This course introduces game theory and strategic decision-making in economics. We use this framework to study how incentives and interdependence influence economic behavior. Throughout
the course, you will learn essential economic concepts such as rationality and decision-making under uncertainty. Additionally, you will analyze canonical game forms, including static games,
dynamic games, and games under uncertainty, to understand how these models are applied in strategic contexts.
For students pursuing advanced studies in economics, this class should be taken together with the course PEC 2271: Strategic thinking and social interactions, which emphasizes the ideas behind the formal models and their impact on many complex social situations and dilemmas in history, politics and international relations that shape law, diplomacy and war. However, this course is also suitable as a standalone option for those not specializing in economics.
We will explore the key concepts in the course verbally and through written expositions, and use mathematical formulations to express the ideas in formal terms. For this, knowledge of high-school
level algebra and geometry is required and expected. Some prior knowledge of statistical theory/applications will be advantageous.
The course has two requirements: [a] Class participation based on a deep reading of assigned materials and [b] problem sets and related assignments. You should not miss a class. Before
coming to class, you must engage carefully with the assigned materials and participate seriously in class discussions. Also, you must complete all problem sets and submit them for discussion in a
timely manner. The course is designed to [1] help students gain a critical understanding of core principles of game theory and apply them to a wide range of economic issues and [2] guide them in formulating their analytical questions as they expand their knowledge through active, self-determined investigation. Throughout this course, students will expand their capabilities for economic reasoning and progress in their capacities to inquire, engage, and communicate.
Learning Outcomes:
The course is designed to [1] help students gain a critical understanding of core principles of game theory and apply them to a wide range of real-world issues, and [2] guide them in formulating their own analytical questions as they expand their knowledge through active, self-determined investigation. Throughout this course, students will expand their capabilities for economic reasonings, and progress in their capacities to inquire, engage and communicate.
Delivery Method: Fully in-person
Course Level: 2000-level
Credits: 4
M/Th 10:00AM - 11:50AM (Full-term)
Maximum Enrollment: 12
Course Frequency: Every 2-3 years
Categories: 2000 , All courses , Four Credit , Fully In-Person , New Courses , Political Economy , Updates
Tags: critical analytical thinking. , economics , game theory , political economy , research