John Fredy Guevara Rincn - 63111130

Microeconomics II List number 10

A HETERODOX TEACHING OF
NEOCLASSICAL MICROECONOMIC
THEORY
I.

Presentation of the author

Frederic S. Lee was a Professor of Economics at the University of Missouri,
Kansas city. He was always involved in both neoclassical and heterodox
microeconomics at the undergraduate and graduate level for over 30 years
in the USA and England until the day of his death in 2015. He was always
looking for new methods and programs to teach neoclassical
microeconomic theory in a heterodox way, so graduate students could easily
learn the concepts and adapt them to their knowledge and environment. He
also published many articles regarding heterodox microeconomics, history
of heterodox economics, ranking of journals and departments and the
impact of heterodox economics as well as numerous heterodox journals.

II.

Summary
The article provides students with a different way to teach neoclassical
microeconomic theory in heterodox programs so they can get a critical and
technical understanding of neoclassical theory. This helps by giving a new
methodology that is supposed to be considered more solid with every
concept (supply and demand of markets, general equilibrium and others). It
also states that the regular theory could be wrong, and it is not bad to teach
wrong theories because they help to understand the right theories.
Hence it is important to open our minds and make them capable of
understanding the right and the wrong and the reasons for that to be. It
suggests professors have both mainstream and heterodox manners. This is
accomplished by teaching microeconomic theory as a critical historical story.
This allows an understanding of the key concepts and presupposes that
there is a significant degree of historical-theoretical continuity. The article
shows an evolution story of how it should be taught, including models, tools,

John Fredy Guevara Rincn - 63111130

Microeconomics II List number 10

and discourse of microeconomic theory that has always been with us since
history.