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ECON20100

Academic Year 2022/2023

Game Theory (ECON20100)

Subject:
Economics
College:
Social Sciences & Law
School:
Economics
Level:
2 (Intermediate)
Credits:
5
Module Coordinator:
Dr Tiziana Brancaccio
Trimester:
Spring
Mode of Delivery:
On Campus
Internship Module:
No
How will I be graded?
Letter grades

Curricular information is subject to change.

Game theory is a formal way of thinking about and analysing strategic situations. This module will provide the tools that will enable you to use game theory to analyse a range of different problems.
Through the analysis of many examples in a variety of contexts you will
1. learn how to take into account strategic interactions when making your own choices;
1. learn how to predict other people or organizations' behaviour when they are in strategic settings;
3. learn how to apply these tools to settings from economics and other disciplines.

About this Module

Learning Outcomes:

On successful completion of this module, students should have:
1-An understanding of basic game theory concepts;
2-An ability to apply these tools to various real life and economic settings.

Indicative Module Content:

Week 1: Basic concepts of game theory
Weeks 1-2: Simultaneous move games with pure strategies
- Constructing payoffs matrices
- Identify equilibria (Best response analysis, Dominance)
- Particular classes of games (constant-sum games, prisoner’s dilemma games, coordination games)
Weeks 3-4: Sequential Games
- Definitions and game tree representation
- Solving games (sub-game perfect NE)
- From game tree to matrix payoff: NE vs SPNE
- Games with more than 2 players
- Order of moves: first/second mover advantage
- Stage games
Week 5-6: Simultaneous move games with mixed strategies
- Evolutionary game theory
Week 7: Strategic games
Week 8: Repeated games
Week 9: Static Bayesian Games
Week 10: Dynamic Bayesian Games
Weeks 11 - 12 Adverse selection, Signalling and Screening

Student Effort Hours:
Student Effort Type Hours
Lectures

22
Tutorial

11
Autonomous Student Learning

80
Total

113

Approaches to Teaching and Learning:
The module comprises lectures and tutorials.
Students will be given regular problem sets to facilitate self-assessment and group work. Detailed solutions will be provided to all problem sheets, and tutor will go over them during the tutorials.
Some of the tutorials will be used to conduct class experiments to facilitate a deeper understanding of how decisions are made in strategic situations.

Requirements, Exclusions and Recommendations
Learning Recommendations:

Students are recommended to have some knowledge of basic Principles of Microeconomics.


Module Requisites and Incompatibles
Equivalents:
Game Theory (ECON27100)


 

Assessment Strategy
Description Timing Open Book Exam Component Scale Must Pass Component % of Final Grade In Module Component Repeat Offered
Class Test: MCQ Week 8 n/a Alternative linear conversion grade scale 40% No
30
 No
Examination: End of Semester Exam 2 hour End of Trimester Exam No Alternative linear conversion grade scale 40% No
70
 No

Carry forward of passed components
No
 

Resit In Terminal Exam
Autumn No
Please see Student Jargon Buster for more information about remediation types and timing. 

Feedback Strategy/Strategies

• Group/class feedback, post-assessment
• Online automated feedback
• Self-assessment activities

How will my Feedback be Delivered?

1. Regular problem sets will be assigned throughout the semester for self-assessment; solutions will be posted on Brightspace and will be explained in detail during tutorials. 2. Solutions to midterm examination will be posted on Brightspace within 20 working days from the date of the midterm, and those students who wish to go over their midterm will be given an appointment for individual feedback.

Core textbooks:
A. Dixit, S. Skeath, & D. Reiley. Games of Strategy, Norton
F. Carmichael, A Guide to Game Theory, Prentice Hall

Other suggested readings:
J. Watson, Strategy: An Introduction to Game Theory, Norton
R. Gibbons, A primer in Game Theory, 1992, Prentice Hall
I. Pastine, Introducing Game Theory: A Graphic Guide, Icon Books
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