The school founded on marginal utility and the mathematical analysis of individual optimization and market equilibrium, developed independently in several national traditions in the late nineteenth century. Belongs here: Neoclassical Economics itself, the Lausanne School (Walras and Pareto's general-equilibrium tradition), and the Cambridge School (Marshall's partial-equilibrium price theory). Does not belong here: the later synthesis of neoclassical microeconomics with Keynesian macroeconomics, which groups under Keynesian, New Keynesian and Post-Keynesian Economics.
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1. Neoclassical economics (Wikipedia)
WikipediaNeoclassical economics, marginal revolution sectionQuote, Neoclassical economics, marginal revolution section
It is frequently dated from William Stanley Jevons's Theory of Political Economy (1871), Carl Menger's Principles of Economics (1871), and Leon Walras's Elements of Pure Economics (1874-1877).
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