# General Equilibrium Theory: An Introduction

Cambridge University Press

Edition: 2, 4/25/2011

EAN 9780521826457, ISBN10: 0521826454

Hardcover, 380 pages, 25.3 x 21.5 x 2.2 cm

Language: English

General Equilibrium Theory: An Introduction presents the mathematical economic theory of price determination and resource allocation from elementary to advanced levels, suitable for advanced undergraduates and graduate students of economics. This ArrowÃ¢â‚¬â€œDebreu model (known for two of its most prominent founders, both Nobel Laureates) is the basis of modern price theory and of a wide range of applications. The new edition updates discussion throughout and expands the number and variety of exercises. It offers a revised and extended treatment of core convergence, including the case of non-convex preferences, and introduces the investigation of approximate equilibrium with U-shaped curves and non-convex preferences.

Part I. General Equilibrium Theory

Getting Acquainted

1. Concept and history of general equilibrium theory

2. An elementary general equilibrium model - the Robinson Crusoe economy

3. The Edgeworth box

4. Integrating production and multiple consumption decisions

a 2 x 2 x 2 model

5. Existence of general equilibrium in an economy with an excess demand function

Part II. Mathematics

6. Logic and set theory

7. RN

real N-dimensional Euclidean space

8. Convex sets, separation theorems, and non-convex sets in RN

9. The Brouwer fixed point theorem

Part III. An Economy with Bounded Production Technology, Supply and Demand Functions

10. Markets, prices, commodities, and mathematical economic theory

11. Production with bounded firm technology

12. Households

13. A market economy

14. General equilibrium of the market economy with an excess demand function

Part IV. An Economy with Unbounded Production Technology, Supply and Demand Functions

15. Theory of production

the unbounded technology case

16. Households

the unbounded technology case

17. A market economy

the unbounded technology case

18. General equilibrium of the market economy

the unbounded technology case

Part V. Welfare Economics and the Scope of Markets

19. Pareto efficiency and competitive equilibrium

20. Time and uncertainty

futures markets

Part VI. Bargaining and Equilibrium

The Core

21. The core of a market economy

22. Convergence of the core of a large economy

Part VII. An Economy with Supply and Demand Correspondences

23. Mathematics

analysis of point to set mappings

24. General equilibrium of the market economy with an excess demand correspondence

25. U-shaped cost curves and concentrated preferences

Part VIII. Standing on the Shoulders of Giants

26. Next steps

27. Summary and conclusion.