Neoclassical economics

Neoclassical economics refers to a general approach (a "metatheory") to economics based on supply and demand which depends on individuals (or any economic agent) operating rationally, each seeking to maximize their individual utility or profit by making choices based on available information. Mainstream economics is largely neoclassical in its assumptions. There have been many critiques of neoclassical economics, both from within orthodox economics, and from outside of it, and often these critiques have been incorporated into new versions of neoclassical theory.

See also

• Aspects of Economics:
• Homo economicus
• Rational choice theory
• Slutsky conditions
• Utility

Other theories of economics and variations on neoclassical theory:

~ ~ ~ ~ ~ ~ ~ ~ ~ ~

• Keynesian economics
• Monetarism
• Behavioral economics
• Institutional economics
• Austrian School of economics
• Chicago school (economics)
• Bounded rationality and Behavioral finance