ULMS Electronic Module Catalogue |
The information contained in this module specification was correct at the time of publication but may be subject to change, either during the session because of unforeseen circumstances, or following review of the module at the end of the session. Queries about the module should be directed to the member of staff with responsibility for the module. |
Title | GAME THEORETICAL APPROACHES TO MICROECONOMICS | ||
Code | ECON322 | ||
Coordinator |
Dr CW Bach Economics C.W.Bach@liverpool.ac.uk |
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Year | CATS Level | Semester | CATS Value |
Session 2020-21 | Level 6 FHEQ | First Semester | 15 |
Pre-requisites before taking this module (other modules and/or general educational/academic requirements): |
ECON111 MATHEMATICS FOR ECONOMICS AND BUSINESS; ECON112 STATISTICS FOR ECONOMICS AND BUSINESS; ECON113 Mathematical Economics |
Modules for which this module is a pre-requisite: |
Programme(s) (including Year of Study) to which this module is available on a required basis: |
Programme(s) (including Year of Study) to which this module is available on an optional basis: |
Teaching Schedule |
Lectures | Seminars | Tutorials | Lab Practicals | Fieldwork Placement | Other | TOTAL | |
Study Hours |
10 |
24 12 |
46 | ||||
Timetable (if known) |
120 mins X 1 totaling 24
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Private Study | 104 | ||||||
TOTAL HOURS | 150 |
Assessment |
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EXAM | Duration | Timing (Semester) |
% of final mark |
Resit/resubmission opportunity |
Penalty for late submission |
Notes |
Assessment 1: Online open book assessment Assessment Type: Written Exam Duration: 72 hours (Expected completion time 2-3 hours) Weighting: 50% Reassessment Opportunity: Yes Penalty for | 72 hours (Expected c | 50 | ||||
Assessment 2: Online open book assessment Assessment Type: Written Exam Duration: 72 hours (Expected completion time 2-3 hours) Weighting: 50% Reassessment Opportunity: Yes Penalty for L | 72 hours (Expected c | 50 | ||||
CONTINUOUS | Duration | Timing (Semester) |
% of final mark |
Resit/resubmission opportunity |
Penalty for late submission |
Notes |
Aims |
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The objective of the module is to provide an introduction to game theory. This is the study of strategic interactions ie situations where outcomes depend not only on our own actions but also how others react to our actions. This module complements those in core macro and microeconomics and offers more insight into strategic decisions and competitive behaviour in general. |
Learning Outcomes |
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(LO1) Distinguish between types of games |
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(LO2) Explain game theoretical concepts |
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(LO3) Conduct advanced microeconomic analysis by formulating a game and its associated solution concepts and deriving solutions to games |
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(LO4) Apply games in a range of economic, business and social contexts |
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(LO5) Explain the importance of game theoretic approaches in economic analysis |
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(S1) Problem Solving Skills |
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(S2) Numeracy |
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(S3) Commercial Awareness |
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(S4) Teamwork |
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(S5) Organisational Skills |
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(S6) Communication skills |
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(S7) IT skills |
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(S8) International awareness |
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(S9) Lifelong learning skills |
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(S10) Ethical awareness |
Teaching and Learning Strategies |
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Teaching Delivery: Mixed, hybrid delivery with social distancing on campus. Teaching Method: Online Asynchronous Learning Materials Weeks 7-12: PART II – Dynamic Games Costs Information: There are the following non-modular requirements: Skills/Other Attributes Mapping Skills / attributes: Numeracy Skills / attributes: Problem Solving Skills Skills / attributes: Commercial Awareness Skills / attributes: Teamwork Skills / attributes: Organisational Skills Skills / attributes: Communication Skills Skills / attributes: IT Skills Skills / attributes: International Awareness Skills / attributes: Lifelong Learning Skills Skills / attributes: Ethical Awareness |
Syllabus |
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List op Topics (tentative) GAMES AND DOMINATION BEST RESPONSES AND NASH EQUILIBRIUM APPLICATIONS OF NASH EQUILIBRIUM MIXED STRATEGIES APPLICATIONS OF MIXED STRATEGY NASH EQUILIBRIUM BACKWARD INDUCTION AND SPNE SPNE AND APPLICATIONS STATIC GAMES OF INCOMPLETE INFORMATION APPLICATION OF BAYESIAN GAMES DYNAMIC GAMES OF INCOMPLETE INFORMATION |
Recommended Texts |
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Reading lists are managed at readinglists.liverpool.ac.uk. Click here to access the reading lists for this module. |