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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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Introduction to Austrian Economic Analysis (Joseph Salerno)

June 12-26 2006

Mises Institute, Auburn, Alabama

Salerno.jpg Dr. Joseph Salerno is visiting scholar at the Mises Institute, Summer 2006, and he will give a series of lectures on the fundamentals of Austrian economic theory, with a special emphasis on its technical aspects. There are ten lectures, one per day for ten days. The public is invited to come to these lectures but we do need notice. They will also be archived on the media section of the site, and become part of Mises.org's podcast series.


Milton M. Shapiro, Foundations of the Market-Price System, University Press of America, 1985.

Percy L. Greaves, Jr., Understanding the Dollar Crisis, Western Islands Publishers, 1973.

Thomas C. Taylor, An Introduction to Austrian Economics, Ludwig von Mises Institute, 1980.

Henry N. Sanborn, What, How, For Whom: The Decisions of Economic Organization,Cotter-Barnard Company, 1972.



Monday - Friday, June 12-16 and June 19-23
10:00  - 11:30 a.m. Central Time
  • Scarcity, Choice, and Value
    • Greaves, pp. 1-20, 27-54
    • Shapiro, pp. 81-113
    • Taylor pp. 40-51 (Ch. 4)
  • Exchange and Demand
  • The Determination of Prices
  • Price Controls: Case Studies
  • Profit, Loss and the Entrepreneur
    • Taylor, pp. 74-89 (Ch. 7)
    • Ludwig von Mises, "Profit and Loss"  in Mises, Planning for Freedom and Sixteen Other Essays and Addresses,  pp. 108-30
  • Pricing of the Factors of Production and the Labor Market

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