These are the slides for my PhD micro course, formerly known as General Equilibrium.

The exams with solutions are available here.

- Nontransferable Utility
- Stability and the Gale-Shapley Deferred Acceptance Algorithm

- Transferable Utility
- Becker’s Conditions for Assortative Matching
- Monge-Kantorovich Transportation Problem and Shapley-Shubik Assignment Problem
- Double Auctions

**B. Partial Equilibrium**

- Partial Equilibrium: Market Supply and Market Demand Curves
- Market Power: Monopoly, Monopsony, Cournot Duopoly
- Externalities; Pigouvian Taxes, Coase Theorem and Missing Markets
- Public Goods and Samuelson’s efficiency condition
- Price and Quantity Constraints

**C. General Equilibrium**

- … in an Exchange Economy
- Edgeworth box analysis: Welfare theorems, market power
- Tatonnement stability; Samuelson’s Correspondence Principle
- Uniqueness via strategic complements

- With production: The Arrow – Debreu Existence Theorem
- Dynamic Stochastic General Equilibrium:
- Contingent commodities, Spot markets, forward contracts and option
- Risk Sharing: Idiosyncratic vs. Aggregate Risk
- The Informational Content of Prices: Rational Expectations Equilibrium

**D.** **Spatial Competition: Markets for Similar Goods**

- Hotelling Location Model
- Chamberlin’s Monopolistic competition
- Rosen’s Hedonic Pricing

- Probabilities as Prices (College Rejection Rates, Lotteries)
- Hassle as a Price (the COVID Testing Market)