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General equilibrium theory is one of the major research pro- grams in modern economics. It aims to describe and understand the functioning and properties of market economies. Develop- ments of and reactions to this program constitute a major part of economics. In order to achieve its ends， general equilibrium theory focuses on four broad questions. First， under what conditions do equilibrium states exist? Second， under what conditions are equilibrium states optimal? Third， are equilibrium states relatively small in number， stable relative to adjustment processes and do they behave predictably in the face of shocks to the economy? Fourth， are equilibrium states congruent with nactual economic data?