Entrepreneurship & the Economy

Catalog description

Description: Explore the role of entrepreneurship in the economy. Learn why the market economy is best understood not as a system or equilibrium but as an unfolding process with entrepreneurship as its driver. The course introduces the teachings of the Austrian school of economics, which focuses on economic understanding through reasoning and logic, not statistical analysis and mathematical modeling. Austrian economics recognizes entrepreneurial value creation as the core of the market process, that value lies in the eyes of the beholder, and that productive capital exists in complex structures intended to produce specific goods and services. Same course as ECON 4353. May not be used for degree credit with EEE 5103 or ECON 5353 .