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.
Learning Outcomes
Upon successful completion, students will have the knowledge and skills to:
- demonstrate understanding of the tools taught in class and be able to recognise their application to the analysis of real world fact situations.
- demonstrate an understanding of the strategic issues in a problem and understand how a game theorist might decide on the appropriate tools to analyse it.
- demonstrate understanding of articles using game theory.
- demonstrate understanding of the underlying structure of simple games used in economics.
Research-Led Teaching
The course intends to give students skills to model research questions in economics using the mathematical tool of game theory.
Field Trips
N. A.
Additional Course Costs
N. A.
Examination Material or equipment
Open book exam; non-programmable calculators are allowed.
Required Resources
M. Maschler, E. Solan and S. Zamir, Game Theory (full text available online through anulib.anu.edu.au).
G. Mailath and L. Samuelson, Repeated Games and Reputation: Long-Run Relationships (full text available online through anulib.anu.edu.au).
Recommended Resources
D Fudenberg and J Tirole, Game Theory
R Gibbons, Game Theory for Applied Economists
Staff Feedback
Students will be given feedback in the following forms in this course:
- written comments
- verbal comments
- feedback to whole class, groups, individuals, focus group etc
Student Feedback
ANU is committed to the demonstration of educational excellence and regularly seeks feedback from students. Students are encouraged to offer feedback directly to their Course Convener or through their College and Course representatives (if applicable). Feedback can also be provided to Course Conveners and teachers via the Student Experience of Learning & Teaching (SELT) feedback program. SELT surveys are confidential and also provide the Colleges and ANU Executive with opportunities to recognise excellent teaching, and opportunities for improvement.
Class Schedule
| Week/Session | Summary of Activities | Assessment |
|---|---|---|
| 1 | Strategic form games | |
| 2 | Extensive form games: definition and subgame perfection | Assignment 1 |
| 3 | Backward induction and applications | |
| 4 | Moral hazard and adverse selection | Assignment 2 |
| 5 | Infinite horizon games: the single-deviation principle | |
| 6 | Negotiation games and repeated games with perfect monitoring | |
| 7 | Games with imperfect public monitoring | |
| 8 | Relational contracts and extensions | Assignment 3 |
| 9 | Sequential equilibrium: definition and first examples | |
| 10 | Signalling games and other refinements | |
| 11 | Conditional probability; Bayesian updating | Assignment 4 |
| 12 | More applications of sequential equilibrium |
Tutorial Registration
ANU utilises MyTimetable to enable students to view the timetable for their enrolled courses, browse, then self-allocate to small teaching activities / tutorials so they can better plan their time. Find out more on the Timetable webpage. https://www.anu.edu.au/students/program-administration/timetabling
Assessment Summary
| Assessment task | Value | Due Date | Return of assessment | Learning Outcomes |
|---|---|---|---|---|
| Assignment 1 | 5 % | 04/08/2022 | 11/08/2022 | 1, 2, 3, 4 |
| Assignment 2 | 5 % | 18/08/2022 | 25/08/2022 | 1, 2, 3, 4 |
| Mid-semester exam | 30 % | * | * | 1, 2, 3, 4 |
| Assignment 3 | 5 % | 06/10/2022 | 13/10/2022 | 1, 2, 3, 4 |
| Assignment 4 | 5 % | 20/10/2022 | 27/10/2022 | 1, 2, 3, 4 |
| Final exam | 50 % | * | * | 1, 2, 3, 4 |
* If the Due Date and Return of Assessment date are blank, see the Assessment Tab for specific Assessment Task details
Policies
ANU has educational policies, procedures and guidelines , which are designed to ensure that staff and students are aware of the University’s academic standards, and implement them. Students are expected to have read the Academic Integrity Rule before the commencement of their course. Other key policies and guidelines include:
- Academic Integrity Policy and Procedure
- Student Assessment (Coursework) Policy and Procedure
- Special Assessment Consideration Guideline and General Information
- Student Surveys and Evaluations
- Deferred Examinations
- Student Complaint Resolution Policy and Procedure
- Code of practice for teaching and learning
Assessment Requirements
The ANU is using Turnitin to enhance student citation and referencing techniques, and to assess assignment submissions as a component of the University's approach to managing Academic Integrity. For additional information regarding Turnitin please visit the Academic Skills website. In rare cases where online submission using Turnitin software is not technically possible; or where not using Turnitin software has been justified by the Course Convener and approved by the Associate Dean (Education) on the basis of the teaching model being employed; students shall submit assessment online via ‘Wattle’ outside of Turnitin, or failing that in hard copy, or through a combination of submission methods as approved by the Associate Dean (Education). The submission method is detailed below.
Moderation of Assessment
Marks that are allocated during Semester are to be considered provisional until formalised by the College examiners meeting at the end of each Semester. If appropriate, some moderation of marks might be applied prior to final results being released.
Participation
Lectures will be held face to face with ECON360 recording. Tutorials will be on-campus with a live Zoom option for remote students. Participation of lectures and tutorials are not assessed but strongly encouraged.
Examination(s)
A three-hour mid-semester exam and a four-hour final exam.
Assessment Task 1
Learning Outcomes: 1, 2, 3, 4
Assignment 1
Homework assignment weighing 5%. Student solve problems independently; some of them will be challenging and require creativity and/or careful logical thinking. Honours students are to solve additional homework problems that test their understanding of honours-specific course material and/or are more challenging. Questions will be posted one week prior to the due dates and submission will be via Turnitin. Due on 4 Aug.
Assessment Task 2
Learning Outcomes: 1, 2, 3, 4
Assignment 2
Homework assignment weighing 5%. Student solve problems independently; some of them will be challenging and require creativity and/or careful logical thinking. Honours students are to solve additional homework problems that test their understanding of honours-specific course material and/or are more challenging. Questions will be posted one week prior to the due dates and submission will be via Turnitin. Due on 18 Aug.
Assessment Task 3
Learning Outcomes: 1, 2, 3, 4
Mid-semester exam
Three-hour online exam weighing 30%; redeemable by the final exam. This will be scheduled during Week 6 or 7 covering material from Weeks 1 to 5. There will be no short answer or multiple choice questions; all questions will be problem solving. The exam is open book and calculators may be used too. More information will be released in Week 4.
Assessment Task 4
Learning Outcomes: 1, 2, 3, 4
Assignment 3
Homework assignment weighing 5%. Student solve problems independently; some of them will be challenging and require creativity and/or careful logical thinking. Honours students are to solve additional homework problems that test their understanding of honours-specific course material and/or are more challenging. Questions will be posted one week prior to the due dates and submission will be via Turnitin. Due on 6 Oct.
Assessment Task 5
Learning Outcomes: 1, 2, 3, 4
Assignment 4
Homework assignment weighing 5%. Student solve problems independently; some of them will be challenging and require creativity and/or careful logical thinking. Honours students are to solve additional homework problems that test their understanding of honours-specific course material and/or are more challenging. Questions will be posted one week prior to the due dates and submission will be via Turnitin. Due on 20 Oct.
Assessment Task 6
Learning Outcomes: 1, 2, 3, 4
Final exam
Four-hour online exam weighing 50%. This will be scheduled during the exam period, covering material throughout the semester. There will be no short answer or multiple choice questions; all questions will be problem solving. The exam is open book and calculators may be used too. More information will be released in Week 10.
Academic Integrity
Academic integrity is a core part of the ANU culture as a community of scholars. The University’s students are an integral part of that community. The academic integrity principle commits all students to engage in academic work in ways that are consistent with, and actively support, academic integrity, and to uphold this commitment by behaving honestly, responsibly and ethically, and with respect and fairness, in scholarly practice.
The University expects all staff and students to be familiar with the academic integrity principle, the Academic Integrity Rule 2021, the Policy: Student Academic Integrity and Procedure: Student Academic Integrity, and to uphold high standards of academic integrity to ensure the quality and value of our qualifications.
The Academic Integrity Rule 2021 is a legal document that the University uses to promote academic integrity, and manage breaches of the academic integrity principle. The Policy and Procedure support the Rule by outlining overarching principles, responsibilities and processes. The Academic Integrity Rule 2021 commences on 1 December 2021 and applies to courses commencing on or after that date, as well as to research conduct occurring on or after that date. Prior to this, the Academic Misconduct Rule 2015 applies.
The University commits to assisting all students to understand how to engage in academic work in ways that are consistent with, and actively support academic integrity. All coursework students must complete the online Academic Integrity Module (Epigeum), and Higher Degree Research (HDR) students are required to complete research integrity training. The Academic Integrity website provides information about services available to assist students with their assignments, examinations and other learning activities, as well as understanding and upholding academic integrity.
Online Submission
You will be required to electronically sign a declaration as part of the submission of your assignment. Please keep a copy of the assignment for your records. Unless an exemption has been approved by the Associate Dean (Education) submission must be through Turnitin.
Hardcopy Submission
For some forms of assessment (hand written assignments, art works, laboratory notes, etc.) hard copy submission is appropriate when approved by the Associate Dean (Education). Hard copy submissions must utilise the Assignment Cover Sheet. Please keep a copy of tasks completed for your records.
Late Submission
Late submission not permitted. If submission of assessment tasks without an extension after the due date is not permitted, a mark of 0 will be awarded.
Referencing Requirements
The Academic Skills website has information to assist you with your writing and assessments. The website includes information about Academic Integrity including referencing requirements for different disciplines. There is also information on Plagiarism and different ways to use source material.
Returning Assignments
Assignments will be marked in Turnitin with marks and comments.
Extensions and Penalties
Extensions and late submission of assessment pieces are covered by the Student Assessment (Coursework) Policy and Procedure. Extensions may be granted for assessment pieces that are not examinations or take-home examinations. If you need an extension, you must request an extension in writing on or before the due date. If you have documented and appropriate medical evidence that demonstrates you were not able to request an extension on or before the due date, you may be able to request it after the due date.
Resubmission of Assignments
Resubmission is not allowed.
Privacy Notice
The ANU has made a number of third party, online, databases available for students to use. Use of each online database is conditional on student end users first agreeing to the database licensor’s terms of service and/or privacy policy. Students should read these carefully. In some cases student end users will be required to register an account with the database licensor and submit personal information, including their: first name; last name; ANU email address; and other information.In cases where student end users are asked to submit ‘content’ to a database, such as an assignment or short answers, the database licensor may only use the student’s ‘content’ in accordance with the terms of service – including any (copyright) licence the student grants to the database licensor. Any personal information or content a student submits may be stored by the licensor, potentially offshore, and will be used to process the database service in accordance with the licensors terms of service and/or privacy policy.
If any student chooses not to agree to the database licensor’s terms of service or privacy policy, the student will not be able to access and use the database. In these circumstances students should contact their lecturer to enquire about alternative arrangements that are available.
Distribution of grades policy
Academic Quality Assurance Committee monitors the performance of students, including attrition, further study and employment rates and grade distribution, and College reports on quality assurance processes for assessment activities, including alignment with national and international disciplinary and interdisciplinary standards, as well as qualification type learning outcomes.
Since first semester 1994, ANU uses a grading scale for all courses. This grading scale is used by all academic areas of the University.
Support for students
The University offers students support through several different services. You may contact the services listed below directly or seek advice from your Course Convener, Student Administrators, or your College and Course representatives (if applicable).
- ANU Health, safety & wellbeing for medical services, counselling, mental health and spiritual support
- ANU Access and inclusion for students with a disability or ongoing or chronic illness
- ANU Dean of Students for confidential, impartial advice and help to resolve problems between students and the academic or administrative areas of the University
- ANU Academic Skills and Learning Centre supports you make your own decisions about how you learn and manage your workload.
- ANU Counselling Centre promotes, supports and enhances mental health and wellbeing within the University student community.
- ANUSA supports and represents undergraduate and ANU College students
- PARSA supports and represents postgraduate and research students
Convener
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Research InterestsContract theory, mechanism design |
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Dr Ruitian Lang
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