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ECON-S412

Game theory with applications to economics

academic year
2023-2024
2024-2025

Course teacher(s)

Georg KIRCHSTEIGER (Coordinator)

ECTS credits

5

Language(s) of instruction

english

Course content

This course introduces into the analysis of strategic economic situations. Using examples from auction theory, bargaining theory, industrial organization and labor markets the students learn the main concepts used to analyze strategic problems. In particular, the course covers the analysis of static and dynamic games with complete and with incomplete information.

Objectives (and/or specific learning outcomes)

After the course, the students should be able to formalize simple strategic situations as games.

Teaching methods and learning activities

The course consists of three parts:
a) 12 lectures given in class. The slides for these lectures are not lecture notes, they cannot be understood without attending the lecture. The slides can be downloaded from UV. Pre-recorded videos of the lectures can be streamed using teams.
b) Problems sets that have to be studied by the students at home. The problem sets also contain detailed descriptions of the solutions to the problems. The files with the problems sets and the solutions can be downloaded from UV.
c) 6 Question and answer sessions in class. Specific questions, which might arise when the students study the material at home, will be answered during these Q+A sessions. The students have to send the questions to the professor on Sunday before the respective Q+A sessions will take place.

Contribution to the teaching profile

This course is part of the Master programs in Business Economics and in Economic Governance & Public Policy in Europe. It provides the game theoretic tools needed to analyze strategic situations. It specifically covers the following programs learning objectives:
 
Program in Business Economics
LO 1.1 - Integrate sustainable development into problem analysis
LO 1.2 - Identify and apply the relevant analytical tools and scientific knowledge to analyze an economic problem in depth.
LO 1.4 - Thorough and critical understanding of the workings, benefits and limits of markets, as well as regulatory approaches.
LO 2.1 - Adopt a scientific approach to data collection, research and analysis and communicate results with clear, structured and sophisticated arguments.
LO 2.2 - Display critical thinking and develop autonomous learning strategies and techniques
LO 4.2 Demonstrate a strong work ethic
Program in Economic Governance & Public Policy in Europe
LO 1.1 - Integrate sustainable development into problem analysis
LO 1.2 - Identify and apply the relevant analytical tools and scientific knowledge to analyse an economic problem in depth.
LO 2.1 Adopt a scientific approach to data collection, research and analysis and communicate results with clear, structured and sophisticated arguments.
LO 2.2 Display critical thinking and develop autonomous learning strategies and techniques
LO 4.2 Demonstrate a strong work ethic

References, bibliography, and recommended reading

Gibbons, R. (1992), A Primer in Game Theory, Prentice Hall.

Course notes

  • Université virtuelle

Other information

Contacts

gkirchst@ulb.ac.be

Campus

Solbosch

Evaluation

Method(s) of evaluation

  • written examination

written examination

Mark calculation method (including weighting of intermediary marks)

grade of course = grade of the exam

Language(s) of evaluation

  • english

Programmes