Competitive equilibrium Local analysis Complete compete market Monopoly

• Inter-temporal preferences – Two periods – Several periods • Asset market – CAPM – APT – Complete market – Pure arbitrage

– Some definition – Isoprofit curve – Demand function and it’s properties – supply function and it’s properties – Profit function and it’s properties

Preference and rationality The rule of choice Budget Demand function WA and demanded law

– Consumer’s surplus – Aggregation – Representation consumer

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

《高级微观经济学Advanced Microeconomics》PPT课件：Lecture 15 public goods and externality

《高级微观经济学Advanced Microeconomics》PPT课件：lecture1 production theory I

▪ Content: • Definitions • Properties of cost function • WACM • Some forms of cost functions

– Integrability – Aggregation across goods