General Equilibrium

Discover the groundbreaking contributions of John R. Hicks, one of the 20th century's most influential economists, whose work in general equilibrium theory, macroeconomics, and welfare economics earned him the Nobel Prize.

Dive deep into the concept of a Walrasian market, exploring its mechanism, significance, and how it compares to other market models like the auction market. Understand the underlying principles and theories that shape this economic model and discover its practical applications in financial markets today.

Discover the principles of General Equilibrium Theory, how it contrasts with partial equilibrium, and its foundation laid by Leon Walras.