Course Details

GAME THEORY FOR ECONOMICS

Course Information

Semester	Course Unit Code	Course Unit Title	T+P+L	Credit	Number of ECTS Credits
5	ECON305	GAME THEORY FOR ECONOMICS	3+0+0	3	5

Course Details

Language of Instruction	English
Level of Course Unit	Bachelor's Degree
Department / Program	ECONOMICS
Type of Program	Formal Education
Type of Course Unit	Compulsory
Course Delivery Method	Face To Face
Objectives of the Course	Providing comprehensive knowledge on the types of games. Introducing the concept of Nash Equilibrium. Developing hands on experience on the construction of games for various interactions. Developing a game theoretical basis for analyzing, understanding and predicting the outcomes of various interactions.
Course Content	Course is designed as a general introduction to game theory and Nash equilibrium concepts with timely references to real life examples from various disciplines. It is aimed to construct a game theoretical platform that presented a playing field where well-known games from tennis to chess are reconstructed and that provides a solid basis for understanding complex phenomena in daily lives of individuals, firms or other economic agents. Solutions to simultaneous and sequential games are introduced on the bases of backward induction method, best-response analysis, maximin-minimax methods for zero-sum games, and sub-game perfect equilibrium.
Course Methods and Techniques
Prerequisites and co-requisities	( ECON101 )
Course Coordinator	Associate Prof.Dr. UMUT TÜRK umut.turk@agu.edu.tr
Name of Lecturers	None
Assistants	None
Work Placement(s)	No

Recommended or Required Reading

Resources	Dixit, A., Skeath, S. and Reiley, D.H. Games of Strategy. New York Osborne, M.J. An Introduction to Game Theory. Oxford University Press Watson, Joel. Strategy: an introduction to game theory.
	Dixit, A., Skeath, S. and Reiley, D.H. Games of Strategy. New York: Norton, Chapters1-2-7. Osborne, M.J. An Introduction to Game Theory. Oxford University Press (2004), Chapters 2, 4, 5, 11, 12. Watson, Joel. Strategy: an introduction to game theory. WW Norton, 2013.
	Dixit, A., Skeath, S. and Reiley, D.H. Games of Strategy. New York: Norton, Chapters1-2-7. Osborne, M.J. An Introduction to Game Theory. Oxford University Press (2004), Chapters 2, 4, 5, 11, 12. Watson, Joel. Strategy: an introduction to game theory. WW Norton, 2013.

Course Category

Social Sciences

%100

Planned Learning Activities and Teaching Methods

Activities are given in detail in the section of "Assessment Methods and Criteria" and "Workload Calculation"

Assessment Methods and Criteria

In-Term Studies	Quantity	Percentage
Yarıyıl İçi Çalışmalarının Başarı Notunun Katkısı	1	% 25
Ödev	7	% 15
Final examination	1	% 50
Total	9	% 90

ECTS Allocated Based on Student Workload

Activities	Quantity	Duration	Total Work Load
Yazılı Sınav	2	3	6
Grup Projesi	1	6	6
Ev Ödevi	7	2	14
Sınıf İçi Aktivitesi	6	1	6
Soru Çözümü	20	1	20
Okuma	15	1	15
Yüz Yüze Ders	15	3	45
Derse Devam	15	3	45
Total Work Load			Number of ECTS Credits 5 157

Course Learning Outcomes: Upon the successful completion of this course, students will be able to:

No	Learning Outcomes
1	Distinguish simultaneous and sequential games.
2	Determine Nash equilibria in various types of games.
3	Develop games out of scenarios, where interaction takes place between individuals, firms or machines, by constructing decision trees or matrices.
4	Analyze basic games in a way to predict outcomes.

Weekly Detailed Course Contents

Week	Topics	Study Materials	Materials
1	Introduction to Game Theory. What is a Game? Assumptions
2	Representation Forms: Representing sequential/dynamic games in extensive form.
3	Solving sequential games using backward induction.
4	Representing simultaneous/static games in strategic form. The concept of Nash equilibrium.
5	The concept of Pareto-efficiency.
6	Dominance. Iterated elimination of dominated strategies. Best-response analysis Maximin-minimax method for zero-sum games.
7	Recap
8	Representing sequential games in strategic form. Games with both sequential and simultaneous moves.
9	Nash equilibria and sub-game perfect equilibria in sequential games. Representing simultaneous games in extensive form Information sets.
10	Solving games with sequential and simultaneous moves.
11	Mixed strategy equilibria.
12	Finding mixed-strategy equilibria using best-response analysis.
13	Location Games, Games with continuous moves: Cournot, Bertrand, Stackelberg Competitions games.
14	Collective Decision Games. Bayesian Nash Equilibrium.
15	Recap
16

Contribution of Learning Outcomes to Programme Outcomes

Contribution: 1: Very Slight 2:Slight 3:Moderate 4:Significant 5:Very Significant

https://sis.agu.edu.tr/oibs/bologna/progCourseDetails.aspx?curCourse=70494&lang=en