Austrian Theory of the Market Process II

I will be teaching my graduate course in the Austrian Theory of the Market Process II again this spring.  GMU is the only school at the PhD level in the US that actually allows students to "field" in Austrian economics. We have two courses in the field, but also there are courses offered in "Economic Philosophy", "Constitutional Political Economy", etc.  So students after their first year of PhD studies can specialize in Austrian economics and classical liberal political economy.  This is a great opportunity for students whose intellectual passions run in this direction.  And it explains why GMU graduates for the past 20+ years have gone on to make the contributions they have in academics, think tanks and public policy.

Anyway, here is the syllbus -- Download Austrian_Theory_of_the_Market_Process_Spring_2007.doc . 

What do you think are my sins of omission and sins of comission?

Comments

[Andre Azevedo Alves]

Maybe this is covered in previous courses, but I think a session on the founding fathers (Menger, Bohm-Bawerk, Wieser) could be justified.

Another possibility would be a session that more explicitly addressed the Austrian contributions within the mainstream neoclassical paradigm (how they are perceived/incorporated/ignored and why).

It was great meeting you in London. Keep up the good work!

[Student]

Have you thought about beefing up the section on the Austrian approach to Welfare Economics? What do you think of older work done by Roy Cordato?

[Paul]

Any chance that you'd post your lecture slides for this class? If you do slides, that is.

[Kirk]

On a related subject: Have you considered offering a Graduate Certificate in Austrian Economics at GMU?

Such certificates typically require 15 or so hours of graduate work beyond the bachelor's. Economics-related certificates are offered by American University in Washington, Univ. of Texas (Economic and Demographic Data Analysis), Colorado School of Mines (International Political Economy of Resources), Univ. of Queensland, etc. -- sometimes in fields where the school has a pronounced comparitive advantage.

If a pure-play Austrian/spontaneous order economics certificate is not appropriate, one that aimed at classical liberal thought more broadly, and brings in some courses in Constitutional Political Economy would be a very interesting offering.

GMU certainly has comparitive advantage in the area of Austrian Economics and Constitutional Political Economy. With the near-Washington location added in, I would think there would be very high demand for such a certificate.

[Rafe Champion]

Some suggestions to add:
For development and cultural change: McClelland "The Achieving Society".

Evolution and Structure or Grand Theory: Radnitzky on the European Miracle.

Transnational or Romance and Realism: Something about Rogernomics in NZ.

Grand Theory: Novack's book on the merger of Catholic thought and the Austrians. Sam Gregg did a couple of Sydney CIS publications similar themes.

Something on the Even More Austrian school (Popper and the other Austrians) also known as The Austro-Australian school (counting Popper as an Australian on account of his stay in New Zealand).