Specifics of methodology in the classical and neoclassical of economic theory

The classical direction of economic theory is the direction of economic thought, within which the emergence and development of a market system was first scientifically studied. It developed a coherent system of economic categories and laws based on the principle of non-intervention of the state in the market economy and support for competition. This direction is considered revolutionary, since its results are relevant at the present time. The neoclassical direction explores the behavior of the co-called economic man, who seeks to maximize income and minimize costs. The main categories of analysis are limiting values. Representatives of the neoclassical direction developed the theory of unit productivity, equilibrium theory, economic theory of welfare, theory of rational expectations and others.