2018-2019 University Catalogue 
    Oct 23, 2021  
2018-2019 University Catalogue [ARCHIVED CATALOG]

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.

Credits: 1.00
Corequisite: None
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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