Module code: ECON2550
The module aims to provide an understanding of the concepts of strategic interaction and rationality in the context of specific economic problems. Game-theoretic notions of what constitutes an equilibrium will be fundamental as will the role of information in determining outcomes. Topics will include Nash equilibrium, subgame perfection, the modelling of uncertainty and asymmetric information, backward induction and extensive form games. A strong theme will be the ability to not just understand the pure theory, but to be able to apply these ideas to real scenarios such as auctions, imperfectly competitive markets and political economy.
Contact hours per student per year
- Lectures: 22 hours
- Tutorials: 8 hours
- Presentation: 40%
- Exam: 60%
Additional costs: No extra costs other than purchase of books