Game Theory in Business (BS0084)

? Credit Points : 10 ? SCQF Level : 11 ? Acronym : MSE-P-BS0084

This course is about decisions that involve conflict and interdependency in an essential way. Situations in which what one person, or firm, or government, does affects the opportunities, and pay-offs of others, and vice versa, are ubiquitous in the real world, eg bidding for a contract, negotiating a wage rise, introducing a new product, setting economic policy.

Much insight has been gained into these problems by the application of game theory. In this course you will learn the essentials of modern game theory and apply it to a number of business situations.

Entry Requirements

? Pre-requisites : PGs Only

Subject Areas

Home subject area

Business Studies, (Management School and Economics, Schedule H)

Delivery Information

? Normal year taken : Postgraduate

? Delivery Period : Semester 2 (Blocks 3-4)

? Contact Teaching Time : 2 hour(s) 30 minutes per week for 9 weeks

Summary of Intended Learning Outcomes

By the end of the course students should have

- a vocabulary for discussing business situations involving conflict and interdependency;

- a tool kit for analysing business situations involving conflict and interdependency;

- insight into a variety of business situations involving conflict and interdependency by the application of game theory

Assessment Information

Assessment will consist of: (i) an essay/project, counting for 20% of the overall mark, (ii) a degree exam of two hours duration, counting for 80% of the overall mark.