About this product

Product Identifiers

PublisherAgenda

ISBN-101788210417

ISBN-139781788210416

eBay Product ID (ePID)9038493699

Product Key Features

Number of Pages176 Pages

LanguageEnglish

Publication NameGeneral Equilibrium

Publication Year2019

SubjectEconomics / General, Economics / Theory

TypeTextbook

Subject AreaBusiness & Economics

AuthorYves Balasko

FormatTrade Paperback

Dimensions

Item Weight23.5 Oz

Item Length9.2 in

Item Width6.2 in

Additional Product Features

Intended AudienceCollege Audience

LCCN2019-458730

Dewey Edition23

IllustratedYes

Dewey Decimal339.5

Table Of Content1. A historical perspective of general equilibrium theory2. Goods, prices and equilibrium3. A simple class of economies4. A more general theory of the consumer5. Existence and optimality of equilibrium6. The number of equilibria7. The simplest case: two goods, two consumers and fixed total resources8. Beyond the simple general equilibrium model

SynopsisWritten by one of the key pioneers in the field, this book offers an accessible introduction to general equilibrium theory. Written for undergraduates taking courses in economic theory and modelling who have limited mathematical proficiency, the book fills a gap between forbidding technical expositions and the less rigorous elementary ones., The theory of general equilibrium offers a simplified guide to how real economies function: describing how production, prices, demand and consumer preference interact in multiple markets and tend towards a state of equilibrium. The first attempt to model this interaction was made by Leon Walras in the late nineteenth century, but it remained a largely theoretical exercise until the advent of the computer age, when large amounts of data could be processed to model national economies on an unprecedented scale. Written by one of the key pioneers in the field, this book offers an accessible introduction to general equilibrium theory and some of its most important developments of the past fifty years, including the sunspot model, the overlapping generations model and the model with financial assets. Written for undergraduates taking courses in economic theory and modelling who have limited mathematical proficiency, the book fills a gap between forbidding technical expositions and the less rigorous elementary ones., The theory of general equilibrium offers a simplified guide to how real economies function: it describes how price, demand, supply and production interact in multiple markets and tend towards a state of equilibrium. The first attempt to model this interaction was made in the late nineteenth century, but it remained a largely theoretical exercise until the computer age, when large amounts of data could be processed to model national economies on an unprecedented scale. Yves Balasko, one of the key pioneers in the field, offers an accessible introduction to general equilibrium theory and some of its most important developments of the past fifty years. The book begins with an historical presentation of general equilibrium theory that includes the two theorems of welfare economics and also a new proof of the existence of an equilibrium. The central chapters examine the main results of the theory of general equilibrium that can be obtained by following the equilibrium manifold and natural projection approach. The final chapter demonstrates the potential for extending the general equilibrium model beyond the market economy by introducing uncertainty and contingent commodities. Written for students taking courses in economic theory and modelling who have relatively limited mathematical proficiency, the book fills a gap between forbidding technical expositions and the less rigorous elementary ones. As a masterly summation of developments in equilibrium theory by one of the subject's leading figures, it will also be welcomed by economists working across applied and computable general equilibrium analysis., Written by one of the key pioneers in the field, this book, suitable for undergraduate courses, offers an accessible introduction to general equilibrium theory and some of its most important developments of the past fifty years, including the sunspot model, the overlapping generations model and the model with financial assets

LC Classification NumberHB145.B325 2020