ECONS306-19B (HAM)

Economics and Strategic Interaction

15 Points

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Division of Management
School of Accounting, Finance and Economics

Staff

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Convenor(s)

Steven Tucker

Steven Tucker
9299
MSB.2.12
B semester: Tuesday 13:00 - 14:00 or by appointment
steven.tucker@waikato.ac.nz

Lecturer(s)

Administrator(s)

: denise.martin@waikato.ac.nz

Placement Coordinator(s)

Tutor(s)

Student Representative(s)

Lab Technician(s)

Librarian(s)

: clive.wilkinson@waikato.ac.nz

You can contact staff by:

  • Calling +64 7 838 4466 select option 1, then enter the extension.
  • Extensions starting with 4, 5, 9 or 3 can also be direct dialled:
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Paper Description

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The aim of this paper is to provide an introduction to strategic thinking and analysis through the basic techniques of game theory, and to illustrate the range of its applications to almost all fields of social science via a wide array of example applications. In addition to the introduction of game theoretic concepts, we will discuss experimental results for at least some of them to provide insights on when neoclassical models are empirically supported and when a behavioural game theoretic approach may be more applicable. This in turn will give the students exposure to experimental economics methods.

The development of game theory over the last 60 years is an important theme in social sciences and policy-oriented research. For example, it has proven extremely valuable for analyzing problems in economics and finance, in environmental issues, in business strategy, law, international relations, political science, etc. Since the Nobel Prize in 1996 awarded to Nash/Selten/Harsanyi, almost 50% of the Nobel Prize topics in economics employ elements of game theory.

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Paper Structure

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The paper will be taught through lectures and the use of demonstration experiments on selected topics.
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Learning Outcomes

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Students who successfully complete the course should be able to:

  • 1. Able to identify situations of strategic interaction.
    Linked to the following assessments:
  • 2. Develop a well-defined game from a situation of strategic interaction.
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  • 3. Able to choose appropriate solution concepts to analyse and solve a wide variety of strategic interactions.
    Linked to the following assessments:
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Assessment

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This paper is 100% internally assessed. There is no final examination for this paper.
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Assessment Components

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The internal assessment/exam ratio (as stated in the University Calendar) is 100:0. There is no final exam. The final exam makes up 0% of the overall mark.

The internal assessment/exam ratio (as stated in the University Calendar) is 100:0 or 0:0, whichever is more favourable for the student. The final exam makes up either 0% or 0% of the overall mark.

Component DescriptionDue Date TimePercentage of overall markSubmission MethodCompulsory
1. Test 1
14 Aug 2019
2:00 PM
33
  • Hand-in: In Lecture
2. Test 2
9 Oct 2019
2:00 PM
33
  • Hand-in: In Lecture
3. Group Project
25 Oct 2019
12:00 PM
24
  • Online: Submit through Moodle
4. Problem Sets
10
  • Online: Submit through Moodle
Assessment Total:     100    
Failing to complete a compulsory assessment component of a paper will result in an IC grade
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Required and Recommended Readings

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Required Readings

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Link to the University of Waikato Reading List:

The sole required text for this course is:

Joel Watson, "Strategy, An Introduction to Game Theory" 2013 Norton.

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Other Resources

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Online Support

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All course materials and information is available via Moodle.
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Workload

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This is a 15 point paper. The expected workload per point is 10 hours of work. Therefore, the expected total workload for the paper is 150 hours.
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Linkages to Other Papers

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Prerequisite(s)

Prerequisite papers: ECON100 or ECON110 or ECONS101 or ECONS102

Corequisite(s)

Equivalent(s)

Restriction(s)

Restricted papers: ECON314, ECON414 and ECONS203

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