Content Public goods Subscription Efficient provision of public goods Public choice EXternality What's externality? How to solute it? What's the efficient condition with externality
Content Pure exchange system The existence of Walrasian equilibrium The first theorem of welfare economics The second theorem of welfare economics Exchange with production
Duality Given the technology we can obtain the cost function are the cost function contains the same information of the technology (production function)? If the answer is yes, then the cost minimization behavior will indicate the technology of the firm
profit maximization Contain: Some definition -Isoprofit curve -Demand function and it's properties supply function and it's properties -Profit function and it's properties lecture 2 for Chu Kechen Honors College
Summary textbook: Varian, Hal R., 1992, Microeconomics Analysis, 3rd ed. Mas-Colell, A., M. Whinston, and J. Green, 1995, Microeconomics Theory. assignments: twice a week; Team work; Deliver on the class
Content Public goods Subscription -Efficient provision of public goods Public choice · Externality -What' s externality? - How to solute it? -What' s the efficient condition with externality