General Equilibrium Analysis:
General equilibrium analysis is a theoretical framework used in economics to study the interrelationships between various economic variables in an economy. It examines how changes in one market can impact other markets in the economy.

The Contract Curve:
The contract curve in economics represents the set of efficient allocations of goods between two individuals that maximize their collective utility. It shows all the points at which both individuals are better off compared to their initial endowment of goods.

Walras' Theory:
Walras' theory, also known as the Walrasian general equilibrium theory, was developed by the economist Léon Walras. It proposes that in a competitive market economy, there exists a set of prices at which supply equals demand for all goods and services. This equilibrium is achieved when all markets clear simultaneously.

Explanation:
In Walras' theory, the equilibrium prices are determined through a process of tatonnement, where prices are adjusted until equilibrium is reached. The theory assumes perfect competition, rationality of economic agents, and perfect information.
The contract curve is relevant in general equilibrium analysis as it helps in understanding the possibilities for mutually beneficial trade between individuals. It provides a visual representation of the efficient allocations of goods that can be achieved through voluntary exchange.
By analyzing the contract curve and applying Walras' theory, economists can study how resources are allocated in an economy, the impact of policy changes, and the efficiency of market outcomes. This analysis is crucial for understanding the functioning of markets and making informed policy decisions.