University of St Andrews

Key information

SCOTCAT credits : 20

ECTS credits : 10

Level : SCQF level 11

Semester: 2

Planned timetable: To be arranged.

Game theory is a formal method of studying strategic interactions: interactions between multiple decision-makers involving conflict and cooperation. Game theory is a central part of the modern economics toolkit and has many applications across multiple subjects, including business strategy, finance, biology, sociology, political science, computer science. This module will cover core models and solution concepts from game theory and apply them to selected topics among the following: bargaining, oligopolies and industrial organisation, pricing, auctions, market design, competition between political parties, signalling, strategic information transmission, social learning. While the module does not require advanced mathematical knowledge beyond what is necessary for MSc-level microeconomics, students are expected to have solid training in microeconomics and should be aware that this module primarily requires problem-solving.

Learning and teaching methods and delivery

Weekly contact: 2-hour lecture (x 10 weeks), 1-hour tutorial (x 5 weeks)

Assessment pattern

As used by St Andrews: 40% coursework, 60% examination


Re-assessment: 100% Written Examination

Personnel

Module coordinator: Dr L Bridet
Module teaching staff: Luc Bridet

Intended learning outcomes

• Understand and apply the core analytic tools of game theory, such as Nash equilibrium and subgame-perfection.
• Understand modelling decisions such as commitment assumptions, timing, solution concept.
• Apply decision-making criteria in settings featuring both strategic- and non-strategic uncertainty.
• Use the same core tools and concepts in a variety of economic applications.