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Game Theory - ECON0027

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Term 1

Aims:
To provide students with an intellectual framework to analyse situations in which the behaviour of agents is driven by strategic considerations and, with a set of analytical tools, to interpret a wide range of phenomena in the social sciences.

Objectives:

At the end of the module students should:

  • Be able to use the concept of Nash equilibrium in simple oligopolistic games, and voting games
  • Understand the concept of Subgame Perfect Equilibrium and apply it to games of lobbying and bargaining
  • Understand the logic of Bayesian games and use them to analyse real-world selling mechanisms such as auctions
Taught by:Nikita Roketskiy / Moodle page: ECON0027 Syllabus: Game Theory

Assessment:


Affiliate Assessment:

20 hours of lectures, 4 practical sessions and 4 compulsory tutorial classes. Problem sets will be given out regularly and students must submit written solutions. The problems will then be discussed in the tutorial classes and the practical lectures.  Assessment is a 2-hour unseen written examination in Term 3. 

Affiliate students leaving in December will take a 2-hour written examination set up by the Department in the last week of Term 1. Affiliate students leaving in June will take the 2-hour written examination in Term 3.

Suitable for:Final year students with a good mathematical background.
Prerequisites:Although there are no formal prerequisites and the mathematical tools are limited, nevertheless the module requires students to possess a strong ability in logical reasoning.
Maximum module enrolments:175
Module Evaluation (Previous year):ECON0027
Assumed knowledge:Students coming into the course should have a good command of calculus and probability theory. They should be able to take derivatives and integrals and calculate maxima of functions. Also, they should understand the concept of probabilities, random events and variables and be able to use Bayesian updating. Basic knowledge of microeconomics is not necessary, but could be beneficial.