|Year of offer||2017|
|Subject level||Undergraduate Level 2|
|Fees||Subject EFTSL, Level, Discipline & Census Date|
This is an introductory course in game theory and information economics. Topics include static and dynamic models of strategic interaction, decision making under uncertainty, adverse selection, signalling and screening models, coordination and cooperation, horizontal and vertical integration, collusion and product differentiation. Empirical examples, applications to business and public policy and field evidence will be emphasised.
Intended learning outcomes
- Develop game theoretic and strategic reasoning and its application to real-world phenomena.
- Develop a basic understanding of information economics and how contracts can help alleviate problems related to asymmetric information.
- Develop background on imperfectly competitive markets and the role for anti-trust policy.
High level of development: written communication; problem solving; application of theory to practice; interpretation and analysis; critical thinking; synthesis of data and other information; evaluation of data and other information; receptiveness to alternative ideas.
Moderate level of development: oral communication; collaborative learning; team work; accessing data and other information from a range of sources.
Some level of development: statistical reasoning; use of computer software; accessing data and other information from a range of sources.