Keynes, Krugman, and the Crisis

Economics Econ730 — with Robert P. Murphy

COST: $145 LENGTH: 8 WEEKS

DATES: JUNE 29, 2011 - AUGUST 23, 2011

STATUS: OPEN FOR ENROLLMENT

Not every pundit and policy-maker is a Keynesian, but Keynesian viewpoints have seeped into almost every facet of public discourse on economic policy. To understand what guides current policy, and what has led us to the present economic crisis, it is essential to understand Keynesianism. In this course, Austrian economist Robert Murphy will help you do just that. He will do so by taking you to the source: John Maynard Keynes himself. He will explain the basic doctrines of Keynes’ economics in clear language. He will also introduce you to the refinements added by Keynesianism’s later proponents. He will especially discuss the positions of the most prominent present-day Keynesian, Paul Krugman. Finally, Dr. Murphy will explain the role Keynesianism played in the recent financial bubble and its aftermath. And of course all throughout, Dr. Murphy will apply the analysis of Keynesianism’s most formidable opponent: Austrian Economics.

Lectures

The video lectures are online, and use Webex, the industry-standard web conferencing service. Lectures will be Wednesday evenings, 7:00-8:30 pm EDT. They will be recorded and made available for enrolled students to download.

Reading

All assigned readings for the course will be available for free online.

Weekly Topics

Economics Before Keynes
Keynes on the Causes of Depressions
Keynes on Alleviating Depressions
Hayek vs. Keynes
The Neo-Keynesians
Krugman and Japan
Krugman and the Bubble
Krugman and the Crisis

Grades and Certificates

The final grade will depend on quizzes and exams. The Mises Academy is currently not accredited, but this course is worth 3 credits in our own internal system. Feel free to ask your school to accept Mises Academy credits. You will receive a digital Certificate of Completion for this course if you take it for a grade, and a Certificate of Participation if you take it on a paid-audit basis.

Refund Policy

If you drop the course during its first week (7 calendar days), you will receive a full refund, minus a $25 processing fee. If you drop the course during its second week, you will receive a half refund. No refunds will be granted following the second week.