profit maximization Content: Some definition Isoprofit curve Demand function and it's properties supply function and it's properties Profit function and it's properties

CONTENT Wa and demand law From preferences to utility Utility maximization EXpenditure minimization

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

Content The“core” Uniqueness of equilibrium Stability of equilibrium Welfare

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

8.1. Independent Firms The downstream firm's problem is max(a-bxc-wT The upstream firm's problem is max(a-2b)3-cr The output is 8.2. Integrated Firm Suppose now that the two firms merge into one firm. This firms problem is max(a-by)y

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

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

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

Cost Minimization Content: Definitions Properties of cost function WACM Some forms of cost functions lecture3 for Chu Kechen Honors College