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The Ludwig von Mises Institute

Advancing Austrian Economics, Liberty, and Peace

Advancing the scholarship of liberty in the tradition of the Austrian School

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Mises University 17

August 4

Auburn, Alabama

 Come deepen your knowledge of the Austrian School, or discover it for the first time, at the 17th annual Mises University summer program. The entire program will take place at the Mises Institute in Auburn, Alabama. 

Interested full-time students can apply now to receive a scholarship covering full tuition, housing, meals (catered and served at the Mises Institute), study books, and transportation between the Atlanta, Georgia airport and Auburn. Faculty may also attend; use the faculty registration form.


Rooted in the tradition of Carl Menger and Ludwig von Mises, as well as Murray Rothbard and F.A. Hayek, the Austrian School offers a rigorous and logical approach to economics that gives free markets their due and takes full account of the reality of human choice.

More than a field within economics, the Austrian School is an entirely different approach that dissents from the mainstream on method, theory, and policy. It views economic actors as unique, conscious, and freely choosing individuals, not as undifferentiated data to be manipulated mathematically or politically.


The Mises University is the world's leading instructional program in the Austrian School of economics. Since 1984, it has been the essential training ground for economists who are looking beyond the mainstream.

The program offers courses, seminars, and reading groups on the whole range of the discipline. A core curriculum presents economic foundations, and more than fifty elective classes explore the entire range of economics, in all levels of advancement. The program ends with a Mündliche Prüfung, an optional exam for an honors certificate.

Subject areas cover market behavior, competition, value and utility, money and banking, business cycles, industrial organization, method, economic history, the philosophy of science, financial economics, and more. You attend what most suits your interests and level of advancement.

Classes are interspersed with reading groups, discussion seminars, faculty panels, and plenary lectures. There are special sessions on economic history, economics and ethics, and political philosophy. Nightly social hours allow time to meet and discuss it all with faculty and other students. There's even a primer on surviving graduate school.

All students must be familiar with the Required Readings prior to attending.


Walter Block (Loyola University, New Orleans 

Roger Garrison (Auburn University)

David Gordon (Mises Review)

Jeffrey M. Herbener (Grove City College)

Hans-Hermann Hoppe (University of Nevada, Las Vegas)

Jörg Guido Hülsmann (Mises Institute)

Peter Klein (University of Missouri) 

Roderick T. Long (Auburn University)

Joseph T. Salerno (Pace University)

Mark Thornton (Columbus State University)

Richard Vedder (Ohio University) 

Steven Yates (Mises Institute)


The Mises Institute, the world center for the scholarship of liberty, is located adjacent to the campus of Auburn University and near the heart of uptown Auburn. The recently expanded Mises Campus features semianr rooms, an extensive special-collections library, a large archival center housing the papers of Mises and other great Austrian economists, seminars rooms, and retail bookstore, a music conservatory, an outdoor amphitheater, and study gardens. 

You'll stay in a private dormitory that offers comfortable. air-conditioned rooms with desks and private baths, parlor rooms with televisions, a swimming pool, a weight room, computer services, and a helpful staff.

All meals are catered and will be enjoyed at the library and gardens of the Mises Institute. Classes will be in the seminar rooms and library of the Mises Institute. Nightly social hours will offer refreshments and movies in an informal atmosphere ideal for discussing new ideas from the daily lectures or for making new friends.


SUNDAY, August 4

  • 10:00am-8:00pm (Central Time) check-in at Commons Dorm                
  • 5:00-7:00 Registration at Mises Institute (bus between dorm and Mises Institute every half hour, 5:00-7:00)                          
  • 7:00 Dinner at the Mises Institute                          
  • 8:00 Welcoming remarks, faculty introductions Thornton                           
  • 8:15 Mises and the Foundation of Austrian Scholarship. Hoppe            
  • 9:30 Social Hour  

MONDAY August 5 

  • 9:00-10:00am The Early History of the Austrian SchoolHülsmann                          
  • 10:15-11:15am The Marginalist Revolution. Salerno                           
  • 11:30-12:30am Value, Utility, and PriceHerbener                           
  • Lunch             
  • 1:30-2:30pm Calculation and Price Theory. Salerno                          
  • 2:45-3:45pm Money and Banking. Block            
  • 4:00-5:00pm Wages and Labor. Vedder             
  • Dinner             
  • 7:00pm Piano Discussion and Concert: Barbara Acker-Mills            
  • 8:00pm Social Hour

TUESDAY August 6 

  • 9:00-10:00am Praxeology: The Austrian Method. Hoppe            
  • 10:15-11:15am Time Preference and Interest. Herbener            
  • 11:30-12:30pm Capital. Garrison             
  • Lunch            
  • 1:30-2:30pm  Austrian Theory of the Trade Cycle I. Garrison            
  • 2:45-3:45pm  Monopoly and Competition. Block                        
  • 4:00-5:00pm The Great Depression. Vedder            
  • Dinner             
  • 8:00pm Film in Amphitheater  ("Phantom Menace: Star Wars I")


  • 9:00-10:am Concurrent Sessions  
    • Theory of the Profit, Loss, and Entrepreneurship. Salerno 
    • Epistemological Problems of Economics. Gordon  
  • 10:15-:11:15am Concurrent Sessions   
    • Statistical Malfeasance in Government Data. Vedder  
    • Economics of Risk and Insurance. Hoppe         
  • 11:30-12:30pm Concurrent Sessions   
    • Austrian Theory of the Trade Cycle II. Garrison  
    • The Theory of the Firm. Klein
  • Lunch             
  • 1:30-2:30pm Concurrent Sessions  
    • Labor, Unemployment, and Fiscal Policy. Vedder  
    • Problems in Cycle Theory. Hülsmann  
  • 2:45-3:45pm Concurrent Sessions 
    • Austrian Financial Economics. Vedder   
    • Economics of F.A. HayekKlein 
  • 4:00-5:00pm Seminars  
    • Austrian School in the History of Ideas. Gordon, Herbener 
    • Money and Banking. Block, Salerno  
    • Firms and Financial Markets. KleinThornton
  • Dinner and Social Hour: Gattis 

THURSDAY August 8 

  • 9:00-10:00am Concurrent Sessions   
    • Environmental and Resource Economics. Block    
    • Critique of Keynesian Macroeconomics. Herbener 
  • 10:15-11:15am Concurrent Sessions   
    • Macroeconomics of Taxes and Tax Reform. Garrison    
    • Foundations of Welfare Economics. Hülsmann 
  • 11:30-12:30pm Concurrent Sessions   
    • Austria and Chicago on Law and Economics. Hoppe    
    • Theory and History. Gordon   
  • Lunch            
  • 1:30-2:30pm Concurrent Sessions   
    • Two Kinds of Free Banking. Hülsmann     
    • Monetarist vs Austrian Views of the Trade Cycle. Garrison 
  • 2:45-3:45pm Concurrent Sessions  
    • Economics as a Profession. Klein  
    • Human Action in the History of Thought. Salerno               
  • 4:00-5:00pm Concurrent Seminars  
    • A Critique of Public Choice on Government. Thornton, Block  
    • Common Errors in Economic Theory. Herbener, Klein                 
    • Economics and Ethics. Gordon, Long  
    • Theory and History. Hoppe, Hülsmann

  • Dinner and Social Hour: Gattis 

FRIDAY August 9

  • 9:00-10:00am Concurrent Sessions   
    • The Rawlsian Invasion of Economics. Gordon  
    •  The Free Market and Shareholder Rights. Klein 
  • 10:15-11:15pm Concurrent Sessions   
    • International Monetary Systems. Salerno    
    • The American Austrians. Herbener
  • 11:30-12:30pm Concurrent Sessions   
    • Extensions and Applications in Austrian Macroeconomics. Garrison  
    • Economic Reasoning: Principles and Common Fallacies. Gordon
  • Lunch             
  • 1:30-2:30 Concurrent Sessions  
    • Recent Monetary Crises. Herbener     
    • The Case Against Neo-Polylogism. Yates
  • 2:45-3:45pm Concurrent Sessions  
    • History and New Directions for Austrian Economists. Salerno   
    • The Economics of Information Technology. Klein 
  • 4:00-5:00pm Concurrent Sessions  
    • Protection and the Market for Security. Hoppe  
    • Why Economists Should Study Logic and Philosophy. Long 
  • 6:30pm All Faculty Panel             
  • 8:00pm Film in Amphitheater ("Enemy of the State")

SATURDAY August 10 

  • 9:00-10:00am Concurrent Sessions   
    • The Economics of Prohibitionism. Thornton    
    • The Place of the Equilibrium Construct. Hülsmann
  • 10:15-11:15am Concurrent Sessions   
    • Economics of Political Centralization. Hoppe    
    • The Utopianism of Marx and KeynesHerbener 
  • 11:30-12:30pm Concurrent Sessions   
    • Knowledge and Judgement. Hülsmann    
    • The Case Against All Antitrust Legislation. Block 
  • Lunch             
  • 1:30-2:30pm Concurrent Sessions   
    • Twenty Greatest Economics Books. Gordon  
    • Apriorism and Positivism in the Social Sciences . Long 
  • 2:45-5:00pm Study Time and Mündliche Prüfung (optional exams for honors certificate: Those who would like to have their knowledge tested at the end of the conference may choose to take part in an oral exam (German: Mündliche Prüfung). Other than in the U.S. and many other countries, viva voce examination has always been, and is still, the standard form of exam in Central Europe. A jury composed of five professors from our faculty will engage each examinee in a tough 10-15 minutes question-and-answer session. Those who pass will receive a certificate (ask your school's administration whether you can get credit for it).            
  • 5:30pm Barbecue 

See also a detailed class listing 

THE CONSUMERS SAY : "In one conference, a great introduction and a challenge for the most advanced student." (Matt Zwolinski, University of Arizona); "Exhilarating, exhausting, and a great investment of time." (Joshua Hall, Ohio University); "Nuclear-strength instruction in free-market economics and a splendid experience." (Stephen Barrows, United States Air Force Academy); "It fundamentally changed my views on history, economics, government, and philosophy." (Kevork Tanielian, Northwood University); "The teachers are learned, approachable, and enthusiastic." (Steven Dick, University of Alaska); "Sheer intellectual stimulation." (Louann Ahlgren, University of Memphis); "A tremendous benefit, academically, professionally, and personally." (Stephan Kuhnert, Michigan State University); "Challenging, intelligent, and provocative. I strongly recommend this program." (Cezar Botel, University of Tennessee); "Top-quality faculty, and as bright a group of students as I've ever seen." (Jay Mitchell, Loyola University, New Orleans); "No matter how much you know about Austrian economics, this program teaches you more." (Jennifer Collins, George Mason University); "Thanks a million for the Mises University! The classes were phenomenal, the faculty extraordinary, and the atmosphere idyllic. This is higher education the way it ought to be." (Ted Deden, University of Texas, Austin); "The intellectual atmosphere is amazing! There is nothing like it in all of academia. You learn more at the Mises University than in years at a regular college." (Devlin Cooper, George College and State University); "After the Mises University, for the remainder of my education, and my life, my real teachers will be Mises and the Austrians." (Jeff Martin, Western Kentucky University); "The Mises University was pure intellectual bliss." (Jamie Todd, Jacksonville State University); "This is precisely what one wishes for at college: a fascinating, masterful, challenging, and fun education!" (Greg Newburn, University of Florida); "Knowledge is power, and now I've learned to look at the way government and the market really work." (Dwight Silva, Hillsdale College) "Well organized and filled with opportunities and challenges. My interest in economics has received a huge boost." (Gordon A. Clark, Trinity College) "What a great mix of professors and students!" (Juan Melian, University of Stuttgart); "An outstanding presentation of a vast range of topics." (Micael McGowan, University of Chicago); "Exceptionally cogent and informative teaching." (Bret Chrisope, Tulane University); "This is real economic science!" (Miro Kollar, University of Economics, Prague); "There is so much to learn, and you learn it. If you just open your ears and your mind, it changes you forever." (Leon Snyman, University of Central Arkansas); "Now I really know about government, economics, and history." (Philip N. Zott, Oakland University); "Absolutely incredible and intense, and invaluable to my future study of economics, and to my life in general!" (Maria Jennings, The College of New Jersey) "I learned more than in an entire year of undergraduate study." (Nathaniel Berg, Southwest Baptist University); "The greatest experience of my intellectual life." (Jeff Cleveland, Whittier College); "A paradise for the serious student." (Gabriel Calzada, Complutense University of Madrid); "I'm proud to have attended this stronghold of liberty in an academic sea of socialism." (Bredan Tupa, William Mitchell College); "I wish my university studies year round could be like this." Josue Dooboory (University of Innsbruck)

How to Apply

If you are a full-time student, graduate or undergraduate, fill out the on-line Student Scholarship Application which can be sent by mail or email attachment. Economics majors have priority, but students in all disciplines are encouraged to apply. Use a separate sheet of paper to answer the questionnaire, and include an unofficial academic transcript and a copy of your student ID. Submitting papers, especially those dealing with Austrian School topics, and academic letters of recommendation, enhances the likelihood of acceptance. Deadline for application: July 19, 2002.

All applicants will be notified by email of the scholarship committee's decisions before July 20.  If accepted, you must then familiarize yourself with the Required Readings, most of which are available on Mises.org.   If you beat the rush, you will have a better chance of acceptance.

There are openings available for faculty members at the rate of $375, which covers room, board, and tuition. Use this faculty registration form.

A limited number of Observer spaces are available. The price of $675 includes all meals, lectures, and student materials. The price of housing is $20 per night at the student dorm, and $72 per night at the Auburn University Hotel. Use this Member Observer registration form.  For questions, email pat@mises.org.

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