Exchange Economies (revisited) No production, only endowments,so no description of how resources are converted to consumables. General equilibrium: all markets clear simultaneously. 1st and 2nd Fundamental Theorems of Welfare Economics
Properties of Demand Functions Comparative statics analysis(比较 静态分析) of ordinary demand functions the study of how ordinary demands *(p,P2,y) and x2*(p1,P2,y) change as prices p1, P2 and income y change