The Theory of General Equilibrium
Jean-Marc Bonnisseau & Elena L. del Mercato
Masters M2 APE & MMMEF
Course in English - First Semester 2016/2017
The general economic equilibrium theory studies the interactions among heterogeneous agents on commodity and financial markets. The course focuses on the classical Arrow-Debreu model and the main properties of a competitive equilibrium (existence, efficiency, local uniqueness, structure of the equilibrium set). The course is a necessary step to handle advanced questions arising from financial markets and markets imperfections, such as externalities, imperfect competition or increasing returns to scale.
Key words: equilibrium, competition, optimality, existence, sensitivity.
Class: Every Friday, 9:00 - 12:00 - Room A2 - Rez de chaussée BATIMENT A - PSE Campus Jourdan, 48 Boulevard Jourdan, 75014 Paris
Evaluation: Homeworks and Final Exam.