Module Details

EC943-7-SP-CO: Game Theory And Applications

Year: 2016/17
Department: Economics
Essex credit: 20
ECTS credit: 10
Available to Study Abroad / Exchange Students: Yes
Full Year Module Available to Study Abroad / Exchange Students for a Single Term: No
Outside Option: No
Pre- or co-requisites: EC903

Staff
Supervisor: Dr Rossella Argenziano
Teaching Staff: Dr Rossella Argenziano
Contact details: For further information, send a message to rargenz@essex.ac.uk

Module is taught during the following terms
Autumn Spring Summer

Module Description

Game theoretic methodology is widely used in economics, and in some areas of the discipline provides the basic tool of analysis. This course seeks to familiarise students with the main game theoretic concepts applied in modern economics, and in particular the various so-called solution concepts - Nash equilibrium, subgame perfect equilibrium, Bayesian equilibrium and (weak) perfect Bayesian equilibrium. These concepts will be illustrated via a variety of economic models from areas such as industrial organisation, public goods, bargaining, and labor markets. By the end of the course, students should be able to formulate game-theoretic models of various socio-economic phenomena, and to analyse such models using appropriate techniques in order to gain understanding of the phenomena under study.

Key employability skills delivered by the module include time management, self management, reflection and evaluation.

The key academic skills delivered by the module are detailed in the Key Skills table.

Feedback for this module will occur through class meetings where we will go over the answers to problem sets and where you will be able to ask questions about your own method of solution; answers that will be posted on the website for the module that will give you written guidance on the appropriate method to approach the problems, assignments, and tests; and office hours where any additional questions can be addressed. You should be sure that you use these methods to understand how to improve your own performance.

Learning and Teaching Methods

One 2 hour lecture per week plus one 1 hour class per week.

Assessment

Whichever is the Greater: EITHER 50 per cent Coursework Mark, 50 per cent Exam Mark OR 100 per cent Exam Mark

Coursework

Mid-term test

Exam Duration and Period

2:00 during Summer Examination period.

Bibliography

  • Dutta, Strategies and Games: Theory and Practice, MIT Press, 1999
  • Gibbons, A Primer in Games Theory, Harvester Wheatsheaf, 1992.
  • Osborne, An Introduction to game Theory, Oxford University Press, 2003
  • Osborne and Rubinstein, A Course in Game Theory, MIT Press, 1994.
  • Mas-Colell, Whinston and Green, Microeconomic Theory, Oxford University Press,1995
  • Fudenberg & Tirole, Game Theory, MIT Press, 1991.
  • Kreps, Game Theory and Economic Modelling, 1990

Further information