Alfred Marshall

1.

Alfred Marshall— English economist, the founder of the neoclassical
direction in economic science, is the Cambridge school of Economics.

2.

Marshall was born July 26, 1842, in London's
Bermondsey. He studied at Eton and Cambridge
University, from which he graduated in 1865;
taught math at Cambridge, of political economy
in University College, Bristol, from 1885 to 1908
he headed the Department of political economy
in their home University.

3.

In 1868 Marshall began to lecture on the topic
'Science of morality'. In 1885, he became
Professor of political economy at Cambridge,
where he remained until his retirement in
1908.

4.

Alfred and Mary Paley were married in 1877.
He became the first Director of Bristol
College, later the University of Bristol, again
lecturing on political economy and economic
theory.

5.

The main contribution of Marshall to
economic science is connecting the classical
theory and marginalism. A. Marshall is known
primarily as the author of the theory of
market pricing.

6.

A. Marshall has used many of the concepts
predecessors (the theory of utility, demand
and supply, production costs). Based on the
ideas of his predecessors, Marshall developed
the mechanism of formation of prices.

7.

Marshall formulated the "law of demand".
"The quantity of goods, which is demand
increases at lower prices and decreases at
higher prices".

8.

A. Marshall studied the proposal, calculating
with the help of graph the supply curve. The
higher the price, the greater the offer. This
"law of supply".

9.

Marshall set the task to find out how the
flexibility (mobility of demand and supply
elasticity).
Marshall distinguishes between elasticity of
demand on price and income.

10.

Due to deteriorating health problems Alfred
left the University in 1908. In 1927 the staff of
the University of Cambridge to study the
works of A. Marshall had created Mesalliance
society. Among the first members of the
society was a famous British economists:
John. M. Keynes, N. Kaldor, John. Robinson.

11.

Currently, members of society are both
teachers and students Cambridge. The
company annually conducts a number of
activities, including lectures, meetings with
foreign experts, as well as the annual charity
dinner (Marshall Society Charity Dinner)

12. Thank you for your attention!