Module code: EC2043
The main emphasis of this module is how game theory is used as a methodological tool to study decision making problems in all branches of economics - political, behavioural, micro- and macroeconomics. Game theory plays such a crucial role in economic decision making analysis as it is built on modelling the actions of an individual person in a group -which is dependent on the actions of other individuals in the group.
Throughout the duration of this module you will model the strategic interactions in game theory for dealings between firms, bargaining between businesses and voting during elections. You will do this by devising and analysing different games for different strategic interactions. Examples of the analysis and games you will be formulating include:
- Strategic-form games - this includes finite strategic-form games and continuous-action strategic-form games
- Extensive-form and repeated games
- Static and dynamic games