Question

In: Economics

3. Write short notes on : Historical review of Micro-Economics

1.     Write short notes on :

Historical review of Micro Economics

Solutions

Expert Solution

History of microeconomics can be traced to classical economists. Adam Smith is regarded as the Father of Microeconomics. In his book ‘The Wealth of Nations’, published in the year 1776, he discussed how the prices of goods and the factors of production are determined. However, microeconomic analysis was done by Dr. Alfred Marshall, a neo-classical economist. He was the first person to use the principle of marginalism. Some of the other popular economists who have contributed to the development of microeconomics are Prof. Pigou, J. R. Hicks, Prof. Samuelson, Mrs. Joan Robinson and Chamberlin.


Adam Smith is known as the father of economics.

Related Solutions

Features of Micro-Economics
Describe all the features related to the micro econmics.
Q1. Write notes on electric field. Q2. Write short notes electric field.
Q1. Write notes on electric field. Q2.  Write short notes electric field.
Write short notes (aided by diagrams) on the following:
Write short notes (aided by diagrams) on the following: i) The effect of hybridization on bond lengths ii) Naphthalene as an environmental pollutant iii) The stability of the benzene ring
Write short notes on ASTM & TBP distillation?
Write short notes on ASTM & TBP distillation?
Subject matter of Micro Economics
Describe all the elements included in the micro economics.
Write short notes on the following 1) Any three (3) elements of economic growth in rural...
Write short notes on the following 1) Any three (3) elements of economic growth in rural areas
Write short notes on WTO and Trade Barriers.(10mks)
Write short notes on WTO and Trade Barriers.(10mks)
Write an overview of the Return on Investment topic and a review of its historical roots
Write an overview of the Return on Investment topic and a review of its historical roots
Write a long essay about the role of macro- and micro-economics in managerial decision-making?
Write a long essay about the role of macro- and micro-economics in managerial decision-making?
1. Write notes on interference of waves. 2. First Law of Thermodynamics-Explain. 3. Write notes on...
1. Write notes on interference of waves. 2. First Law of Thermodynamics-Explain. 3. Write notes on molar specific heat at constant pressure and constant volume. 4. Write short notes on (i) ideal engine and (ii) Carnot engine.
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT