ECON 345 - Games and Strategies
Some decisions in life are simple. Others are more complicated. Game theory is the study of decisions that are complicated by strategic interactions, situations where making the best choice requires taking into account the decisions being made by others. This course presents the basic concepts of game theory and applies those concepts to a variety of microeconomic topics. Some of the applications examined include oligopoly behavior, auctions, political elections, moral hazard, principal-agent models, bargaining, and evolutionary models. Experimental evidence that sometimes confirms, but often conflicts with, the predictions from game theory is also examined.
Prerequisites: ECON 251 and (MATH 105 or MATH 316 or CORE 143S or MATH 102) or a high school calculus course. Must understand what a derivative is and be able to take the derivative of simple (e.g., polynomial) functions.
Major/Minor Restrictions: None
Class Restriction: None
Area of Inquiry: Social Relations,Inst.& Agents
Liberal Arts CORE: None
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