SCQF level 11
Academic year(s): 2021-2022
SCOTCAT credits : 20
ECTS credits : 10
Level : SCQF level 11
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.
Weekly contact: 2 lectures, occasional tutorials.
As used by St Andrews: 3-hour Written Examination = 75%, Coursework = 25%
Re-assessment: 3-hour Written Examination = 100%
Module coordinator: Professor A Zapechelnyuk
Module teaching staff: Andy Zapechelnyuk