We will use theory, data, case studies, and guest speakers to investigate what it means to be an entrepreneur and what characterizes the entrepreneurial society. The term entrepreneur conjures up the image of a risk-taking maverick, but many entrepreneurs are in fact risk-averse. It is important, then, to begin the course by working out a definition of entrepreneurship that captures the essential elements of this elusive concept. From there, we will discuss the role of the entrepreneur in both economic transactions and in non-market environments such as politics. The rest of the semester will be focused on studying how institutions, such as the rule of law, foster or hinder entrepreneurship, and what the resulting impact is on economic growth and other measures of societal well-being.