The theory of games helps us to understand situations where many agents interact in a strategic setting, where each agent's wellbeing depends on the behaviour of all agents. Game theory is a collection of analytic techniques widely used in many sciences. It has provided powerful tools that have successfully been applied in almost every field of economics and in many other disciplines, as well as creative and rigorous ways of developing new ideas and applications. The course covers a range of topics in advanced game theory, including current research topics. It is the natural continuation of ECON2141/2142/8053 Strategic Thinking: An Introduction to Game Theory.
Upon successful completion, students will have the knowledge and skills to:
- Understand selected models and concepts of game theory
- Understand articles that use intermediate and applied game theory
- Produce simple economic models with basic game theory
- Think strategically in many situations
- 2 assessments/exams - 20% each (total 40%) (40) [LO null]
- Final exam - 60% (60) [LO null]
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WorkloadStudents taking this course are expected to commit at least 12 hours a week comprised of:3 hours of lectures and, 1 hour of tutorial, and 8 hours of private study. (Recommended and Optional) Study groups to be organized by students, if they wish.
This course requires attendance at classes due to the interactive nature of the course. To achieve the learning outcomes points are awarded for class participation and student presentations.
Requisite and Incompatibility
Refer to class summary
During the course, students are expected to be able to follow rigorous abstract arguments, as used in the construction and analysis of mathematical models in economics. Some prior knowledge of game theory is required, such as Nash equilibrium, subgame perfection and various game forms. Students who are interested in learning game theory, but have not taken either ECON8011 Microeconomic Theory A or an introductory game theory course, should instead enrol in ECON8053 Strategic Thinking: An Introduction to Game Theory or its equivalent.
Tuition fees are for the academic year indicated at the top of the page.
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- 6 units
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