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2011 NAR-SEIC Economics Lecture: The Austrian Business Cycle

2011 NAR-SEIC Economics Lecture: The Austrian Business Cycle

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Published by Donaldson Tan
On 19 August 2011, New Asia Republic and the SMU Economics Intelligence Club (SEIC) jointly organised a lecture on the Austrian Business Cycle. The Speaker is Dr Marian Eabrasu. He is a Professor of Economics at the Champagne School of Management in France and a former Fellow of the Mises Institute. Mises Institute is the leading research institution in the scholarship and research of the Austrian School of Economics.

SYNOPSIS
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The Austrian Business Cycle asserts that the boom and bust cycle of the economy is caused by an unsustainable and excessive credit expansion process which lowers the interest rate by creating more supply of money than what is being saved. As interest rate is a price signal reflecting the balance between consumption and saving, the artificial lower interest rate encourages consumption over savings and misleads entrepreneurs to invest in capital goods because the lower interest rate increases the value of the future cash flows.
On 19 August 2011, New Asia Republic and the SMU Economics Intelligence Club (SEIC) jointly organised a lecture on the Austrian Business Cycle. The Speaker is Dr Marian Eabrasu. He is a Professor of Economics at the Champagne School of Management in France and a former Fellow of the Mises Institute. Mises Institute is the leading research institution in the scholarship and research of the Austrian School of Economics.

SYNOPSIS
------------

The Austrian Business Cycle asserts that the boom and bust cycle of the economy is caused by an unsustainable and excessive credit expansion process which lowers the interest rate by creating more supply of money than what is being saved. As interest rate is a price signal reflecting the balance between consumption and saving, the artificial lower interest rate encourages consumption over savings and misleads entrepreneurs to invest in capital goods because the lower interest rate increases the value of the future cash flows.

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Published by: Donaldson Tan on Aug 20, 2011
Copyright:Attribution Non-commercial

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08/20/2011

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AUSTRIAN BUSINESS CYCLE THEORY.AN INTRODUCTION
Marian EABRASUmarian.eabrasu@groupe-esc-troyes.comNAR-SEIC EconomicsLecture 201119/08/2011
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OUTLINE
1.Introduction2.Monetarytheoryofbusinesscycles3.Austriantheoryofbusinesscycles4.Conclusions
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1. introduction
3
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