Neoclassical Economics

GPTKB entity

Statements (50)
Predicate Object
gptkbp:instanceOf School of economic thought
gptkbp:appliesTo gptkb:legislation
gptkb:public_policy
gptkb:strategy
market analysis
welfare analysis
gptkbp:assumes perfect information
diminishing marginal returns
diminishing marginal utility
competitive markets
gptkbp:contrastsWith gptkb:Institutional_Economics
gptkb:Keynesian_Economics
Marxian Economics
gptkbp:criticizedFor static analysis
ignoring market imperfections
lack of attention to institutions
overemphasis on rationality
gptkbp:developedBy gptkb:William_Stanley_Jevons
gptkb:Carl_Menger
gptkb:Léon_Walras
gptkbp:emphasizes utility maximization
equilibrium
marginalism
profit maximization
rationality of economic agents
gptkbp:focusesOn determination of goods, outputs, and income distributions in markets
gptkbp:hasConcept supply and demand
marginal utility
general equilibrium
marginal cost
production theory
consumer choice theory
gptkbp:hasSubfield Behavioral Economics (as a critique/extension)
Environmental Economics (as an application)
https://www.w3.org/2000/01/rdf-schema#label Neoclassical Economics
gptkbp:influenced gptkb:Game_theory
gptkb:Microeconomics
gptkb:Modern_mainstream_economics
Welfare economics
gptkbp:influencedBy gptkb:Classical_Economics
gptkbp:originatedIn late 19th century
gptkbp:publishedIn academic journals
gptkbp:relatedTo gptkb:Austrian_School_of_Economics
gptkb:Chicago_School_of_Economics
gptkb:New_Classical_Economics
gptkb:New_Keynesian_Economics
gptkbp:studiedIn economics curricula worldwide
gptkbp:uses mathematical modeling
gptkbp:bfsParent gptkb:Human_Capital_Model
gptkbp:bfsLayer 7