Lecture series · recorded 1986
Introduction to Microeconomics
Introduction to Microeconomics is a free lecture series (14 recordings, 13.8 hours) you can stream or download at freecapitalists.org, with Murray N. Rothbard.
Presented by Murray N. Rothbard in 1986 at New York Polytechnic University. Recorded by Hans-Hermann Hoppe.
Cover painting: NRA chief Hugh S. Johnson salutes the Blue Eagle parade on Fifth Avenue, New York, September 1933. See every painting in the art gallery.
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01
1:01:52 Download MP3
Intro to Micro: Demand and Supply 1986
Microeconomics is concerned with the actions of individuals. The focus of macroeconomics is entire sectors of the economy.
Austrian Economics Overview
Read the transcript 10,141 words
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02
35:00 Download MP3
Value 1986
Why is it that things like bread and water which have high use values are cheap while on the other hand luxury items like diamonds are very expensive? This paradox was not solved until it became understood that people choose only a marginal unit - this loaf or this diamond.
Austrian Economics OverviewValue and Exchange
Read the transcript 5,518 words
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03
1:10:58 Download MP3
The Determination of Prices 1986
Price is determined by the equilibrium price and the equilibrium quantity. If your good is not selling, you lower the price. If your goods fly off the shelves you are selling too cheaply and you raise prices.
Austrian Economics OverviewPrices
Read the transcript 11,662 words
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04
1:07:58 Download MP3
Price Controls in the Oil Industry 1986
The disappearance of oil has been forecast every decade. Prices were overlooked. When the price is high it is more profitable to look for oil. Total reserves on the ground are higher than they were in 1890.
Austrian Economics OverviewInterventionismPrices
Read the transcript 11,973 words
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05
43:24 Download MP3
Minimum Price Controls 1986
Thou shalt not sell a certain product or service below a certain price, e.g. wheat, cotton, corn, cheese, sugar. This will result in an artificial unsold permanent surplus, as it does in the American farm situation.
Austrian Economics OverviewInterventionismPrices
Read the transcript 7,742 words
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06
1:01:57 Download MP3
Government Licensing of Industry and Minimum Wage 1986
The peanut butter crunch was in 1980. Crop acreage and production was cut down by 45% by government price support, import quotas, and cartelizing of the industry. The price of peanuts more than tripled.
Austrian Economics OverviewInterventionismBig Government
Read the transcript 9,964 words
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07
1:16:49 Download MP3
Mid-Term Review and The Theory of the Firm 1986
The objective of the corporate firm is to maximize profits and avoid losses - the same objective of the free market. But the costs are paid out before the income comes in. Stockholders will sell stock to shake up the managers.
Austrian Economics OverviewCapital and Interest TheoryProduction Theory
Read the transcript 13,318 words
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08
52:31 Download MP3
The Firm 1986
Business men must make sure they can cover their costs by incoming revenue. The production function will yield a certain quantity of a product. The firm considers marginal costs and average costs to weigh where along the demand curve production is.
Austrian Economics Overview
Read the transcript 8,748 words
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09
56:17 Download MP3
Monopoly and Competition 1986
The words monopoly and competition have been changed. Competition meant rivalry or competing, either active or potential. Businesses do not like this. Monopoly meant a grant of privilege by the government. It now means falling demand curve.
Austrian Economics OverviewMonopoly and CompetitionProduction Theory
Read the transcript 9,775 words
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10
58:23 Download MP3
Government Cartels 1986
The only cartels that have lasted have been government cartels. There is no essential difference between a cartel and an ordinary corporation or partnership. Not even the De Beers cartel is all powerful.
Austrian Economics OverviewInterventionismBig Government
Read the transcript 10,632 words
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11
59:12 Download MP3
The Structure of Production 1986
As factors of production, supply and demand of labor, land and capital will determine how much the producer will get out of this process. This process occurs in different stages.
Austrian Economics OverviewProduction Theory
Read the transcript 9,643 words
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12
1:27:39 Download MP3
Labor and Unions 1986
In order for anyone to make ethical judgments, he must know the consequences of his various actions. In questions of union actions displacement or unemployment for oneself or others will be considered unfortunate by most people.
Austrian Economics OverviewInterventionismMonopoly and CompetitionProduction Theory
Read the transcript 15,246 words
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13
33:58 Download MP3
The Labor Market 1986
Economists can say little about population and its size, despite the gloomy views of Malthus. More people are a good thing because of the division of labor. Living standards are higher when populations are higher.
Austrian Economics OverviewProduction TheoryValue and Exchange
Read the transcript 5,672 words
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14
1:01:42 Download MP3
Interest Rates and Course Review 1986
The time market determines the pure rate of interest. Price per unit of time may be wages or rent. The interest income will be earned by the capitalist who has assumed the task of advancing present money.
Austrian Economics OverviewCapital and Interest Theory
Read the transcript 10,111 words
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Recording dates, summaries and topics for 14 of these 14 lectures come from the Mises Institute's page for Introduction to Microeconomics, checked 2026-08-04.
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About this series
- Is Introduction to Microeconomics free to listen to?
- Yes. All 14 mirrored recordings stream in the browser or download as audio, at no cost and with no signup.
- How long is Introduction to Microeconomics?
- 14 recordings, 13.8 hours in total.
- Who lectures in Introduction to Microeconomics?
- Murray N. Rothbard.
- When was Introduction to Microeconomics recorded?
- 1986, per the recording dates recovered for this series.
- Is there a transcript of Introduction to Microeconomics?
- Yes. Every lecture in the series has one, 140,145 words in total, free to read on each lecture's page and searchable in the browser.
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