What is our purpose?

«Understanding How Society Works»: An Introduction to the Austrian School of Economics,  custom-made for the entrepreneur and the life-long learner

The Socratic maxim that the recognition of our ignorance is the beginning of wisdom has profound significance for our understanding of society.

F. A. von Hayek

Although, Austrian Economics ranks among the most innovative and pertinent schools of thought, no comprehensive curriculum for the general public and the non-specialist has yet been designed and offered. This notable deficiency is filled with the course Understanding How Society Works. This Introduction is designed to explain the Austrian School’s theoretical and practical significance in a condensed form comprising its methodology, philosophical underpinnings and its main socio-economic tenets. The course serves as an addition to the Liechtenstein Academy’s programs at hand and is structured as a sequence of self-contained classes.

In order to be compatible with the standards of the ‘European Transfer Credit System’ (ETCS) and ‘Western Association of Schools and Colleges’ (WASC) in the US, the course is organized in academic units (1 unit=6 hours of instruction). Thus, all classes can be taken individually any time they are offered. The instruction will be bilingual in English and German. Upon request all modules can be offered in Spanish as well.

The comprehensive curriculum in Austrian Economics targets both, interested individuals and key opinion leaders in politics, media, academia as well as entrepreneurs and opinion leaders.

Didactic Concept

To weigh up issues smartly, our fast-moving lifestyle, drowned by information and data demands a minimum of theoretical knowledge about the socio-economic systems that dominate the world. It is thus a precondition of any meaningful political debate that attempts to move beyond hollow slogans.

In close co-operation with ECAEF and modeled after the seminars at Stanford University’s Hoover Institution, we have developed a thought-provoking course specifically designed with the busy entrepreneur, the life-long learner and the general public in mind. With its innovative multidisciplinary approach this course features 8 stand-alone classes (2 days each), which are designed as an introduction to Austrian Economics, arguably the most advanced school of thought today that offers a viable alternative. The 8 modules cover a wide area of subjects comprising Social-, Political- and Legal Philosophy, the most decisive issues in economic theory, as well as current problems of demography and sociology. Due to their unique structure, all classes can be taken individually any time they are offered and thus affirm dependable flexibility. To enhance an interactive and open-ended learning experience and to warrant an optimal lecturer/student ratio, the class size may not exceed 25 students/module. Our methodological and individualistic approach not only promotes open-ended learning through small-group lectures and directed group studies (DGS), it supports also spontaneous in depth discussions of realistic problems.

After all, there is nothing more practical than a good theory!

We select our instructors from a pool of world-class academics and thought leaders associated with internationally acclaimed universities and think tanks.