Game Theory

Module code: EC2043

Game theory provides a powerful and flexible set of tools for analysing strategic interactions in Economics and beyond. This course will introduce you to the fundamental concepts of game theory, the main solution techniques applicable to situations of complete information in static and dynamic settings, and a wide selection of examples including oligopoly and repeated games. The course considers both the underlying theory of games as well as applications of the theory to important real-world economic problems affecting us in our day-to-day lives.

In this course you will learn to characterise real-world interactions in the form of strategic form games. Building on this, you will learn how the concept of Nash equilibrium in pure and mixed strategies can generate predictions about the outcomes we expect to emerge from these interactions.

You will also learn about the significance of timing and information in the context of dynamic games, including the important class of repeated games that underlies the study of important economic phenomena such as price-fixing or collusion.