Lesson 1, Topic 1
In Progress

1.3 Critique of Mainstream Economics

January 20, 2024

1.3.1 Austrian vs. Neoclassical Economics: Compare and contrast Austrian Economics with neoclassical economics, highlighting differences in methodology, assumptions, and conclusions. Emphasize the unique contributions of Austrian Economics to economic thought.

1.3.2 Government Intervention: Examine the Austrian critique of government intervention in the economy. Discuss how Austrian economists argue that state interventions can lead to unintended consequences and distortions in market processes.

1.3.3 Praxeology: Introduce praxeology as the distinctive methodology of Austrian Economics, emphasizing the role of deductive reasoning in economic analysis. Explore how praxeology sets Austrian Economics apart from empirically driven approaches.