General Equilibrium Models

See semester study programme.

Introduction to the general equilibrium theory and its applications in economics. We will formally define and analyze equilibria both in the finite and infinite, static and dynamic as well as deterministic and stochastic economies. We will also discuss some game theoretical foundations of the general equilibrium

Literatura podstawowa:

A.Mas-Collel, M.D.Whinston, J.R. Green, Microeconomic theory, Oxford University Press, Oxford 1995.

Literatura uzupełniająca:

1. Bewley, T. F.(2007): General Equilibrium, Overlapping Generations Models, and Optimal Growth Theory. Harvard University Press. 2. Ellickson, B. (1993): Competitive Equilibrium: Theory and Application. Cambridge University Press. 3. McKenzie, L. W. (2002): Classical General Equilibrium Theory. The MIT Press.

Wiedza:

Student knows classic general equilibrium models, their assumptions, implications, and limitations.

Student understands the difference between partial and general equilibrium modelling.

Student acquires knowledge of the formal tools necessary to study general equilibrium modelling.

Umiejętności:

Student can read and understand current reserach papers in general equilibrium models.

Student is able to select appropriate tools to analyse various general equilibrium problems.

Student is able to differentiate various concepts of equilibrium and efficiency.

Kompetencje społeczne:

Student recognizes, where using gerenal equilibrium models in necessary.

Studens sees the general equilibrium implications in current discussions on the world economy.

egzamin tradycyjny-pisemny: 60.00%

ocena z ćwiczeń: 40.00%