Over the last thirty years, economists have improved their views significantly in regard to content—but not in regard to method or to economics' basic concepts. Economics as a science desperately needs the application of a proper epistemology. This course explores the application of Objectivist principles of methodology to economics, refuting prominent anti-concepts and proposing the proper conceptualization. Dr. Binswanger covers such topics as: the proper definition of "economics"; is economics "value free"?; what "reduction to the perceptual level" means in economics; "scarcity" and "the Garden of Eden premise"; capitalism and "socially objective value"; the "natural selection" of productive ability; "consumer sovereignty" as altruism; the epistemological meaning of money; the proper definition of "inflation"; "externalities"; "market failure"; the proper concept of "monopoly"; the answer to the "free rider" argument; the "Laffer Curve" as appeasement; the rampant "reification of the zero" in economics.