THE UNIVERSITY of EDINBURGH

DEGREE REGULATIONS & PROGRAMMES OF STUDY 2016/2017

University Homepage
DRPS Homepage
DRPS Search
DRPS Contact
DRPS : Course Catalogue : School of Economics : Economics

Undergraduate Course: Economics of Strategic Behaviour 1 (ECNM10032)

Course Outline
SchoolSchool of Economics CollegeCollege of Humanities and Social Science
Credit level (Normal year taken)SCQF Level 10 (Year 4 Undergraduate) AvailabilityAvailable to all students
SCQF Credits20 ECTS Credits10
SummaryThis half-course Senior Honours option comprises the first term of the full-course option the Economics of Strategic Behaviour. The half-course reviews the game theoretic analysis of interactive decision-making, covering static and dynamic games with complete information, and static games with incomplete information. The basic concepts developed include: Nash equilibrium; dominant strategies; mixed strategies; games in extensive form; subgame perfection; timing & commitment. The concepts are illustrated by applications, such as: Cournot oligopoly; the "tragedy of the commons"; tennis; bargaining; policy credibility.
Course description This course is concerned with the analysis of economic problems that involve strategic interaction. The principal tool in this analysis will be the theory of games. The purpose of this course is to introduce the basic concepts of game theory and show how they can be of use in the analysis of economic problems and policy issues.

Topics covered include:

Static games with complete information, Basic concepts. Nash equilibrium. Dominant strategies. Mixed strategies. Examples: Cournot, ¿tragedy of the commons¿, tennis.

Dynamic games with complete information: Games in extensive form. Subgame perfection. Timing, commitment. Examples: policy credibility, repeated games.

Additional Topics: evolutionary game theory, matching

The course is taught through a programme of lectures and tutorials. Learning-by-doing, through problem solving and discussion of exercise sets, is an important ingredient of the course.
Entry Requirements (not applicable to Visiting Students)
Pre-requisites Students MUST have passed: Topics in Microeconomics (ECNM10070)
Co-requisites
Prohibited Combinations Students MUST NOT also be taking Economics of Strategic Behaviour (ECNM10013)
Other requirements None
Information for Visiting Students
Pre-requisitesNone
High Demand Course? Yes
Course Delivery Information
Academic year 2016/17, Available to all students (SV1) Quota:  None
Course Start Semester 1
Timetable Timetable
Learning and Teaching activities (Further Info) Total Hours: 200 ( Lecture Hours 20, Seminar/Tutorial Hours 3, Summative Assessment Hours 2, Programme Level Learning and Teaching Hours 4, Directed Learning and Independent Learning Hours 171 )
Assessment (Further Info) Written Exam 80 %, Coursework 20 %, Practical Exam 0 %
Additional Information (Assessment) Take home problem set (20% of the final mark); A 2 hour Degree examination in April/May diet (80% of the final mark).

Visiting Student Variant Assessment
A take-home problem set (50% of the final mark); two additional take-home problem sets (each worth 25% of the final mark).
Feedback Not entered
Exam Information
Exam Diet Paper Name Hours & Minutes
Main Exam Diet S2 (April/May)2:00
Academic year 2016/17, Part-year visiting students only (VV1) Quota:  None
Course Start Semester 1
Timetable Timetable
Learning and Teaching activities (Further Info) Total Hours: 200 ( Lecture Hours 20, Seminar/Tutorial Hours 3, Programme Level Learning and Teaching Hours 4, Directed Learning and Independent Learning Hours 173 )
Assessment (Further Info) Written Exam 0 %, Coursework 100 %, Practical Exam 0 %
Additional Information (Assessment) Take home problem set (20% of the final mark); A 2 hour Degree examination in April/May diet (80% of the final mark).

Visiting Student Variant Assessment
A take-home problem set (50% of the final mark); two additional take-home problem sets (each worth 25% of the final mark).
Feedback Not entered
No Exam Information
Learning Outcomes
On completion of this course, the student will be able to:
  1. A broad knowledge and understanding of key principles of static and dynamic game theory in a complete information setting, the importance of timing, commitment and credibility associated mathematical and statistical techniques, along with applications and policy implications of those models and a deeper understanding of recent research activity in some more specialised areas.
  2. Research and investigative skills such as problem framing and solving and the ability to assemble and evaluate complex evidence and arguments.
  3. Communication skills in order to critique, create and communicate understanding.
  4. Personal effectiveness through task-management, time-management, dealing with uncertainty and adapting to new situations, personal and intellectual autonomy through independent learning.
  5. Practical/technical skills such as, modelling skills (abstraction, logic, succinctness), qualitative and quantitative analysis.
Reading List
Steven Tadelis, Game Theory: An Introduction.
Additional Information
Graduate Attributes and Skills See Learning Outcomes
KeywordsESB1
Contacts
Course organiserDr Ed Hopkins
Tel: (0131 6)50 3061
Email: Ed.Hopkins@ed.ac.uk
Course secretaryMrs Anna Domagala
Tel: (0131 6)51 5305
Email: Anna.Domagala@ed.ac.uk
Navigation
Help & Information
Home
Introduction
Glossary
Search DPTs and Courses
Regulations
Regulations
Degree Programmes
Introduction
Browse DPTs
Courses
Introduction
Humanities and Social Science
Science and Engineering
Medicine and Veterinary Medicine
Other Information
Combined Course Timetable
Prospectuses
Important Information
 
© Copyright 2016 The University of Edinburgh - 3 February 2017 3:50 am