This article presents the problem of the economic theory course updating in terms of its correspondence to the conditions of transformational economics and the possibility of synthesis of various branches of science. Analyzing the state of the emerging Russian market, the author shows the inability of the standard course of the economy, the main content of which is a neo-classical concept, to explain the relevant processes. The article demonstrates feasibility of expediency of treatment to the institutional concept, in particular, the theory of power, for the analysis of the main market elements: supply, demand and price. As the fundamental basis for the analysis of market relations compatibility in various areas of economic science, the author considers the community of an object of research - economic activity of the economic entity. If the analysis of the market relations is the main for neo-classical concept, then the categories of institutionalism, from the point of the author’s view, can operationalize the system of industrial relations, presenting them more directly and specifically, thereby extending the range of the analyzed problems. The role of political economy, considering the relations of production as multilayer formation, is to create a methodology for the study of market relationships. The author describes a number of specific provisions of the economic theory course, in relation to which the possibility of representations of the different branches of science compatibility is quite obvious.