Bridging the Gap between Entrepreneurship Teaching and Economics

Although entrepreneurship education is thriving, it often lacks a substantial
foundation in economic theory and history, and therefore also an
appreciation of the overarching social significance of entrepreneurship. This
paper explores one way economics can enhance entrepreneurship teaching:
by discussing the social and institutional basis of entrepreneurship, as well
as its economic meaning and implications. To this end, I provide a list of
economic readings that can be used in undergraduate entrepreneurship
courses, along with brief narratives explaining some of the most important
ideas these works communicate. The readings highlight key themes from
the economics of enterprise, such as the importance of institutions, the
roles of risk and uncertainty, the causes of profit, the process of
entrepreneurial decision making, the sovereignty of consumers, and the
effects of entrepreneurial competition.