| Module Identifier |
EC30110 |
| Module Title |
OLIGOPOLY AND INTRODUCTION TO GAME THEORY |
| Academic Year |
2007/2008 |
| Co-ordinator |
Mr Dennis A Thomas |
| Semester |
Semester 1 |
| Pre-Requisite |
EC30220 Available only to third year students |
| Mutually Exclusive |
EC36420 |
| Course delivery |
Seminars / Tutorials | 4 Hours. |
| |
Lecture | 10 Hours. |
| Assessment |
| Assessment Type | Assessment Length/Details | Proportion |
|---|
| Semester Exam | 1.5 Hours | 100% |
| Supplementary Exam | 1.5 Hours | 100% |
|
Learning outcomes
On successful completion of this module students will have been introduced to game theoretic concepts and methods in analysing strategic behaviour, and appreciate their relevance in dealing with intera tive competition amongst firms when the behaviour of rivals must be accommodated.
Aims
This module aims to equip students with the basic models and techniques required to analyse and predict the behaviour of economic agents when there is strategic interaction between the choices they make, with particular reference to oligopoly analysis.
Brief description
This module provides an introduction to central concepts of non-cooperative game theory and illustrates their application to oligopoly.
Content
Introduction:
Oligopolistic Interdependence and Game Theory
Static (simultaneous move) Games
Dynamic (sequential move) Games
Repeated Games
Non-cooperative oligopoly models
Transferable skills
Apart from attaining and improving subject specific skills the module enables students to develop and enhance a variety of transferable skills. Attendance at lectures requires students to listen and digest material and take structured notes. Participation in tutorials involves prior preparation together with communication and presentation during class. The study sheets assist students in organising their thoughts, reading and preparation of notes and self-test accumulated knowledge as they progress through the module. All aspects of the module necessarily involve time management skills. The final examination requires rigorous preparation and assimulation of material prior to structured thought and essay writing within a fixed time period.
Reading Lists
Books
** Essential Reading
Carmichael, F (2005) A Guide to Game Theory
FT/Prentice Hall
** Recommended Text
Gibbons, R (1992) A Primer in Game Theory,
Harvester Wheatsheaf
Lipczynski, J, Wilson, J and Goddard, J (2005, 2e) Industrial Organization: Competition, Strategy, Policy,
FT/Prentice Hall
** Supplementary Text
Axelrod, R (1984) The Evolution of Co-operation,
Basic Books
Dixit, A K and Nalebuff, B (1991) Thinking Strategically,
Norton
Eaton, B C, Eaton, D F and Allen, D W (1999) Microeconomics,
Prentice Hall, Ch.15
Katz, M L and Rosen, H S (3e, 1998) Microeconomics,
McGraw Hill, Chs 14, 15 and 16
McMillan, J (1992) Games, Strategies and Managers,
Oxford University Press
Nasar, S (2001) A Beautiful Mind, (Biography of John Nash),
Faber and Faber
Nicholson, W (1998) Microeconomic Theory,
Dryden, Chs 10, 19 and 20
Rasmusen, E (2001) Readings in Games and Information,
Blackwell
Shelling, T C (1980) The Strategy of Conflict,
Harvard University Press
Notes
This module is at CQFW Level 6