In this episode I describe the first and the second fundamental theorems of welfare economics. I also discuss when Walrasian equilibrium always exists and work on two numerical examples where Walrasian equilibrium fails to exist.
It's crucial to watch lecture videos in the proper order to ensure effective learning. This is because the concepts in each video build upon those introduced in previous videos. To help you with this, I recommend visiting my website, www.selcukozyurt.com, for a recommended course outline.
