ECON 409 - Game Theory
Section: 001
Term: FA 2017
Subject: Economics (ECON)
Department: LSA Economics
Requirements & Distribution:
Enforced Prerequisites:
ECON 401 (completed with a minimum grade of C- or better); OR Graduate Standing.
Advisory Prerequisites:
MATH 215.
This course counts toward the 60 credits of math/science required for a Bachelor of Science degree.
May not be repeated for credit.
Primary Instructor:

Game theory is the study of strategic interactions, where economic agents ("players" in a "game") affect each other through their actions, and make their decisions in light of what others are likely to choose. One fundamental puzzle in game theory is how players can cooperate when each of them faces an incentive to cheat the others. Why would a producer exert effort to produce a quality product if the consumer cannot verify the quality until after purchase? Why would people contribute time and effort to community projects when they could relax and let others do the work? More questions arises from games of conflict, where one player wins only if others lose. How can we predict who will win? Yet more questions arise from games of coordination, where the players agree on which outcomes are good but don't necessarily know how to obtain them. When should we expect players to coordinate successfully? Game theory provides a unified framework for addressing these questions. By formalizing the situations that players face, we can trace the logical implications of our assumptions on players' preferences, beliefs, and methods of reasoning.

Course Requirements:

In this advanced course, students should be comfortable with rigorous definitions, logical reasoning, probabilities, and optimization using calculus.

Intended Audience:

Game theory is a core tool of modern economics, and also yields useful insights into business strategy, political science, computer science, sociology, biology, and other fields.

Class Format:

Evaluations will be based on exams, quizzes, and participation in lectures, discussion sections, and the course website.

ECON 409 - Game Theory
Schedule Listing
001 (LEC)
MW 2:30PM - 4:00PM
002 (DIS)
Th 5:30PM - 6:30PM
003 (DIS)
F 11:00AM - 12:00PM
NOTE: Data maintained by department in Wolverine Access. If no textbooks are listed below, check with the department.

ISBN: 9780393918380
Strategy : an introduction to game theory, Author: Joel Watson, University of California, San Diego., Publisher: W.W. Norton Third Edit 2013
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