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Postgraduate course

Game Theory

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ECTS Credits

10 ECTS

Level of Study

Master

Teaching semester

Spring

Place of Instruction

UiB

Objectives and Content

This course will cover the models and tools from the field of game theory, and will introduce students to a host of applications of game theory. The goal will be to provide students with an advanced level of knowledge and understanding of the modeling of strategic situations. To enhance students' understanding of the different theories, special attention will be paid to teaching relevant applications.

An overview of the (preliminary) topic structure of the course:

  • Static games of complete information
  • Dynamic games of complete information
  • Static games of incomplete information
  • Dynamic games of incomplete information
  • Cooperative game theory
  • Interpretations and Refinements of equilibrium concepts
  • Modeling of bounded rationality and learning in games
  • Psychological (behavioral) game theory

Throughout the course, students are introduced to many real-life applications of game theory such as in the fields of (preliminary):

  • Auctions
  • Industrial organization and competition policy
  • Employer-employee relationships and contracts
  • Labor market decisions, (wage bargaining, competence signaling)
  • Corporate capital structures and investment decisions
  • Monetary policy
  • Online platforms and market places
  • Ai and Machine learning

Learning Outcomes

A student who has completed the course should have the following learning outcomes:

Knowledge

The student will

  • understand main and advanced results from the theory of economic games and asymmetric information
  • be acquainted with applications of these theories to a variety of real world problems

Skills

The student will

  • be able to formulate different strategic situations in terms of game theoretic models
  • be able to solve for equilibrium outcomes of different types of strategic situations
  • be able to interpret how the existence, stability and characteristics of an equilibrium outcome depend on parameters and elements of a strategic situation
  • be able to criticize and recognize (possibly testable) shortcomings of the presented game theoretical models

General competence

The student will

  • Significantly increase the ability to think analytically and tackle complex problems
  • manage to recognize and formulate precise questions about strategic situations and understand the theoretical tools to address these questions. 

Required Previous Knowledge

ECON310

Recommended Previous Knowledge

None

Credit Reduction due to Course Overlap

None

Access to the Course

The course is oriented towards students in the Master´s Programme in Economics or Professional Studies in Economics, but is open to visiting students upon approval of student request.

Teaching and learning methods

The course will consist of 16-18 lectures of two hours (including breaks). Next to this, there will be several two-hour exercise seminars where the students are time to work on selected exercises. Further information about exercises will follow in the course.

Compulsory Assignments and Attendance

Students will have to make and hand in one pass/fail assignment in groups of 2 - 3. Approved compulsory requirements do not have time limits.

Compulsory assignments that are not accepted on the first try, may be handed in a second time. To be able to get this opportunity, the student must have made a sincere effort the first time around; that is, the student must have tried to answer most of the assignment.

Forms of Assessment

4 hours written exam

Examination Support Material

Mathematical Formula Collection of K Sydsæter, A. Strøm and P. Berck or Mathematical Formulas for Economists of B Luderer, V. Nollau and K. Vetters and calculator. The following simple, non-programmable calculators without graphical display are allowed to be used for written tests:

All models of the type:

  • Casio FX-82, Casio FX-82ES PLUS or Casio FX-82EX
  • Hewlett-Packard HP30
  • Texas Instruments TI-30

The Department of Economics can conduct a sample of aids in the examination room.

Grading Scale

Graded A - F

Assessment Semester

Assessment in teaching semester. New exam the following semester only for students who have a valid document of absence.

Reading List

The reading list will be ready before 1 Decemeber for the spring semester. 

Course Evaluation

All courses are evaluated according to UiB's system for quality assurance of education.

Programme Committee

The Programme Committee is responsible for the content, structure and quality of the study programme and courses.

Course Coordinator

Course coordinator and administrative contact person can be found on Mitt UiB. 

Course Administrator

The Department of Economics at the Faculty of Social Sciences has the administrative responsibility for the course and the study programme. 

Contact

Department of Economics

studieveileder@econ.uib.no

Exam information

  • Type of assessment: Take-home exam

    Assignment handed out
    03.06.2021, 09:00
    Submission deadline
    03.06.2021, 14:00
    Withdrawal deadline
    20.05.2021
    Examination system
    Inspera
    Digital exam