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2. Supply and Demand

Play Episode Listen Later Feb 20, 2010


In this lecture in 1972, supply and demand concepts included: preferences of consumers, prices, quantity, quality, elasticity, equilibrium, marginal utility, present goods, and production processes. Lecture 2 of 16 from Austrian Economics: An Introductory Course, presented at New York Polytechnic University in 1972.

3. Advertising

Play Episode Listen Later Feb 20, 2010


Advertising has always had bad press with economists, but consumers discover that a product either works and works well, or it doesn't. Consumer wants are not artificially created by business itself. Advertising as a selling cost seemed evil. The free market benefits every participant. But intervention benefits one group at the expense of another. Political advertising - propaganda - gets a free pass. Lecture 3 of 16 from Austrian Economics: An Introductory Course, presented at New York Polytechnic University in 1972.

4. Price Controls

Play Episode Listen Later Feb 20, 2010


Price controls — triangular interventions — occur when an intervener (generally government) either compels a pair of people to make an exchange or prohibits them from making an exchange. Although ludicrous, price controls are instituted because a product appears to be in short supply, e.g. oil — while price controls create artificial shortages of the product. The conservation movement ties in with the attack on comfort and consumption and humans in general. Lecture 4 of 16 from Austrian Economics: An Introductory Course, presented at New York Polytechnic University in 1972.

5. The Profit Motive

Play Episode Listen Later Feb 20, 2010


Lecture 5 of 16 from Austrian Economics: An Introductory Course, presented at New York Polytechnic University in 1972.

6. Costs of the Firm

Play Episode Listen Later Feb 20, 2010


Lecture 6 of 16 from Austrian Economics: An Introductory Course, presented at New York Polytechnic University in 1972.

7. Pricing of the Factors of Production

Play Episode Listen Later Feb 20, 2010


Lecture 7 of 16 from Austrian Economics: An Introductory Course, presented at New York Polytechnic University in 1972.

8. Labor and Unions

Play Episode Listen Later Feb 20, 2010


Lecture 8 of 16 from Austrian Economics: An Introductory Course, presented at New York Polytechnic University in 1972.

9. Labor

Play Episode Listen Later Feb 20, 2010


Lecture 9 of 16 from Austrian Economics: An Introductory Course, presented at New York Polytechnic University in 1972.

10. Capital, Interest, and Profit

Play Episode Listen Later Feb 20, 2010


Lecture 10 of 16 from Austrian Economics: An Introductory Course, presented at New York Polytechnic University in 1972.

11. Interest and Capitalization

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Lecture 11 of 16 from Austrian Economics: An Introductory Course, presented at New York Polytechnic University in 1972.

12. Conservation and Property Rights

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Lecture 12 of 16 from Austrian Economics: An Introductory Course, presented at New York Polytechnic University in 1972.

13. Monopoly and Competition

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Lecture 13 of 16 from Austrian Economics: An Introductory Course, presented at New York Polytechnic University in 1972.

14. Money and Prices

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Lecture 14 of 16 from Austrian Economics: An Introductory Course, presented at New York Polytechnic University in 1972.

15. Money and the Balance of Payments

Play Episode Listen Later Feb 20, 2010


Lecture 15 of 16 from Austrian Economics: An Introductory Course, presented at New York Polytechnic University in 1972.

16. Banking and the Business Cycle

Play Episode Listen Later Feb 20, 2010


Lecture 16 of 16 from Austrian Economics: An Introductory Course, presented at New York Polytechnic University in 1972.

1. Choice, Utility, and Demand

Play Episode Listen Later Feb 12, 2010


Economics begins with the concepts of scarcity and choice. If there was no scarcity it would all be free. Resources like time and materials need to be allocated to economically feasible uses. This will depend on the consumers' demand for the final product. Lecture 1 of 16 from Austrian Economics: An Introductory Course, presented at New York Polytechnic University in 1972.

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