To maximize the number of planet detections, current microlensing follow-up observations are focusing on high-magnification events which have a higher chance of being perturbed by central caustics. In this paper, we investigate the properties of central caustics and the perturbations induced by them. We derive analytic expressions of the location, size, and shape of the central caustic as a function of the star-planet separation, $s$, and the planet/star mass ratio, $q$, under the planetary perturbative approximation and compare the results with those based on numerical computations. While it has been known that the size of the planetary caustic is \propto \sqrt{q}, we find from this work that the dependence of the size of the central caustic on $q$ is linear, i.e., \propto q, implying that the central caustic shrinks much more rapidly with the decrease of $q$ compared to the planetary caustic. The central-caustic size depends also on the star-planet separation. If the size of the caustic is defined as the separation between the two cusps on the star-planet axis (horizontal width), we find that the dependence of the central-caustic size on the separation is \propto (s+1/s). While the size of the central caustic depends both on $s$ and q, its shape defined as the vertical/horizontal width ratio, R_c, is solely dependent on the planetary separation and we derive an analytic relation between R_c and s. Due to the smaller size of the central caustic combined with much more rapid decrease of its size with the decrease of q, the effect of finite source size on the perturbation induced by the central caustic is much more severe than the effect on the perturbation induced by the planetary caustic. Abridged.Comment: 5 pages, 4 figures, ApJ accepte

Various methods have been proposed to search for extrasolar planets. Compared to the other methods, microlensing has unique applicabilities to the detections of Earth-mass and free-floating planets. However, the microlensing method is seriously flawed by the fact that the masses of the detected planets cannot be uniquely determined. Recently, Gould, Gaudi, & Han introduced an observational setup that enables one to resolve the mass degeneracy of the Earth-mass planets. The setup requires a modest adjustment to the orbit of an already proposed microlensing planet-finder satellite combined with ground-based observations. In this paper, we show that a similar observational setup can also be used for the mass determinations of free-floating planets with masses ranging from ∼ 0.1 M J to several Jupiter masses. If the proposed observational setup is realized, the future lensing surveys will play important roles in the studies of Earth-mass and free-floating planets, which are the populations of planets that have not been previously probed.

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