Introduction to Microeconomics

11. The Structure of Production

Austrian Economics OverviewProduction Theory

02/12/2010Audio/Video
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.
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12. Labor and Unions

Austrian Economics OverviewInterventionismMonopoly and CompetitionProduction Theory

02/12/2010Audio/Video
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.
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13. The Labor Market

Austrian Economics OverviewProduction TheoryValue and Exchange

02/12/2010Audio/Video
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.
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14. Interest Rates and Course Review

Austrian Economics OverviewCapital and Interest Theory

02/12/2010Audio/Video
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.
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