Microeconomic Theory: A Heterodox Approach by Frederic S. LeeMicroeconomic Theory: A Heterodox Approach by Frederic S. Lee

Microeconomic Theory: A Heterodox Approach

byFrederic S. LeeEditorTae-hee Jo

Hardcover | November 22, 2017

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Microeconomic Theory: A Heterodox Approachdevelops a heterodox economic theory that explains the economy as the social provisioning process at the micro level. Heterodox microeconomics explores the economy with a focus on its constituent parts and their reproduction and recurrence, their integration qua interdependency by non-market and market arrangements and institutions, and how the system works as a whole.

This book deals with three theoretical concerns. Due to the significance of the price mechanism to mainstream economics, a theoretical concern of the book is the business enterprise, markets, demand, and pricing. Also, since heterodox economists see private investment, consumption and government expenditures as the principal directors and drivers of economic activity, a second theoretical concern is business decision-making processes regarding investment and production, government expenditure decisions, the financing of investment, the profit mark-up and the wage rate, and taxes. Finally, the third theoretical concern of the book is the delineation of a non-equilibrium disaggregated price-output model of the social provisioning process.

This book explores the integration of these various theories with a theoretical model of the economy and how this forms a theory that can be identified as heterodox microeconomics. It will be of interest to both postgraduates and researchers.

Frederic S. Leewas Professor of Economics at the University of Missouri-Kansas City, USA until he died in 2014. He played an essential role in developing heterodox microeconomic theory and in building a global community of heterodox economists over his thirty-year professional career. He was the founding editor ofHeterodox Economics Ne...
Title:Microeconomic Theory: A Heterodox ApproachFormat:HardcoverDimensions:300 pages, 9.21 × 6.14 × 0.98 inPublished:November 22, 2017Publisher:Taylor and FrancisLanguage:English

The following ISBNs are associated with this title:

ISBN - 10:0415247314

ISBN - 13:9780415247313


Table of Contents

List of figures, List of tables, Preface, Notations and abbreviations, Chapter 1 The making of heterodox microeconomics, Chapter 2 Structure, agency, and modeling the economy, Chapter 3 The business enterprise: structures, Chapter 4 The business enterprise: agency and causal mechanisms, Chapter 5 Markets and demand for the social product, Chapter 6 Competition, the market price, and market governance, Chapter 7 Microeconomics and the social provisioning process, Chapter 8 The role of microeconomics in heterodox economics: a view of a heterodox micro theorist,Appendix 1Heterodox Microeconomics Course Syllabus,Appendix 2Narrative-Qualitative-Analytical Problem Sets,Bibliography, Index