Alfred Marshall Simmonds

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Alfred MarshallGina Simmonds Economics Berkhout

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

Alfred Marshall, cont. Became a professor in 1868 Married in 1877 First work published in 1879 Publishes Principles of Economics in 1881

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

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

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

Marshalls Concepts

Surplus Concept

Consumer Surplus

Surplus ConceptProducer Surplus

The Three PeriodsMarket Period Short Period Long Period

Influence & Legacy Scissors blades theory The father and grandfather of economics Price Elasticity of Demand Profession of Economist

Bibliography Henderson, David R. Biography of Alfred Marshall. 2002. The Library of Economics and Liberty. http://www.econlib.org/library/Enc/bios/Marshall.html 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