ECON 2240 A (CRN: 15312)
Economics: Game Theory
3 Credit Hours—Seats Available!
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About ECON 2240 A
Formal analysis of strategic interactions, in which decisions are based on the possible reactions of others, with applications to business, politics, and human relationships. Prerequisites: ECON 1400, ECON 1450.
Notes
Prereqs enforced by the system: ECON 1400 and 1450. PACE students with permission and override.
Section Description
Game theory analyzes situations in which the outcome depends not just on your own decision but on other people’s decisions as well. In these situations it is necessary to think strategically—choose the best action with the awareness that others are trying to outsmart you in the same way. We will systematically analyze many types of “games,” with examples drawn from business, politics and human relationships. At the end of the course students will be able to 1. Solve a variety of games by predicting what each player will do and what the outcome might be 2. Determine if a game has one or more stable solutions (Nash equilibria) 3. Capture an interactive situation in an appropriate game 4. Propose strategic techniques for improving the game outcome in a player’s favor
Evaluation
In-class work; homework assignments; midterm exam; cumulative final exam
Important Dates
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