Lecture series · recorded 2006
Introduction to Austrian Economic Analysis
Introduction to Austrian Economic Analysis is a free lecture series (15 recordings, 21.2 hours) you can stream or download at freecapitalists.org, with Joseph T. Salerno.
Joseph T. Salerno presents this series of ten lectures on the fundamentals of Austrian economic theory, with a special emphasis on its technical aspects.
The EntrepreneurMoney and BanksBooms and Busts
Cover painting: panic on the Vienna Stock Exchange on Black Friday, 9 May 1873, seen from the gallery. See every painting in the art gallery.
-
01
Download MP4 · MP3
Scarcity, Choice, and Value 2006
In this introduction to the basics of Austrian-school economic analysis, Joseph Salerno introduces a number of basic concepts including utility, exchange, psychic cost, choice, and marginal value.
Austrian Economics OverviewValue and Exchange
Read the transcript 11,196 words
- 02 Download MP4
-
03
Download MP4 · MP3
Exchange and Demand 2006
All action is exchange, even forced exchange like slavery, taxes, eminent domain and conscription, where only one party gains. The Law of Marginal Utility tells us how many exchanges will be made.
Austrian Economics OverviewValue and Exchange
Read the transcript 12,190 words
- 04 Download MP4
-
05
Download MP4 · MP3
The Determination of Prices 2006
What principles determine the formation of prices on the free market? The equilibrium price between supply and demand determines prices according to the value scales of sellers and buyers and their elastic or inelastic positions.
Austrian Economics OverviewCapital and Interest TheoryPrices
Read the transcript 12,498 words
- 06 Download MP4
-
07
Download MP4 · MP3
Price Controls: Case Studies 2006
The immediate effect of price controls or any government intervention upon the market is shortage of goods. Price controls discourage production just when it is needed most. The economy approaches full socialization. Rent control is the easiest way to destroy a city besides bombing it.
Austrian Economics OverviewInterventionism
Read the transcript 14,121 words
- 08 Download MP4
-
09
Download MP4 · MP3
Profit, Loss and the Entrepreneur 2006
Capitalist-entrepreneurs must anticipate supply and demand conditions of future market conditions. It is the future price - the appraisement – that must be compared to the costs of factors of production (land, labor, and capital).
Austrian Economics OverviewEntrepreneurshipThe Entrepreneur
Read the transcript 12,510 words
- 10 Download MP4
-
11
1:23:23 Download MP3
Pricing of the Factors of Production and the Labor Market 2006
Factors of Production are economic goods: scarce means used to achieve an individual’s ends. They are land, labor and capital. Each is examined. Incomes are earned by factor owners as production takes place. There is no separated production and distribution.
Austrian Economics OverviewPricesProduction Theory
Read the transcript 12,466 words
-
12
1:23:21 Download MP3
Capital, Interest and the Structure of Production 2006
All action takes time. Humans use time as a tool. Time preference ranking is now, not later, although time preferences will differ over time and for different people, like children who want things right now.
Austrian Economics OverviewCapital and Interest TheoryProduction Theory
Read the transcript 12,240 words
-
13
1:18:47 Download MP3
Competition and Monopoly 2006
Naturally occurring monopolies do not last long. Competition emerges to upset them. The sovereignty of the individual defines the free market. The only monopolies that do persist are those maintained by government interventions.
Austrian Economics OverviewMonopoly and Competition
Read the transcript 11,789 words
-
14
1:35:08 Download MP3
Money and Prices 2006
Barter – direct exchange- is inefficient because of the lack of a double coincidence of wants. Some third medium was sought to solve this. It is called money. Exchanges are not equal, they are win-win, with each party gaining more than he is giving or the exchange would not be made.
Austrian Economics OverviewMoney and BankingPricesMoney and Banks
Read the transcript 13,998 words
-
15
1:26:58 Download MP3
Banking and the Business Cycle 2006
Loan banking is non-inflationary. Interest rates on loans are merely reflective of price spreads. All speculation, on the free-market, is self-correcting and speeds adjustment, rather than cause economic trouble.
Austrian Economics OverviewBusiness CyclesMoney and BankingBooms and BustsMoney and Banks
Read the transcript 11,952 words
People in this series
Speakers
Recording dates, summaries and topics for 15 of these 15 lectures come from the Mises Institute's page for Introduction to Austrian Economic Analysis, checked 2026-09-28.
Community
Discuss this course
No thread on Mises Community names this course yet. Start one.
Questions
About this series
- Is Introduction to Austrian Economic Analysis free to listen to?
- Yes. All 15 mirrored recordings stream in the browser or download as video and audio, at no cost and with no signup.
- How long is Introduction to Austrian Economic Analysis?
- 15 recordings, 21.2 hours in total.
- Who lectures in Introduction to Austrian Economic Analysis?
- Joseph T. Salerno.
- When was Introduction to Austrian Economic Analysis recorded?
- 2006, per the recording dates recovered for this series.
- Is there a transcript of Introduction to Austrian Economic Analysis?
- Yes. 10 of the 15 mirrored recordings have one, 124,960 words in total, free to read on each lecture's page and searchable in the browser.
Playback speed
Keyboard shortcuts
- Space or K
- Play or pause
- J or left arrow
- Back 15 seconds
- L or right arrow
- Forward 30 seconds
- , and .
- Slower and faster
- N and P
- Next and previous lecture
- ?
- This list