Aperçu des sections

  • Microeconomics 1B: Equilibria & Optimality

    • Enseignant : Antoine Mandel (Antoine.Mandel@univ-paris1.fr)
    • Année universitaire : 2018/2019 - Premier Semestre : du 5 Novembre au 12 Décembre 2018 - 18 heures de cours et 24 heures de TD
    • Cours en anglais
    • Class: Every Monday 14:00-15:30 (Course), 15:30-17:30 (TD), and every Wednesday 9:00-10:30 (Course), 13:00-15:00 (TD) - Centre d'Economie de la Sorbonne
    • Prerequisite: Microeconomics 1A, M1 MAEF, M1 IMMAEF, QEM1
    • FINAL EXAM (Examen Partiel) : December 12, 2018, from 13h00 to 15h00 - Room 117 - MSE

    General Presentation
    The course Microeconomics 1B deals with competitive equilibria and Pareto optimal allocations in pure exchange economies and in production economies.

    Course Content

    1. Pure exchange economies. Definition and properties of a competitive equilibrium. An example with two commodities-two consumers: the Edgeworth box. Differential characterization of competitive equilibria. Existence of competitive equilibria. Feasible allocations, Pareto optimal allocations. Existence of Pareto optimal allocations. Differential characterization of Pareto optimal allocations. Pareto optimality conditions in terms of marginal rates of substitution. First and second theorems of welfare economics.
    2. Production economies. Private ownership economies. Definition and properties of a competitive equilibrium. Differential characterization of competitive equilibria. Existence of competitive equilibria. Production economies, feasible allocations, Pareto optimal allocations. Existence of Pareto optimal allocations. Differential characterization of Pareto optimal allocations. Pareto optimality conditions in terms of marginal rates of substitution and marginal rates of transformation. First and second theorems of welfare economics.

    References

    • Mas-Colell, A., Whinston, M.D., Green, J., "Microeconomic Theory", Oxford University Press, 1995: Chapters 10 and 15-17.
    • Microeconomis 1B, Class Notes 2018: Chapters 1, 4, 5 and 6.
    • Mathematical Appendix for Economics, Class Notes 2018, pages 1-12.

    The Class Notes are available below.


  • Class Notes and Problem Sets