EC5220 - Game Theory

Academic year

2022 to 2023 (Semester 2)

Key module information

SCOTCAT credits

20

The Scottish Credit Accumulation and Transfer (SCOTCAT) system allows credits gained in Scotland to be transferred between institutions. The number of credits associated with a module gives an indication of the amount of learning effort required by the learner. European Credit Transfer System (ECTS) credits are half the value of SCOTCAT credits.

SCQF level

SCQF level 11

The Scottish Credit and Qualifications Framework (SCQF) provides an indication of the complexity of award qualifications and associated learning and operates on an ascending numeric scale from Levels 1-12 with SCQF Level 10 equating to a Scottish undergraduate Honours degree.

Planned timetable

To be arranged.

This information is given as indicative. Timetable may change at short notice depending on room availability.

Module coordinator

Dr L Bridet

This information is given as indicative. Staff involved in a module may change at short notice depending on availability and circumstances.

Module Staff

Luc Bridet

This information is given as indicative. Staff involved in a module may change at short notice depending on availability and circumstances.

Module description

This module will provide a thorough advanced treatment of the core models and concepts used in modern game theory. Many serious things in life are games. Game theory is a set of formal techniques used to study situations of strategic interaction. These are situations where the reward obtained by each member of a group (e.g. firms, political parties, students) depends not only on the decision made by that member, but also on the decisions made by everybody else; and, in addition, everybody is aware of this interdependence. The methods of game theory are widely used in contemporary economics. An acquaintance with them is essential to the accomplished economist. In fact, game theory provides a unified language to address a spectrum of problems which is not limited to economics. Topics covered will include: strategic games; mixed strategy equilibria; extensive form games (with perfect information); bargaining games; repeated games; games of incomplete information; implementation theory; and bounded rationality. Students are expected to have a strong undergraduate level training in microeconomics and relevant mathematical and statistical techniques.

Assessment pattern

3-hour Written Examination = 75%, Coursework = 25%

Re-assessment

3-hour Written Examination = 100%

Learning and teaching methods and delivery

Weekly contact

2 lectures, occasional tutorials.

Intended learning outcomes

  • Understand the foundations of the formal approach to strategic thinking
  • Learn basic analytic tools of Game Theory, such as dominant strategies and Nash equilibrium
  • Be familiar the central concepts in probability and statistics used by econometricians
  • Apply game theoretic tools to analyse simple strategic interactions