reserve, the central bank of the United States. Instructor Robert Murphy will first detail the theory of free-market banking, and contrast it with the distorted banking sector resulting from special government privileges. Murphy will relay the sordid tale of how the Federal Reserve Act was designed on Jekyll Island in a secret meeting of government officials and international bankers. He will also cover the mechanics of modern Fed operations and the commercial banking sector. The course will also apply Austrian business cycle theory to the stock market crash of 1929 and the recent housing bubble.
In Omnipotent Government (p. 268) Ludwig von Mises wrote that “the adversaries of the trend toward more government control describe their opposition as a . . . contest of states’ rights versus the central power.” To Mises,[link widoczny dla zalogowanych], centralized governmental power was the greatest threat to liberty. And as Edmund Wilson once noted, no one is more responsible for the birth of the centralized,[link widoczny dla zalogowanych], bureaucratic state that Americans slave under than Abraham Lincoln, the “Great Centralizer.” This course will apply Austrian economics and Austrian social theory to understand the economic and political legacies of the real Lincoln,[link widoczny dla zalogowanych], the man who waged total war on his own citizens, killing some 350,000 of them; who shredded the Constitution and essentially declared himself dictator; who suspended Habeas Corpus and imprisoned political opponents by the thousands; who shut down opposition newspapers by the hundreds; who intimidated federal judges and deported an opposition member of Congress; who ignored how most of the rest of the world ended slavery peacefully; who destroyed the voluntary union of the founding fathers that was based on states’ rights and federalism; and whose regime introduced America to income taxation, military conscription, decades of protectionism, corrupt corporate welfare, the internal revenue bureaucracy, and transformed the country from a republic to an empire.
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