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Neoclassical Economics: Some Marshallian Insights

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  • KRUME NIKOLOSKI

    (GOCE DELCHEV UNIVERSITY - STIP, REPUBLIC OF MACEDONIA)

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.

Suggested Citation

  • Krume Nikoloski, 2016. "Neoclassical Economics: Some Marshallian Insights," Annals - Economy Series, Constantin Brancusi University, Faculty of Economics, vol. 4, pages 85-90, August.
    • Handle: RePEc:cbu:jrnlec:y:2016:v:4:p:85-90
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    References listed on IDEAS

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    1. Screpanti, Ernesto & Zamagni, Stefano, 2005. "An Outline of the History of Economic Thought," OUP Catalogue, Oxford University Press, edition 2, number 9780199279142.
    2. Katia Caldari & Tamotsu Nishizawa, 2011. "Marshall’s Ideas on Progress: Roots and Diffusion," Chapters, in: Heinz D. Kurz & Tamotsu Nishizawa & Keith Tribe (ed.), The Dissemination of Economic Ideas, chapter 6, Edward Elgar Publishing.
    3. Caldari, Katia, 2004. "Alfred Marshall's Idea of Progress and Sustainable Development," Journal of the History of Economic Thought, Cambridge University Press, vol. 26(4), pages 519-536, December.
    4. J. Stanley Metcalfe, 2007. "Alfred Marshall's Mecca: Reconciling the Theories of Value and Development," The Economic Record, The Economic Society of Australia, vol. 83(s1), pages 1-22, September.
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