In many - perhaps most - economic interactions, there is potential for strategic behaviour, a term, “intended to focus on the interdependence of the adversaries' decisions and on their expectations about each other's behaviour” (Schelling, 1960, The Strategy of Conflict). Recognising and understanding such behaviour is an essential part of any economist's toolkit and this course is designed to enable just such recognition and understanding. Game theory has successfully been applied in a diverse range of fields, such as economics, political science, law, biology and computer science. The aim of this course is to provide an introduction to strategic thinking and analysis through the basic techniques of game theory and to illustrate the range of its applications in economics and business and other areas. While the level of the course will be introductory, and mathematical prerequisites are minimal, the presentation of the material will rely on precise logical arguments.
Upon successful completion, students will have the knowledge and skills to:
- recognise the strategic issues in a problem and demonstrate basic understanding of how a game theorist might decide on the appropriate tools to analyse it.
- demonstrate an understanding of the tools taught in class and be able to recognise their application to the analysis of simple real world situations.
- demonstrate an understanding of the underlying structure of games used in economics.
- demonstrate an understanding of simpler articles using game theory.
- in class quizzes (15) [LO 1,2,3,4]
- Mid-Semester Exam (35) [LO 1,2,3,4]
- Final Exam (50) [LO 1,2,3,4]
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It is assumed that you are putting in a minimum of 10 hours of study per week; consisting of 3 hours of lectures, 1 hour of tutorials and 6 hours of individual study.
Requisite and Incompatibility
You will need to contact the Research School of Economics to request a permission code to enrol in this course.
see class summary
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Commonwealth Support (CSP) Students
If you have been offered a Commonwealth supported place, your fees are set by the Australian Government for each course. At ANU 1 EFTSL is 48 units (normally 8 x 6-unit courses). More information about your student contribution amount for each course at Fees.
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