Alfred Marshall

1
Alfred Marshall

• Gina Simmonds
• Economics
• Berkhout

2
Alfred Marshall

• Born in 1842 in Clapham, England
• Demonstrated mathematical skills from an early
  age
• Attended Cambridge University

3
Alfred Marshall, cont.

• Became a professor in 1868
• Married in 1877
• First work published in 1879
• Publishes Principles of Economics in 1881

4
Alfred Marshall, cont.

• Health problems worsened through the 1880s
  onward
• WWI prompted publishing of Industry and Trade
  Principles, 1919
• Died July 13th, 1924

5
Published Works

• The Pure Theory of Foreign Trade The Pure Theory
  of Domestic Values
• Principles of Economics
• Economics of Industry
• Industry and Trade Principles
• Money, Credit, and Commerce

6
Principles of Economics

• "Knowledge is our most powerful engine of
  production."
• Supply and Demand

7
MarshallsConcepts
8
Surplus Concept

• Consumer Surplus

9
Surplus Concept

• Producer Surplus

10
The Three Periods

• Market Period
• Short Period
• Long Period

11
Influence Legacy

• Scissors blades theory
• The father and grandfather of economics
• Price Elasticity of Demand
• Profession of Economist

12
Bibliography

• Henderson, David R. Biography of Alfred Marshall.
  2002. The Library of Economics and Liberty.
  http//www.econlib.org/library/Enc/bios/Marshall.h
  tml
• Hoffman, William. The Knowledge Economy Comes
  Knocking. 1 February, 1999. The Doric Column.
  http//mbbnet.umn.edu/doric/economy.html
• Bized.co.uk. Consumer and Producer Surplus
  Measures of Welfare. 2007. http//www.bized.co.uk/
  virtual/dc/trade/theory/th16.htm
• Wikipedia.com. Alfred Marshall. 11 January, 2007.
  http//en.wikipedia.org/wiki/Alfred_Marshall