| Neoclassical economists simplified many broad categories of market phenomena. | ||
| Neoclassical economics is considered to be a school of thought. | |||
| Neoclassical economics began when economists from Austria, France and England met. | |||
| Neoclassical economics subschools have the same leader. |
:
, , , , . Neoclassical economists simplified many broad categories of market phenomena ( ) : it reduces many broad categories of market phenomena ( ) ( 1).
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Neoclassical Economics
1. The most remarkable feature of neoclassical economics is that it reduces many broad categories of market phenomena to considerations of individual choice and, in this way, suggests that the science of economics can be firmly grounded on the basic individual act of subjectively choosing among alternatives.
2. Neoclassical economics began with the so-called marginalist revolution in value theory that emerged toward the end of the nineteenth century. Strictly speaking, neoclassical economics is not a school of thought (in the sense of a well-defined group of economists following a single great master) but more a loose amalgam of subschools of thought, each revolving around such acknowledged masters as Alfred Marshall in England, Leon Walras in France, and Carl Menger in Austria.
3. In England there was established the Cambridge school a variant of neoclassical economics that stressed continuity with the past achievements of the classical school. In France, the general equilibrium school was founded in 1874. This subschool investigated the mathematical conditions under which all markets could be in equilibrium simultaneously. The Austrian subschool focused on the essential problems of economic organization.
4. What these subschools have in common is the importance they attach to explaining the coordinating features of market processes in terms of plans and subjective evaluations carried out by individuals in the market subject to the constraints of technological knowledge, social custom and practice, and scarcity of resources.
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All the subschools of Neoclassical economics paid great attention to the analysis of
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| coordinating features of market processes in terms of plans and subjective evaluations | ||
| continuity with the past achievements of the classical school | |||
| the mathematical conditions under which all markets could be in equilibrium | |||
| the importance of economizing action in shaping economic institutions in the market |
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:
, , , .
All the subschools of Neoclassical economics paid great attention to the analysis of ( 煻) coordinating features of market processes in terms of plans and subjective evaluations ( ), .
: What these subschools have in common is the importance they attach to explaining the coordinating features of market processes in terms of plans and subjective evaluations ( , ) ( 4).
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Neoclassical Economics
1. The most remarkable feature of neoclassical economics is that it reduces many broad categories of market phenomena to considerations of individual choice and, in this way, suggests that the science of economics can be firmly grounded on the basic individual act of subjectively choosing among alternatives.
2. Neoclassical economics began with the so-called marginalist revolution in value theory that emerged toward the end of the nineteenth century. Strictly speaking, neoclassical economics is not a school of thought (in the sense of a well-defined group of economists following a single great master) but more a loose amalgam of subschools of thought, each revolving around such acknowledged masters as Alfred Marshall in England, Leon Walras in France, and Carl Menger in Austria.
3. In England there was established the Cambridge school a variant of neoclassical economics that stressed continuity with the past achievements of the classical school. In France, the general equilibrium school was founded in 1874. This subschool investigated the mathematical conditions under which all markets could be in equilibrium simultaneously. The Austrian subschool focused on the essential problems of economic organization.
4. What these subschools have in common is the importance they attach to explaining the coordinating features of market processes in terms of plans and subjective evaluations carried out by individuals in the market subject to the constraints of technological knowledge, social custom and practice, and scarcity of resources.
:
What caused the beginning of neoclassical economics?
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| Marginalist revolution did. | ||
| Classical economics did. | |||
| The school of thought did. | |||
| The general equilibrium school did. |
:
, , , , .
? Marginalist revolution did ( ), , : Neoclassical economics began with the so-called marginalist revolution in value theory that emerged toward the end of the nineteenth century ( 19 ) ( 2).
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Neoclassical Economics
1. The most remarkable feature of neoclassical economics is that it reduces many broad categories of market phenomena to considerations of individual choice and, in this way, suggests that the science of economics can be firmly grounded on the basic individual act of subjectively choosing among alternatives.
2. Neoclassical economics began with the so-called marginalist revolution in value theory that emerged toward the end of the nineteenth century. Strictly speaking, neoclassical economics is not a school of thought (in the sense of a well-defined group of economists following a single great master) but more a loose amalgam of subschools of thought, each revolving around such acknowledged masters as Alfred Marshall in England, Leon Walras in France, and Carl Menger in Austria.
3. In England there was established the Cambridge school a variant of neoclassical economics that stressed continuity with the past achievements of the classical school. In France, the general equilibrium school was founded in 1874. This subschool investigated the mathematical conditions under which all markets could be in equilibrium simultaneously. The Austrian subschool focused on the essential problems of economic organization.
4. What these subschools have in common is the importance they attach to explaining the coordinating features of market processes in terms of plans and subjective evaluations carried out by individuals in the market subject to the constraints of technological knowledge, social custom and practice, and scarcity of resources.
