Thomas Hogan: The First Semester at America's Newest University

Dec 12, 2024

Thomas Hogan, Professor of Economics at the University of Austin, shares insights from his transition back to academia after years in the business world. He discusses the innovative culture and rigorous academic environment at UATX. The conversation covers his unique Socratic teaching approach, the significance of economic literacy, and the exciting Polaris project aimed at long-term student engagement. Hogan also highlights the groundbreaking Bitcoin endowment fund and emphasizes the need for open dialogue in education to foster a robust intellectual culture.

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ANECDOTE

UATX's First Term

The first term at UATX was busy and exciting, filled with planning, teaching, and events.
The intense classes, guest speakers, and future planning kept everyone engaged.

question_answer

ANECDOTE

Intense Freshman Workload

UATX freshmen tackled a demanding 50+ book reading list, including deep dives into Aristotle and ancient literature.
Hogan expresses amazement at students' ability to handle the intense workload.

insights

INSIGHT

Polaris Project

UATX's Polaris project is a unique four-year endeavor, unlike a traditional senior thesis.
Students develop projects ranging from businesses to artistic portfolios.

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Navigating New Horizons: The University Experience

03:13 • 24min

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Fostering Open Dialogue in Education

26:58 • 25min

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Unlocking Economic Understanding

51:50 • 19min

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Innovating Finance and Education: The Bitcoin Connection

Exploring Future Economic Insights and Community Engagement

01:17:34 • 3min

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Capitalism and freedom

Milton Friedman

In this influential book, Milton Friedman discusses the role of economic capitalism in a liberal society. He argues that economic freedom is a precondition for political freedom and advocates for limited government intervention. The book covers various topics, including the relation between economic and political freedom, the role of government in a free society, monetary policy, international trade arrangements, and the role of government in education. Friedman's work has been highly influential in economic theory and policymaking, and the book has been translated into eighteen languages and sold over half a million copies since its publication in 1962.

Economics in one lesson

Henry Hazlitt

In 'Economics in One Lesson', Henry Hazlitt provides a concise and instructive introduction to economics by dissecting common economic fallacies. The book's central lesson is that good economics involves considering the long-term and indirect consequences of any policy for all groups, not just the immediate effects on a specific group. Hazlitt uses examples like the 'broken window fallacy' to illustrate how focusing only on immediate benefits can overlook the broader, often negative, consequences. The book advocates for free markets, economic liberty, and non-governmental solutions, making it a critical read for understanding basic economic principles and the pitfalls of government intervention.

A conflict of visions

Thomas Sowell

In this book, Thomas Sowell explores the fundamental differences in visions of human nature that underlie many political and ideological disputes. He identifies two primary visions: the 'constrained' vision, which sees human nature as inherently self-centered and limited by systemic processes, and the 'unconstrained' vision, which views human nature as malleable and perfectible through societal intervention. Sowell argues that these visions shape opinions on a wide range of issues, from justice and equality to power and social institutions. The book blends history, economics, philosophy, and law to provide a comprehensive understanding of these conflicting visions and their implications for political thought and action.

The Tuttle Twins

Books About Freedom For Kids

Connor Boyack

The Tuttle Twins series, designed for children aged 5-10, tackles complex topics such as free markets, competition, individual rights, the non-aggression principle, and personal responsibility in an accessible manner. The series is based on the idea of introducing children to the principles of a free society and fills a void in the children’s literature market by covering economic and government principles not typically part of elementary education. The books follow the adventures of twins Ethan and Emily as they learn about these concepts through engaging stories and characters.

The Use of Knowledge in Society

Friedrich Hayek

In this seminal article, Hayek argues that the knowledge necessary for economic decision-making is dispersed among individuals and cannot be centralized. He emphasizes that market prices play a crucial role in disseminating this knowledge, allowing individuals to make rational economic decisions without needing complete information. Hayek critiques central planning, suggesting that it cannot match the efficiency of market mechanisms in utilizing local and specific knowledge held by various members of society.

I, Pencil: My Family Tree as Told to Leonard E. Read

Leonard E. Read

Written from the perspective of a pencil, the essay details the intricate global supply chain and the numerous individuals involved in its creation. It emphasizes that no single person or centralized authority could coordinate the vast array of skills and resources required to produce a pencil. The essay argues for the efficiency of market economies and the futility of central planning, drawing on concepts from Adam Smith and Friedrich Hayek.

Thomas Hogan is a professor of Economics at the University of Austin, where he is making a return to academia after spending years in the business world. Thomas has worked in finance and business, and served as the Chief Economist for a US Senate Community.

In this episode, expect to learn about Thomas’ first term teaching at UATX and the culture they are fostering at America’s newest university. You’ll learn about the approach Thomas is taking in his classroom applying a socratic, discussion based format for his seminars, and employing the Chatham House Rule during classroom debates. You’ll also learn about the development of the curriculum at UATX and why economics is so important for people to understand, regardless of what field they’re going into.

Chapters:

0:00 - Intro

3:44 - The First Term at University of Austin

6:13 - The Faculty Experience at the University of Austin

10:16 - The Polaris Project and Thomas' Classroom

20:38 - What Brought Thomas to UATX

25:22 - What Led Thomas to Teaching

26:57 - UATX vs. George Mason

31:04 - Setting a Culture for Debate

36:31 - The Chattam House Rule

42:02 - The Hiring Process at UATX

47:18 - The Structure of Classes at UATX