Leslie Massey
Austrian Economics is a heterodox school of economic thought that advocates strict adherence to methodological individualism, the concept that social phenomena result primarily from the motivations and actions of individuals along with their self-interest. It originated in 1871 in Vienna with the work of Carl Menger, Eugen von Böhm-Bawerk, Friedrich von Wieser, and others. While it is not widely taught in universities, there are some institutions that offer courses and programs in Austrian Economics. Here is a list of some colleges and universities where one can study Austrian Economics:
- George Mason University
- New York University
- Auburn University
- Grove City College
- Loyola University New Orleans
- University of Missouri
- San Jose State University
- University of Chicago
- North Central College
- University of Connecticut
- Florida State University
- University of Georgia
- University of Mississippi
- North Carolina State University
- University of Oklahoma
- University of Rochester
- Washington University, St. Louis
- Rey Juan Carlos University
- University of Liechtenstein
- Universidad Francisco Marroquín, Guatemala
| Characteristics | Values |
|---|---|
| Country | USA, Guatemala, Spain, France, Czech Republic, Liechtenstein, Romania, Austria, Germany, Switzerland, UK, Canada, New Zealand, Australia |
| State | Virginia, Florida, Michigan, Illinois, North Carolina, California, Louisiana, Missouri, New York, Texas, Massachusetts, Connecticut, Georgia, Ohio, Indiana, Wisconsin, New Jersey, Pennsylvania, Washington, Maryland |
| City | Fairfax, Auburn, Troy, New Orleans, Grove City, Hillsdale, Chicago, Ann Arbor, Clemson, Storrs, Tallahassee, Hayward, St. Louis, Prague, Vaduz, Bucharest, Guatemala City, Angers, Canterbury, Madrid, Liechtenstein, Wien |
| Type of Institution | University, College, Institute |
| Name of Institution | George Mason University, Auburn University, Walsh College of Accountancy and Business Administration, Loyola University New Orleans, Grove City College, Hillsdale College, University of Chicago, Northwood University, Santa Clara University, California State University at Hayward, University of Missouri-St. Louis, New York University, Texas Tech University, North Carolina State University, San Jose State University, University of Virginia, University of California Los Angeles, Florida State University, University of Connecticut, University of Georgia, University of Guelph, University of Mississippi, North Central College, Clemson University, Winston-Salem State University, University of Oklahoma, University of Rochester, Washington University, Charles Koch Institute, Spartanburg University, Institute for Humane Studies, Rey Juan Carlos University, Université Paul Cézanne Aix-Marseille III, Université d'Angers, University of Europe, University of Economics Prague, Swiss Management Center, Department of International Business and Economics (Academy of Economic Studies Bucharest), Department of Economics (Academy of Economic Studies Bucharest), University of Liechtenstein, Wirtschaftsuniversität Wien, Institut für Wertewirtschaft, Scholarium, Universidad Francisco Marroquín, University of Canterbury, Liberty Classroom, Mises Academy, Mises Institute |
What You'll Learn
Austrian Economics at George Mason University
George Mason University (GMU) is the premier place for the study of Austrian Economics. The university offers courses, brown bag lunches, colloquia, and seminars in Austrian Economics. The Mercatus Center also offers a limited number of graduate assistantships to Mason students interested in Austrian Economics.
The economics department at GMU has developed an international reputation for its unique approach to economics, fusing scholarship in the fields of Public Choice, Austrian Economics, and Experimental Economics. The Mason style of economics, known as "Masonomics", is founded on principles that stress the value of free markets in promoting peace and prosperity. It is not politically "left" or "right" but instead founded in principles that stress the value of liberty and basic human rights, enabling people to create a political-economic system characterised by economic growth, stability, and rule-of-law.
The GMU economics program focuses on society and policy issues, with an emphasis on public choice, public finance, constitutional political economy, institutional economics, experimental economics, Austrian economics, and Smithian political economy. The program is known for its innovative curriculum, and the faculty and students continue to achieve at the highest level. Their achievements have contributed to the department's international reputation for creating visionary, outside-the-box economic ideas.
Economists of the Hayekian view are affiliated with GMU, including Peter Boettke, Roger Garrison, Steven Horwitz, Peter Leeson, and George Reisman. GMU is currently one of the universities with a significant Austrian presence, along with New York University, Grove City College, and Auburn University in the United States; King Juan Carlos University in Spain; and Universidad Francisco Marroquín in Guatemala.
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Austrian Economics at Auburn University
Auburn University in Alabama is home to the Ludwig von Mises Institute for Austrian Economics, a non-profit think tank and centre for heterodox Austrian economics, right-wing libertarian thought, and the paleolibertarian and anarcho-capitalist movements. The institute was founded in 1982 by Lew Rockwell, chief of staff to Texas Republican Congressman Ron Paul, and was affiliated with the Auburn University Business School until 1998 when it established its own building across the street from campus.
The Mises Institute was created to promote the contributions of Ludwig von Mises, who Rockwell feared was being ignored by libertarian institutions financed by Charles and David Koch. The institute is named after the economist and promotes the Misesian version of Austrian economics. The Mises Institute's academic programs include Mises University, the Rothbard Graduate Seminar, the Austrian Economics Research Conference, and a summer research fellowship program.
The institute is described as libertarian and promoting the Austrian School of economics. It favours the methodology of Misesian praxeology, which holds that economic science is deductive rather than empirical. This approach was developed by Ludwig von Mises, following the Methodenstreit opined by Carl Menger, and it opposes the mathematical modelling and hypothesis testing used to justify knowledge in neoclassical economics.
The Mises Institute has been described as "a fascist fist in a libertarian glove" by Austrian economist Steven Horwitz. It has also been associated with neo-Confederate positions, and has held conferences about secession. However, it has also been described as "a wellspring of sensible economic thinking" and "the intellectual epicenter of the radical libertarian movement in the United States".
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Austrian Economics at New York University
Austrian economics is a heterodox school of economic thought that advocates strict adherence to methodological individualism, the concept that social phenomena result primarily from the motivations and actions of individuals along with their self-interest. Austrian economics was founded in 1871 with the publication of Carl Menger's 'Principles of Economics'.
New York University (NYU) is home to a well-known Austrian Economics Program, which has been functioning since the days of Mises. The program is led by Israel Kirzner, David Harper, and Mario Rizzo, and attracts students from around the world. NYU also offers a weekly Austrian Economics Colloquium and an annual summer course held at FEE. However, it is worth noting that the NYU program is small, and most of the teachers are non-Austrian.
The Austrian School of Economics owes its name to members of the German Historical School of Economics, who argued against the Austrians during the late 19th-century Methodenstreit ("methodology struggle"), in which the Austrians defended the role of theory in economics as distinct from the study of historical circumstances.
The Austrian Economics Program at NYU is part of the Department of Economics, which offers both undergraduate and graduate programs. The department is ranked as one of the top 20 economics departments in the country. The faculty includes specialists in various fields, such as institutional economics, economic development, and the economics of entrepreneurship.
In addition to its academic programs, NYU also hosts the Classical Liberal Institute, which is co-directed by Professor Rizzo. The institute focuses on promoting classical liberal ideas and hosts various events and seminars related to Austrian economics and libertarian thought.
Overall, NYU's Austrian Economics Program offers a unique opportunity for students interested in Austrian economics to learn from renowned experts in the field and engage with a global community of like-minded individuals.
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Austrian Economics at Grove City College
Grove City College is a free-market-oriented college that offers solid undergraduate courses in Austrian Economics. The college is located near Pittsburgh and has an economist, John Moore, as its president.
Austrian Economics is a heterodox school of economic thought that advocates strict adherence to methodological individualism, the concept that social phenomena result primarily from the motivations and actions of individuals along with their self-interest. Austrian-school theorists hold that economic theory should be exclusively derived from basic principles of human action.
The Austrian school originated in 1871 in Vienna with the work of Carl Menger, Eugen von Böhm-Bawerk, Friedrich von Wieser, and others. It was methodologically opposed to the Historical school, in a dispute known as the "methodology quarrel". Current-day economists working in this tradition are located in many countries, but their work is still referred to as Austrian Economics.
The Austrian school owes its name to members of the German Historical School of Economics, who argued against the Austrians during the late 19th-century "methodology struggle", in which the Austrians defended the role of theory in economics as distinct from the study or compilation of historical circumstances.
The Salamanca School of economic thought, which emerged in 16th-century Spain, is often regarded as an early precursor to the Austrian School of Economics due to its development of the subjective theory of value and its advocacy for free-market principles. Scholars from the University of Salamanca, such as Francisco de Vitoria and Luis de Molina, argued that the value of goods was determined by individual preferences rather than intrinsic factors, foreshadowing later Austrian ideas.
While most universities teach institutionalized Keynesian economics, Grove City College is one of the colleges that actively teach Austrian Economics.
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Austrian Economics at Mises Institute
The Ludwig von Mises Institute for Austrian Economics, or Mises Institute, is a non-profit think tank based in Auburn, Alabama, that promotes Austrian economics, right-wing libertarian thought, and the paleolibertarian and anarcho-capitalist movements in the United States. The institute was founded in 1982 by Lew Rockwell, who was chief of staff to Texas Republican Congressman Ron Paul. Rockwell received the blessing of Margit von Mises during a meeting in New York City, and she was named the first chairman of the board. The institute was meant to promote the contributions of Ludwig von Mises, who Rockwell feared was being ignored by libertarian institutions financed by Charles and David Koch.
The Mises Institute's academic programs include Mises University, the Rothbard Graduate Seminar, the Austrian Economics Research Conference, and a summer research fellowship program. In 2020, the institute began offering a graduate program. It also publishes the Journal of Libertarian Studies.
The Mises Institute describes its mission as follows:
> To promote teaching and research in the Austrian school of economics, and individual freedom, honest history, and international peace, in the tradition of Ludwig von Mises and Murray N. Rothbard.
The institute is non-political, non-partisan, and non-PC, and it advocates for a radical shift in the intellectual climate, away from statism and toward a private property order. The Mises Institute's description of its mission also states that it believes its foundational ideas are of permanent value and that it opposes all efforts to compromise, sell out, or amalgamate these ideas with fashionable political, cultural, and social doctrines inimical to their spirit.
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Frequently asked questions
Some colleges that teach Austrian Economics include George Mason University, Auburn University, Grove City College, and Northwood University.
Some universities outside the US that teach Austrian Economics include Universidad Francisco Marroquín in Guatemala, University of Liechtenstein in Vaduz, and Rey Juan Carlos University in Spain.
Austrian Economics is a heterodox school of economic thought that advocates strict adherence to methodological individualism, the concept that social phenomena result primarily from the motivations and actions of individuals along with their self-interest.
