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
Content Pure exchange system The existence of Walrasian equilibrium The first theorem of welfare economics The second theorem of welfare economics Exchange with production
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