Texas Tech University

Graduate Workshop in Applied Price Theory

January 10-12, 2019 — Free Market Institute
Texas Tech University — Lubbock, TX

A Workshop for Current and Prospective Ph.D. Students featuring Deirdre N. McCloskey

About the Program

Ph.D. courses in microeconomics often focus on formal proofs and mathematical rigor at the expense of thoroughly learning how to apply microeconomic theory to the real world. Professor Deirdre N. McCloskey's The Applied Theory of Price has been out of print since 1985, but is still regarded as one of the classic microeconomic texts in the Chicago School of economic thought. The text is difficult, not because of its mathematical rigor, but because it demands that students actually learn to think like economists. Prof. McCloskey is updating this text in light of developments since 1985 and to include 'humanomics,' or the humanities and ethics, and the distinctive contributions of those disciplines to economic analysis.

From January 10-12, 2019, the Free Market Institute will host the Graduate Workshop in Applied Price Theory, which aims to provide supplemental training to both current and prospective Ph.D. students in economics and closely related disciplines.

Prof. Deirdre N. McCloskey — Emerita Professor of Economics, History, English and Communication at University of Illinois at Chicago — will serve as the lead facilitator of the workshop, in which she will give a series of lectures. She will also lead breakout sessions based on a selection of chapters from the original text and a selection of updated and revised chapters that will contribute to the forthcoming edition. These sessions will focus on problem sets related to the selected readings and subsequent lectures from Prof. McCloskey.

The workshop will also include a discussion — employing the Liberty Fund colloquium format — of classic works that contributed to the price theory tradition developed by several economists at the University of California Los Angeles (UCLA) in the second half of the twentieth century.

In addition to the supplemental training in price theory, this workshop presents a unique opportunity for students participants to offer feedback for the continued development of parts of Prof. McCloskey's forthcoming manuscript.

Through this program, the Free Market Institute aims to encourage both the intellectual and professional development of students both at Texas Tech University and from other colleges and universities.

Application Procedure

To facilitate discussion among the participants and interaction with Prof. McCloskey that is both substantive and productive, the Free Market Institute will limit the number of invitations for the program. Given the limited space in the program, interested students are encouraged to apply for consideration of an invitation by sending the following materials to the Free Market Institute:

  • A current Resume/CV that indicates graduate student status (i.e. first/second/third year Ph.D. student, Master's degree earned and intending to apply for admission to Ph.D. programs, etc.) and
  • A professional academic reference (with contact information).

Invited participants will receive all program materials, local lodging accommodations (up to 3 nights) and meals during the program. Invitees will also be eligible to receive a $500 travel stipend to support their attendance and participation.

The deadline to apply for the workshop is Friday, October 19, 2018.

Please send all application materials and direct all inquiries to the Free Market Institute at free.market@ttu.edu.

Program Schedule

A preliminary program schedule is copied below. The program will begin with a reception and dinner on Thursday evening and will conclude on Saturday afternoon. Participants can plan to depart in the late afternoon or evening on Saturday or in the morning on Sunday.

Those participants staying on Saturday evening will have their lodging expenses covered as part of the invitation, but will be responsible for their meals and entertainment after the program adjourns on Saturday afternoon.

Thursday, January 10, 2019

3:00–5:30 PM Arrival and Check-In
6:00–7:00 PM Reception
7:00–8:15 PM Dinner and Remarks
Deirdre N. McCloskey
8:15–9:00 PM Reception

Friday, January 11, 2019

7:30–8:00 AM Coffee/Light Breakfast
8:00–8:45 AM Breakout — Problem Set 1
9:00–10:15 AM Lecture 1
Deirdre N. McCloskey
10:30–11:15 AM Breakout — Problem Set 2
11:30AM–12:45 PM Lecture 2
Deirdre N. McCloskey
12:45–1:45 PM Lunch
2:00–2:45 PM Breakout — Problem Set 3
3:00–4:15 PM Lecture 3
Deirdre N. McCloskey
4:15–7:00 PM Break
7:00 PM Dinner

Saturday, January 12, 2019

8:30–9:00 AM Coffee/Light Breakfast
9:00–9:45 AM Breakout — Problem Set 4
10:00–11:15 AM Lecture 4
Deirdre N. McCloskey
11:30 AM–12:45 PM Lunch
1:00 PM–2:30 PM UCLA Price Theory Discussion
2:30 PM Adjourn

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