Alfred Marshall

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Marshall was born July 26, 1842, in London's Bermondsey. He studied

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.
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In 1868 Marshall began to lecture on the topic 'Science of

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.
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Alfred and Mary Paley were married in 1877. He became the

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.
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The main contribution of Marshall to economic science is connecting the

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.
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A. Marshall has used many of the concepts predecessors (the theory

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.
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Marshall formulated the "law of demand". "The quantity of goods, which

Marshall formulated the "law of demand".
"The quantity of goods, which

is demand increases at lower prices and decreases at higher prices".
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A. Marshall studied the proposal, calculating with the help of graph

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".
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Marshall set the task to find out how the flexibility (mobility

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.
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Due to deteriorating health problems Alfred left the University in 1908.

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.
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Currently, members of society are both teachers and students Cambridge. The

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)