ECON13-301: Game Theory and Strategic Decision Making

Description

Game theory is a field of study that helps us understand decision making in strategic situations. In addition to being an important methodology within the economics discipline, it also gives insights into pricing and management strategies used by a business. Furthermore, game theory has wide-ranging applications in areas such as international relations, political science and military strategy. Much of game theory involves the interaction of decision makers where there is an asymmetry of information. Thus, the study of game theory can provide insights into how decision makers act when there is some important information that they cannot directly observe.

Subject details

Type: Undergraduate Subject
Code: ECON13-301
EFTSL: 0.125
Faculty: Bond Business School
Semesters offered:
  • January 2023 [Standard Offering]
Credit: 10
Study areas:
  • Business, Commerce, and Entrepreneurship
Subject fees:
  • Commencing in 2022: $3,950.00
  • Commencing in 2023: $4,050.00
  • Commencing in 2022: $5,260.00
  • Commencing in 2023: $5,400.00

Learning outcomes

  1. Demonstrate an understanding of games in pure and mixed strategies.
  2. Explain the game theoretic concepts of uncertainty, information and strategic moves.
  3. Explain the characteristics and application of repeated games and associated trigger strategies.
  4. Apply mechanism design to business applications such as pricing and project management.
  5. Critically analyse the various forms of game theoretic bargaining.

Enrolment requirements

Requisites:

Nil
Assumed knowledge:

Assumed knowledge is the minimum level of knowledge of a subject area that students are assumed to have acquired through previous study. It is the responsibility of students to ensure they meet the assumed knowledge expectations of the subject. Students who do not possess this prior knowledge are strongly recommended against enrolling and do so at their own risk. No concessions will be made for students’ lack of prior knowledge.

Assumed Prior Learning (or equivalent):

Possess demonstrable knowledge in algebra and calculus to the level of a unit such as STAT11-112 or STAT71-112.
Restrictions:

Subject outlines

Subject dates

  • Standard Offering
    Enrolment opens: 13/11/2022
    Semester start: 16/01/2023
    Subject start: 16/01/2023
    Cancellation 1: 30/01/2023
    Cancellation 2: 06/02/2023
    Last enrolment: 29/01/2023
    Withdraw - Financial: 11/02/2023
    Withdraw - Academic: 04/03/2023
    Teaching census: 10/02/2023
Standard Offering
Enrolment opens: 13/11/2022
Semester start: 16/01/2023
Subject start: 16/01/2023
Cancellation 1: 30/01/2023
Cancellation 2: 06/02/2023
Last enrolment: 29/01/2023
Withdraw - Financial: 11/02/2023
Withdraw - Academic: 04/03/2023
Teaching census: 10/02/2023