New Austrian School of Economics – Critique of Mainstream Austrian Economics

Marginalism; Marketability; The Real Bills Doctrine vs. the Quantity Theory of Money;
Interest versus Discount; The True Role of the Gold Standard
September 3 – 9, 2012
(10am-12:30 and 4pm-6pm)
Lecturer: Prof. Antal E. Fekete
Guest Lecturers: Sandeep Jaitly (United Kingdom,
Keith Weiner (United States of America)
Rudy Fritsch (Canada,
Peter van Coppenolle (Belgium)

Guest Lecture
Guest lecturer: Professor Juan Ramón Rallo
King Juan Carlos University, Madrid
Neither 100 percent reserve nor free banking: A vindication of the Real Bills Doctrine
Location: Munich, Germany

The New Austrian School of Economics is a series of lectures established by Professor Antal E. Fekete which examines a branch of economic science mainly based on the work of Carl Menger (1840-1921) and the theories of Ludwig von Mises and Friedrich August von Hayek.

Professor Antal E. Fekete is an expert on monetary science. In 1984 the American Institute of Economic Research in Massachusetts appointed him to the Committee of Monetary Research and Education to spend a year as visiting fellow. After one year he was invited by Congressman William E. Dannemeyer to work in Washington D.C. on fiscal and monetary reform of the United States. More about Antal E. Fekete:

This course is a seven-day, twenty-lecture session. Its topics are not recycled but new material. Its completion will earn one credit of the four needed towards a Bachelor of Monetary Science (BMSc) degree handed out by Prof. Fekete. It is meant for those, including beginners, who are interested in the theory of money, credit, and banking, with special emphasis on the current financial and economic crisis. Previous courses are not a prerequisite.

Registration Information:
The participation fee for the full course is 1,100.00 Euro (incl. 19% German VAT). Day tickets can be purchased: 1-day: 300.00 Euros, 2- days: 500.00 Euros, 3 and more days: 200.00 Euros/day. This includes tuition, non-alcoholic drinks and snacks during the lectures, printed lecture notes for the course. Hotels and Restaurants are within walking distance and you will receive a list of suggestions. There is a EUR 300.00 non-refundable pre-registration fee that will be credited toward the tuition fee. Students will receive a scholarship reducing the tuition fee to 100.00 Euro for the complete seminar (limited to 10 scholarships in total). Organizers of the course are Wilhelm Rabenstein and Ludwig Karl. In order to register for the course you can get in contact with us via email ( or phone (+49-170-380 39 48. Before calling, please consider a possible time lag. You might also want to take a look at the New Austrian School of Economics on Facebook:

Travel Information:
Munich – also home to the famous Oktoberfest – is located in the southern part of Germany. It can be reached easily from throughout the world.

Arriving by plane:
Munich´s Franz-Josef-Strauss Airport (MUC) is one of the biggest in Europe and located in the North-East of Munich. Trains (S-Bahn) going to the Munich Eastern Central Station (interchange) are leaving every couple of minutes. From there on it will only take you a tube ride of 4 minutes to get to the area where the venue is located.

Arriving by train:
Trains to Munich can be taken from almost every station in Europe. In case you arrive at the Central Station and not at the Eastern Central Station it will only take you a tube ride of eventually ten minutes to get there and on to venue from there.

Arriving by car:
Munich has a perfect traffic connection and is easily reachable from throughout of Europe. Once arrived in Munich you only have to get on “Mittlerer Ring” which surrounds the inner city and leave at the exit “Bogenhausen”. From there on it will only take you around 5 minutes by car to get directly to the venue. The direct surrounding is one of the few in Munich where you can park your car for free right in front of the house.

The Venue:
The venue is a villa in a beautiful setting not far away from the centre but located along the river “Isar” on the last borders of the famous park “Englischer Garten”. Surrounded by almost exclusively consulates general the villa belonging to a student fraternity is centered in a peaceful and easily reachable part of Munich with the underground, the bus and the tramway within walking distance.

The address:
Maria-Theresia-Str. 20
81675 Munich, Germany

You can watch the recordings of this seminar for free on YouTube or listen to it as a podcast