This book gives the historical development, explanations of technical specifications, and a basic understanding of how to use different equilibrium models in an applied framework. It contains an accessible analytical survey of economic equilibrium models, including multi-sector programming...

A good basic understanding of general equilibrium theory is a fundamental and indispensable background for advanced work in virtually any sub-field of economics; and a thorough understanding of the methods of welfare economics, particularly in a general equilibrium context, is indispensable for...