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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 18

August 3

Auburn, Alabama


COME DEEPEN YOUR KNOWLEDGE of the Austrian School, or discover it for the first time, at the 18th 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.


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.


Thomas DiLorenzo (Loyola College, Baltimore) 
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) 
George Reisman (Pepperdine University) 
Joseph T. Salerno (Pace University)
Mark Thornton (Ludwig von Mises Institute)


SUNDAY, August 3

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

MONDAY August 4 

  • 8:00-8:45am shuttle departs dorm/hotel for Mises Institute every 15 mins.
  • 8:15-9:00am breakfast
  • 9:00-10:00am  The Marginalist Revolution. Salerno.  Room 1              
  • 10:00am Group photo in amphitheater
  • 10:30-11:30am Value, Utility, and Price. Herbener.  Room 1
  • 11:45am-12:45pm  Praxeology: The Austrian Method. Hoppe. Room 1
  • 12:45-1:30pm Lunch                 
  • 1:30-2:30pm Time Preference and Interest. Herbener. Room 1                  
  • 2:45-3:45pm Concurrent   
  • 4:00-5:00pm   Calculation and Price Theory. Salerno. Room 1
  • 5:00-6:30pm Dinner              
  • 7:00pm Performance and Sing-along: Songs of the Mises-Kreis   
  • 8:00-10:00pm Social Hour
  • 8:30-10:00pm shuttle departs Mises Institute every half hour for dorm/hotel  

TUESDAY August 5

  • 8:00-8:45am shuttle departs dorm/hotel for Mises Institute every 15 mins.
  • 8:15-9:00am Breakfast
  • 9:00-10:00am Money and Banking. Hoppe. Room 1
  • 10:15-11:15am Capital. Garrison. Room 1
  • 11:30-12:30pm Interventionism. Reisman.  Room 1                 
  • 12:1:30pm Lunch 
  • 1:30-2:30pm  Austrian Theory of the Trade Cycle I. Garrison. Room 1
  • 2:45-3:45pm   Monopoly and Competition. DiLorenzo. Room 1
  • 4:00-5:00pm The Theory of the FirmKlein. Room 1
  • 5:00-6:00pm Dinner    
  • 6:00-7:00pm shuttle leaves every half hour between Mises and dorm/hotel; last shuttle leaves dorm/hotel at 7:30pm                            
  • 8:00pm Film in Amphitheater 
  • 8:30-10:00pm shuttle departs Mises Institute every half hour for dorm/hotel  


  • 8:00-8:45am shuttle departs dorm/hotel for Mises Institute every 15 mins.
  • 8:15-9:00am Breakfast
  • 9:00-10:00am Concurrent Sessions     
    • Theory of the Profit, Loss, and Entrepreneurship. Salerno. Room 1
    • Epistemological Problems of Economics. Gordon. Room 2
  • 10:15-:11:15am Concurrent Sessions      
    • Economics of the Public and Semi-Public Sector. DiLorenzo. Room 1
    • Economics of Risk and Insurance. Hoppe. Room 2
  • 11:30-12:30pm Concurrent Sessions 
    • Austrian Theory of the Trade Cycle II. Garrison. Room 1
    • Public Spending and Public Goods. DiLorenzo. Room 2
  • 12:30-1:30pm Lunch                               
  • 1:30-2:30pm Concurrent Sessions     
    • The Benevolence of Capitalism. Reisman. Room 1
    • Problems in Cycle Theory. Hülsmann. Room 2
  • 2:45-3:45pm Concurrent Sessions    
  • 4:00-5:00pm Seminars     
    • Applications of Austrian Macroeconomic Theory. Garrison. Room 1
    • Money and Banking. Reisman, Salerno. Room 2
    • Firms and Financial Markets. Klein, Thornton. Room 3
  • Shuttle to dorm/hotel every 15 minutes
  • 6:00-9:00pm Dinner and Social Hour: Gattis 


  • 8:00-8:45am shuttle departs dorm/hotel for Mises Institute every 15 mins.
  • 8:15-9:00am Breakfast
  • 9:00-10:00am Concurrent Sessions      
    • Environmental and Resource Economics. Reisman. Room 1
    • Critique of Keynesian Macroeconomics. Herbener. Room 2
  • 10:15-11:15am Concurrent Sessions      
    • Macroeconomics of Taxes and Tax Reform. Garrison. Room 1
    • Foundations of Welfare Economics. Hülsmann. Room 2
  • 11:30-12:30pm Concurrent Sessions 
    • The Economics of Inflation. Reisman. Room 1   
    • Theory and History. Gordon. Room 2
  • 12:30-1:30pm Lunch                              
  • 1:30-2:30pm Concurrent Sessions      
    • Monetarist vs Austrian Views of the Trade Cycle. Garrison. Room 1
    • Further Considerations in the Theory of Interest. Hülsmann.  Room 2
  • 2:45-3:45pm Concurrent Sessions     
    • Economics as a Profession. Klein. Room 1
    • Human Action and Man, Economy, and State in the History of Thought. Salerno. Room 2
  • 4:00-5:00pm Concurrent Seminars     
    • Theory and History. Hoppe, Hülsmann. Room 1
    • Economics and Ethics. Gordon, Long. Room 2
    • A Critique of Public Choice on Government. Thornton, DiLorenzo. Room 3
    • Common Errors in Economic Theory. Herbener, Klein. Room 4
  • Dinner and Social Hour: Gattis 

FRIDAY August 8

  • Deadline for signing up for Mündliche Prüfung at 5:00pm today
  • 8:00-8:45am shuttle departs dorm/hotel for Mises Institute every 15 mins.
  • 8:15-9:00am Breakfast
  • 9:00-10:00am Concurrent Sessions      
  • 10:15-11:15pm Concurrent Sessions      
    • Extensions and Applications in Austrian Macroeconomics. Garrison 1
    • International Monetary Systems. Salerno. Room 2
  • 11:30-12:30pm Concurrent Sessions      
    • Current Topics in Economic Policy. ReismanRoom 1
    • Economic Reasoning: Principles and Common Fallacies. Gordon. Room 2
  • 12:30-1:30pm Lunch
  • 1:30-2:30 Concurrent Sessions     
    • Trade Barriers as a Cause of War. DiLorenzo. Room 1
    • History and New Directions for Austrian Economists. Salerno. Room 2   
  • 2:45-3:45pm Concurrent Sessions     
    • Protection and the Market for Security. Hoppe. Room 1
    • Why Economists Should know Logic and Philosophy. Long. Room 2  
  • 4:00-5:00pm Faculty Panels
    • Microeconomics: Klein, DiLorenzo, Gordon, Herbener, Hoppe, Thornton. Room 1
    • Macroeconomics: Hülsmann, Reisman, Garrison, Long, Salerno. Room 2
  • 5:00-6:00pm Dinner
  • 6:00-7:30pm shuttles every half hour between Mises and dorm/hotel; last shuttle from dorm at 7:30         
  • 8:00pm Film in Amphitheater  
  • 8:30-10:00pm shuttle departs Mises Institute every half hour for hotel  

SATURDAY August 9 

  • 8:00-8:45am shuttle departs dorm/hotel for Mises Institute every 15 mins.
  • 8:15-9:00am Breakfast
  • 9:00-10:00am Concurrent Sessions      
  • 10:15-11:15am Concurrent Sessions 
    • Economics of Political Centralization. Hoppe. Room 1
    • The Utopianism of Marx and Keynes. Herbener. Room 2 
  • 11:30-12:30pm Concurrent Sessions      
    • Knowledge and Judgement. Hülsmann. Room 1     
    • The Case Against All Antitrust Legislation. DiLorenzo. Room 2  
  • 12:30-1:30pm Lunch   
  • 1:30-2:30pm Concurrent Sessions      
    • Recent Books Important to Austrians. Gordon. Room 1      
    • Apriorism and Positivism in the Social Sciences . Long. Room 2  
    • Recent Monetary Crises. Herbener. Room 3      
  • 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 three to 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 graded certificate (ask your school's administration whether you can get credit for it).  
  • 3:00pm Film in Condon
  • 5:30pm Barbecue 

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)


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.

  • Applications received before May 1 will be notified of the scholarship committee's decision on May 3 or May 19.                        
  • Applications received between May 1 and June 1 will be notified June 3.                        
  • Applications received between June 1 and July 1 will be notified July 3.                        
  • Applications received after July 1 will be notified July 15, which is the cut-off date for all applications.

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 $25 double occupancy, per person per night at the student dorm or $35 single occupancy.  For hotels in the Auburn area, click HERE.    Use this Member Observer registration form.  For questions, email pat@mises.org.

Accommodations http://mises.org/hotels.asp or register on-line for a dormitory room.  Mention Mises Institute for special rates of $65 at Crenshaw House Bed and Breakfast.


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