Provide a detailed examination of general equilibrium theory, starting with Walras's original formulation and Arrow-Debreu's rigorous formalization. Explain the concepts of commodity space, price vectors, and excess demand functions. Discuss the existence, uniqueness, and stability of general equilibrium. Explore welfare economics theorems and their relationship to general equilibrium theory. Analyze the assumptions required for general equilibrium results, including perfect competition, complete markets, and rational expectations. Discuss limitations of the model and various extensions including incomplete markets, imperfect competition, and the incorporation of money. Consider the relevance of general equilibrium theory for understanding real-world economies and policy applications.