Neoclassical Economic Theory

Neoclassical theory is the dominant theory of economics. This theory is the source of countless publications that use copious amounts of mathematical formulas and are therefore difficult to understand and, more importantly, to evaluate. Although it mainly emphasizes individual choices, models inspired by this theory differ from each other in that they are based on different organizations of exchange. Therefore, before using mathematical formulas, as is done in this book, it is necessary to consider these forms of organization.

Neoclassical theory belongs mainly to the field called microeconomics. But it has a certain relationship with macroeconomics and game theory. In this book, prepared for economics students, in addition to the relationship of neoclassical theory with macroeconomics, recently developed issues such as asymmetric information, exchange costs, network relations, and the efficiency of financial markets are also discussed.

Although neoclassical economists are divided into two large groups, liberal and interventionist or social democrat, the common assumption they share is that society consists of free and equal individuals and that the instrument that most effectively harmonizes the activities of these individuals is the market. While Neoclassical Economic Theory provides an understanding of this dominant way of thinking, how it is designed, its internal logic and consistency, it also helps to see the limits of this theory and the important problems it contains.

(From the Promotional Bulletin)

Dough Type: 2nd Dough

Number of Pages: 373

Size: 13 x 19.5

First Print Year: 2017

Number of Printings: 1st Edition

Media Type: Paperback