What Is Entrepreneurship?
Economics of Entrepreneurship Series Module 1
Module 1: What is Entrepreneurship?
What does it mean to be entrepreneurial? What virtues do entrepreneurs have and what behaviors do they exhibit? What kind of character do successful entrepreneurs tend to have? What is the specific role of entrepreneurs in the economy? What do entrepreneurs do, precisely? How can I be an entrepreneur?
Most people identify an entrepreneur as someone who creates a business and assumes the risk of doing so in return for profits. While this description is correct, more broadly it can be said that entrepreneurs create value by moving resources into more productive uses. They do this through innovating new products or processes to replace old ones and by discovering unnoticed opportunities to profit and acting on those opportunities. This series of lessons introduces the concept of entrepreneurship as understood by several leading economists. Students will explore the key traits of an entrepreneur and discuss the entrepreneur’s role in society. Let’s begin our journey in learning how entrepreneurs change the world!
Additional Resources
Additional resources for facilitating this course in the classroom or to supplement the online course are located in the introduction section of the online course, under "Additional Resources."
FEE Courses
Overview
Additional Resources
Concepts and Terms
Objectives
Entrepreneurship in a Broad Sense
Entrepreneurship in a Narrow Sense
Going Further
What is an Entrepreneur? by Entrepreneur Week
Watch Video
Think and Reflect
The 7 Traits of Successful Entrepreneurship by Joe Robinson
Read Article
Think and Reflect
Activity: Discovering Your Passion
Activity: Research a Successful Entrepreneur
Lesson Quiz
Knowledge Recap
Bonus Material
Introduction
Modern Day Heroes by Learn Liberty
Watch Video
Think and Reflect
Activity: Hero Challenge
Think and Reflect
The Heroic Journey by Dwight Lee
Read Article
Think and Reflect
Watch Video: Entrepreneurs Can Change The World
Lesson Quiz
Knowledge Recap
Bonus Material
Introduction
How to be an Entrepreneur
Watch Video
The Entrepreneur
Watch Video
Think and Reflect
Activity: Serving Others in Your Community
Poverty and Entrepreneurship by John Stossel
Watch Video
Think and Reflect
Lesson Quiz
Knowledge Recap
Bonus Material
Introduction
Watch Video
Think and Reflect
200 Countries, 200 Years, 4 Minutes by Hans Rosling
Watch Video
Small Business and Entrepreneurship by E.C. Pasour
Read Article
Think and Reflect
Lesson Quiz
Knowledge Recap
Bonus Material
Introduction
Mises Boot Camp
Watch Video
Think and Reflect
Entrepreneurship by Russell Sobel
Read Article
Think and Reflect
Comparing Three Views of Entrepreneurship
Lesson Quiz
Knowledge Recap
Bonus Material
Module 1 Badge