Austrian Economics Master URJC
The Austrian Economics (AE) Master Program at the University Rey Juan Carlos in Madrid is the only European-wide accredited Master program focusing exclusively on the teachings of the Austrian School of Economics.[1] Its teachings are highly critical of mainstream economics and instead promoting the ideas of free market capitalism.[2] Director of the program is Prof. Dr. Jesus Huerta de Soto.[3]
Austrian School of Economics[edit]
The Austrian School of Economics is a school of economic thought that is based on the concept of methodological individualism. It derives its name from its Austrian founders Carl Menger, Eugen von Böhm-Bawerk and Ludwig von Mises. Other significant Austrians include Murray Rothbard, Nobel Laureate Friedrich Hayek, Henry Hazlitt, Israel Kirzner and Jesus Huerta de Soto.
The Austrian School seeks the explanation of economic phenomena through the analysis of the actions and interactions of the individual.[4] It is the judgements, motivations and choices of each individual based on his subjective knowledge that determine all his actions. Likewise these subjective opinions and valuations determine the demand for goods and services (subjective theory of value), and consequently their market prices. Furthermore the Austrian School of Economics is based on the concepts of marginalism and subjective time preference.[5] Further emphasis is given to the spontaneous organizing powers of the markets.[6]
Economists of the Austrian School are highly critical of mainstream economic teachings.[7] With Hayek being awarded the Nobel Prize in Economics, and especially after the financial crisis 2007/08 the teachings of the Austrian School experienced a growing interest.[8]
Degree[edit]
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The Austrian Economics Master Program is unique in its kind.
Since 2007 the King Juan Carlos University, Madrid offers this 1-year Masters Program.[9] It is an investigation Master Programm, preparing the students for the subsequential PHD Program.[10] The teachings of the Master focus on Dynamic Efficiency and Market Processes, the Evolution of Institutions and Society, Austrian Business Cycle Theory, Austrian Monetary Cycle and History of Economic Thought.[11]
The teachings of this course are critical of mainstream neoclassical and welfare economics. In line with the Austrian's rejection of mathematical modelling, econometrics and macroeconomic analysis the Master's program (unlike other Economics programs) is largely based on the praxeological approach following Mises.
Notable alumni of this program are the German economists Prof. Dr. Philipp Bagus, Spanish libertarian economist and co-founder of the Institute Juan de Mariana Prof. Dr. Juan Ramón Rallo.
Professors[edit]
- Prof. Dr. Jesús Huerta de Soto (Director)[12]
- Prof. Dr. Philipp Bagus
- Prof. Dr. César Martínez Meseguer
- Prof. Dr. Juan Ramón Rallo
- Prof. Dr. Antonio Martínez González
- Prof. Dr. Miguel A. Alonso Neira
Weblinks[edit]
References[edit]
- ↑ "Master Austrian Economics URJC".
- ↑ Huerta de Soto, Jesus (2009). The Theory of Dynamic Efficiency. New York: Routledge. Search this book on
- ↑ "Profesorship Master Austrian Economics URJC".
- ↑ Menger, Carl (2007) [1976]. Principles of Economics. Auburn, Alabama: Ludwig von Mises Institute. Search this book on
- ↑ White, Lawrence (1977). "The Methodology of the Austrian School Economists" (PDF). Center for Libertarian Studies.
- ↑ Huerta de Soto, Jesus (2009). The Theory of Dynamic Efficiency. New York: Routledge. Search this book on
- ↑ Backhouse, Rodger E. (Summer 2000). "Austrian Economics and the Mainstream: View from the Boundary" (PDF). The Quarterly Journal of Austrian Economics. 3–2: 31–43.
- ↑ "Die Zeit - Wiener Schule der Nationalökonomie - Der Ahnungslose Staat".
- ↑ "Forum Freie Gesellschaft - Austrian School of Economics".
- ↑ "Master Economia Austriaca Objetivos".
- ↑ "Mises Hispano - Entre Mises y Rothbard".
- ↑ "J. Huerta de Soto Official Website".
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