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Module

ECO3032 : Game Theory

  • Offered for Year: 2022/23
  • Module Leader(s): Dr Francis Kiraly
  • Owning School: Newcastle University Business School
  • Teaching Location: Newcastle City Campus
Semesters
Semester 2 Credit Value: 10
ECTS Credits: 5.0

Aims

Game theory constitutes one of the main approaches used in economic theory. As a method of scientific analysis, it formalises situations of social interaction and strategic behaviour, and offers explanations for various outcomes in terms of equilibrium inter-dependent decisions. The module offers an in-depth analysis of various game theoretical models and provides further applications of game theory in economics.

Outline Of Syllabus

1.       Games in normal form
2.       Games in extensive form
3.       Games with incomplete information
4.       Repeated games
5.       Bargaining
6.       Games in coalitional form

Teaching Methods

Teaching Activities
Category Activity Number Length Student Hours Comment
Scheduled Learning And Teaching ActivitiesLecture151:0015:00PIP lectures
Guided Independent StudyAssessment preparation and completion130:0030:00N/A
Guided Independent StudyDirected research and reading133:0033:00N/A
Scheduled Learning And Teaching ActivitiesSmall group teaching31:003:00PIP seminars
Guided Independent StudyIndependent study119:0019:00N/A
Total100:00
Teaching Rationale And Relationship

1.       Lectures provide an in-depth presentation of game theoretical models.
2.       Seminars take students through economic applications of game theory and provide solutions to problem sets.
3.       Independent study involves preparing problem sets and additional reading material.

Assessment Methods

The format of resits will be determined by the Board of Examiners

Exams
Description Length Semester When Set Percentage Comment
Written Examination1202A100N/A
Formative Assessments
Description Semester When Set Comment
Prob solv exercises2MExercise Sets, followed by group feedback.
Assessment Rationale And Relationship

The examination is designed to test the students’ ability to formalise and analyse game theoretical models of strategic interaction, as well as their ability to apply the methods of game theory to applications in economics.

Learning outcomes can only be assessed through a problem-based analytical/formal written exam.

Alternative assessment: written, online take-home exam.

Reading Lists

Timetable