The Need for a Price Theory Revival.

Is the time right for a price-theory revival? Recent prospects are encouraging, but there are significant challenges. We provide an overview of price-theoretic microeconomics, drawing on lessons from the Chicago, UCLA, and London-Vienna traditions. We also discuss contemporary scholarship about the place of price theory in economics education. Finally, we consider how to raise the relative status of price theory within the academy, which we view as a necessary but not sufficient condition for revitalizing price theory. [ABSTRACT FROM AUTHOR]