1. Introduction

This introductory chapter sets the stage for understanding microeconomics through a "post-Walrasian" lens. It emphasizes that learning economics is not simply (or even mostly) about transferring information; it is about skill building, more like learning a language than like filling up a jug with knowledge. The chapter highlights the evolution of microeconomic theory beyond traditional Walrasian models, incorporating advances such as the economics of limited and asymmetric information, strategic interaction and game theory, contract theory, behavioral economics, evolutionary dynamics, and mechanism design. It argues that this contemporary approach offers a more adequate framework for addressing pressing global challenges like unjust inequality and climate change.

The chapter also stresses the necessity of a dynamic, multi-disciplinary, and pluralist approach to microeconomics. It illustrates how real-world problems often involve complex interactions, positive feedbacks leading to a multiplicity of path-dependent equilibria, and conflicts over the distribution of mutual gains from exchange, including the exercise of power by private economic actors. This perspective challenges the limitations of purely mathematical problem-solving, acknowledging areas where precise formulations may not yet exist, and underscores that pluralism is not just an option but a necessity in the new benchmark model.