Contents

I - INTRODUCTION

II - __TECHNICAL ASPECTS OF PRODUCTION__

(1) **The Production Function**

(A) The
Production Function

(B) Marginal
Productivity

(i) The Law of Diminishing Returns

(ii) The Law of Variable Proportions

(C) Isoquant Analysis

(2) **Returns to Scale**

(A)
Understanding Returns to Scale

(B) Euler's Theorem

(C) Homogeneity
and Homotheticity

(D) The
Intensive Production Function

(3) **Technology and Substitution**

(A) Leontief
(Fixed Proportions) Technology.

(B) Activity
Analysis Technology

(C) Putty-Clay
Technology

(4) **The Elasticity of Substitution**

(A) Measuring
Substitutability

(B) Elasticity of
Substitution under Constant Returns to Scale

(C) Cobb-Douglas
Production Functions

(D) Constant
Elasticity of Substitution (CES) Production Functions

(E) Elasticities of
Substitution in Multi-Input Cases

III - __THE PRODUCTION DECISION__

(1) **The Production Decision: A First Approach**

(A) The
Paretian Producer

(B) Cost-Minimization

(C) Output-Maximization
and Duality

(D)
Profit-Maximization and Indeterminacy

(2) **The Cost Function**

(A) The Cost Function

(B) The Derived
Demand for Factors

(i) Factor Price Effects

(ii) Output Effects

(C) Costs and
Returns to Scale

(D) Factor Price
Frontiers

(3) **The Profit Function**

(A) Profit-Maximization

(B) The Profit
Function

(C) Output Supply
and Factor Demand Functions

(i) Basic Relationships

(ii) Decomposing Factor Demand

IV - __PRODUCTION IN EQUILIBRIUM__

(1)** Production in General Equilibrium Theory**

(A) The
Walras-Cassel System

(B) The
Paretian System I: Equilibrium

(C) The
Neo-Walrasian Theory of Production

(D) Equilibrium under Uncertainty: Production
and Finance

(2) **The Neoclassical Theory of
Distribution**

** **(A) Factor Payments and the Concept of Rent

(B) The
Marginal Productivity Theory of Distribution

(i) The Product Exhaustion Theorem

(ii) Early Debates on Marginal Productivity

(C) Substitution and Distribution

(3) **The Opportunity Cost Doctrine**

(A) Opportunity
Cost

(B) The
Austrian-Marshallian Debate

(4) **Theory of Capital and
Investment**

(A) The Neoclassical Theory of Capital

(B) The
Austrian Theory of Capital

(C) The Walrasian Theory of Capital

(D) The Theory
of Investment

(5) **Technical Progress**

(6)** Profits and Entrepreneurship**

V - __THE THEORY OF THE FIRM__

(1) **The Marshallian Firm**

(2) **Sraffa's Critique**

(3) **The Maximization Debates**

(A) The Old Marginalism
Debate

(B) The New
Institutionalist Theories

(C) The
Evolutionary Theory of the Firm

VI -__ IMPERFECT COMPETITION__

(1) **Monopoly**

(2)** Imperfect Competition**

(3)** Monopolistic Competition
**

(4)