Ans.
(i) Origin of
Microeconomics can be traced back to era of classical economists. It is
relatively a traditional approach.
(ii) “The Father of
Economics” Mr. Adam Smith, in his well-known book “Wealth of Nations” used
microeconomics approach. Microeconomics approach is also found in the writings
of David Ricardo and J.S. Mill.
(iii) Dr. Alfred
Marshall, the neoclassical economist, is in fact considered as a real architect
of microeconomics. In his famous book “Principle of Economics” utilized marginalize
principle in most of the economics analysis.
(iv) Thereafter, many
economist like Mrs. Joan Robinson, J.R. Hicks, Prof. Samuelson, are also participated
in the development of microeconomics.
