Module Lead: Indra Ray
Credits: 10
Introduction and module objectives:
The main emphasis of the module will be on the discussion and description of solution concepts appropriate for various types of economic problems. This module aims to provide the theoretical background necessary to understand game theoretic models and how these models are applied as a tool to solve problems in economics. These are becoming increasingly common in many areas, such as Industrial Organization, Political Economy, International Trade and Environmental Economics.
Learning Outcomes:
By the end of the module students should be able to:
- Use game theoretic models to formulate advanced practical problems;
- Solve complex problems using solution concepts taught in the module;
- Critically analyse the theoretical solutions to game theoretic models;
- Understand in depth the application of game theory techniques;
- Appreciate the complexities of key policy issues that arise using game theory.
Assessment:
- One hour class test (10%)
- Two problem sets (10%)
- Two hour written unseen examination (80%)