Module Identifier EC30110  
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 TypeAssessment Length/DetailsProportion
Semester Exam1.5 Hours  100%
Supplementary Exam1.5 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.


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.



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

** 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


This module is at CQFW Level 6