NEOCLASSICAL ECONOMICS: SOME MARSHALLIAN INSIGHTS

Krume Nikoloski
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Krume Nikoloski: GOCE DELCHEV UNIVERSITY - STIP, REPUBLIC OF MACEDONIA

Annals - Economy Series, 2016, vol. 4, 85-90

Abstract: In this paper are going to be analyzed the theories of supply, demand and equilibrium. It is about a neoclassical economics, Nobel laureate economist Alfred Marshall who is the inventor of the analyzed theories. And of course that these theories which that are subject to elaboration remain valid till today in the modern market economy conditions. Marshall also was the first who introduced the term "economics", which is in mass use. He studied, primarily the problems of production, distribution, exchange and consumption in terms of individuals, households, enterprises. With its total work appears as the founder of macroeconomics. I personally believe, that understanding the different approaches and perspectives on the economy, the reasons for these differences and how they evolved over time, provides a historical and philosophical context that encourages most economists to use critical analysis of current economic tools and their application.

Keywords: demand; supply; production; competition; distribution. (search for similar items in EconPapers)
Date: 2016
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