|Year of offer||2019|
|Subject level||Graduate coursework|
|Fees||Subject EFTSL, Level, Discipline & Census Date|
Managers make decisions day in, day out. These decisions affect others both within the firm, such as other divisions and subordinates, etc., as well competitors, customers, regulators, and even capital markets. Moreover, the outcome of these decisions depends on the decisions of others. Therefore, anticipating the reaction of others is essential for making the best decision and reaching a successful outcome. This course introduces basic tools to analyze such choices: concepts of individual decision-making and of strategic interaction (game theory). A combination of these tools will lead students to approach managerial problems critically and analytically. As a result, students will be able to think strategically in complex, interactive environments.
Intended learning outcomes
On completion of this subject, students should be able to:
- think strategically in interactive environments;
- understand how game theory can be used to anticipate market dynamics;
- understand the foundations of bargaining and negotiation theory;
- understand how game theory can be used to design efficient auctions and tenders;
- understand strategic importance of asymmetric information.