EC235 Free Market Economics
SOUTHEAST MISSOURI STATE UNIVERSITY
Department of Economics and Finance
COURSE SYLLABUS - EC235, Free Market Economics

Revised Spring 1999

I. Catalog Description and Credit Hours of Course

Alternative methodology to conventional economics, praxeology, which stresses the deductive approach. Frequently referred to as the Austrian School, this approach dominates the analysis of the strongest proponents of free markets or laissez faire. 3 credit hours.

II. Prerequisite(s)

  NONE

III. Purposes or Objectives of the Course

The purpose of the course is to examine both economic theory and issues using the methodology of the Austrian school.

IV. Expectations of Students

The average student should plan to spend two hours on outside preparation for each hour of class. Each student is expected to participate in class discussion. Reading assignments are to be completed by the assigned date. Students will keep a journal subject to random review. The journal will also house periodic essay assignments. Examinations will be written.

V. Course Outline

A. Basic Theory

1. Fundamentals of Human Action

2. Barter Exchange

3. Monetary Exchange

4. Utility and Price

5. The Structure of Production

6. Interest Rate Determination

B. Analysis

1. Entrepreneurship

2. Monopoly and Competition

3. Money

4. Market Intervention

VI. Textbook(s) and/or Other Required Materials or Equipment

Man, Economy, and State, Rothbard, Murray N., Los Angeles: Nash, 1962.

VII. Basis of Student Evaluation

Students will be evaluated according to their performance on examinations, as well as the substance and form of their journals.