In this first lecture of a series of lectures covering the basics of applied Austrian economics,  Joseph Salerno introduces a number of basic concepts including utility, exchange, psychic cost, choice, value, and marginal utility. 

In this first lecture of a series of lectures covering the basics of applied Austrian economics, Joseph Salerno introduces a number of basic concepts including utility, exchange, psychic cost, choice, value, and marginal utility.

In this first&nbsp;lecture of&nbsp;a series of lectures covering the basics of applied Austrian economics,&nbsp;&nbsp;Joseph Salerno introduces a number of basic concepts including utility, exchange, psychic cost,&nbsp;choice, value, and marginal utility.&nbsp;

1. Scarcity, Choice, and Value

Joseph T. Salerno and Peter G. Klein are two of the most productive micro-economists in the Austrian School today. This seminar provides an introduction to Austrian Economics. Presented at the Mises Institute, 11-15 June 2007.

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1. Scarcity, Choice, and Value

1. Scarcity, Choice, and Value

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