Undergraduate TAS-BEA104-2023

Game Theory for Business and Social Sciences

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Duration

14 weeks

Study method

100% Online

Available loans

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Assessments

100% online

Prior study

Not required

Start dates

10 Jul 2023

Australia’s fourth oldest university, the University of Tasmania, is highly regarded internationally for teaching and academic excellence. The university offers more than 100 undergraduate degrees and more than 50 postgraduate programs across a range of disciplines. The university offers students a diverse range of opportunities, the chance to learn from leading experts, and excellent preparation for their future careers.

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2023

Subject details

What you'll learn

Upon completion of this subject, the student should be able to:

Identify strategic interaction in a variety of settings and formally model them as games.
Apply game theory as an analytical tool to solve the games with an aim to predict outcomes.
Evaluate the application of game theoretic models/analysis and provide solutions for problems faced by business managers and policy makers.
Communicate economic analysis and arguments in both written and oral forms.

Topics covered

- Modelling Strategic Interactions: What is a Game? Basic Rules & Examples
- Sequential Strategic Games
- Simultaneous Strategic Games I: Dominance, Best Response and Nash Equilibrium
- Simultaneous Strategic Games II: Mixed Strategies
- Communication and Strategic Moves
- Uncertainty I: Risk.
- Uncertainty II: Asymmetric Information
- Repeated Games
- Collective Action Games
- Mechanism Design
- Bargaining and Negotiations
- Auctions
- Wrap Up

Entry requirements

No eligibility requirements

Additional requirements

No additional requirements

Description

In both our personal and work lives we regularly encounter 'games': that is, situations where our actions affect the others we interact with, and vice versa. Game Theory provides a framework to discuss and analyse these types of strategic interactions. It provides a modern language to important issues in business, economics, political science, sociology, philosophy and ethics, socio-biology and law. In this subject, you will be introduced to the central elements of game theory. You will learn about thinking strategically and its benefits in a variety of strategic settings and for many different applications. We will discuss how people might be expected to act in a variety of games and identify the best response to that behaviour.

Assessments