This course introduces to students the basics of game theory relevant to economic analysis and their applications in various fields of business and economics.
Topics include: static games of complete information and Nash equilibrium; dynamic games of complete information and subgame-perfect Nash equilibrium; static games of incomplete information and Bayesian Nash equilibrium; dynamic games of incomplete information, perfect Bayesian equilibrium and its refinements; applications of game theory in business and economics.
Intended Learning Outcomes
CILO-1: After completion of this course, students will be able to apply game theory to analyze conflict dynamics from the standpoints of rationality and the self-interests of the participants. They should be able to formulate their strategies taking into account the actions of the other players. At the same time, they could be able to utilize such skill to conduct analyses on contemporary economic issues, such as the trade conflicts between economies.