Heterodox economics refers to methodologies or
schools of economic thought that are considered outside of "
mainstream economics", often represented by expositors as contrasting with or going beyond
neoclassical economics. "Heterodox economics" is an umbrella term used to cover various approaches, schools, or traditions. These include
socialist,
Marxian,
institutional,
evolutionary,
Georgist,
Austrian,
feminist,
social,
post-Keynesian (not to be confused with
New Keynesian), and
ecological economics among others. In the
JEL classification codes developed by the
Journal of Economic Literature, heterodox economics is in the second of the 19 primary categories at:
- - History of Economic Thought, Methodology, and Heterodox Approaches.