On Wednesday, Robert Murphy will begin his online course Principles of Economics using selections from his book Lessons for the Young Economist as the main text. Having read the entire book myself, I can testify that it is an outstanding achievement in the realm of basic economics education. Dr. Murphy finds such elegant and straight-forward, yet thorough, ways of expressing economic concepts, that reading the book is replete with “a-ha!” moments. The text is geared toward middle and high schoolers, yet it is highly interesting and edifying for adults too. Even for a reader who has read Human Action and Man, Economy, and State, reading the fundamentals of Austrian Economics expressed in such a distilled manner puts a fresh new spin on these fascinating concepts.
And Professor Murphy is a highly effective “virtual classroom” teacher too. In a survey for the students of his Understanding the Business Cycle online course, about three quarters of the respondents said they went into the class with their understanding of the Austriant Business Cycle Theory rated as “Non-existent”, “Tenuous”, or “Fair”. Yet, after completing the course, virtually all of the respondents ranked their understanding as “Good” or better; and over 80% ranked their understanding as “Solid”, “Excellent”, or “Full”.
To gain a rock-solid foundation in Austrian economics, sign up now for Principles of Economics with Robert Murphy while there’s still time!