Content Lotteries and expected utility Risk aversion Metric Subjective probability theory

Aggregation and Welfare Content Consumer's surplus Aggregation Representation consumer

Cost Minimization Content Definitions Properties of cost function WACM Some forms of cost functions

Preference and Choice Content: Preference and rationality The rule of choice Budget Demand function WAand demanded law

Summary textbook Varian, Hal R, 1992, Microeconomics Analysis, 3rd ed Mas-Colella m Whinston and j, green 1995, microeconomics Theory assignments

Content Competitive equilibrium Local analysis Omplete compete market Monopoly

Contents Inter-temporal preferences Two periods Several periods · Asset market CAPM -APT Complete market Pure arbitrage

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