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Unit of study_

ECOS3012: Strategic Behaviour

To think and act strategically, one needs to evaluate the effect of one's actions on the actions of others. As most economic decisions are strategic, such as the decision to lower a price or introduce a new tax, economics, if it is to avoid simplistic models, requires a theoretical framework capable of illuminating strategic behaviour. This unit offers a comprehensive, critical introduction to the theory which purports, not only to satisfy this theoretical need, but also potentially to unify the social sciences: game theory. After examining important concepts of game theory, the unit investigates the repercussions for the theory of bargaining and for the evolution of social institutions.

Code ECOS3012
Academic unit Economics
Credit points 6
Prerequisites:
? 
ECOS2001 or ECOS2901
Corequisites:
? 
None
Prohibitions:
? 
ECOS3901

At the completion of this unit, you should be able to:

  • LO1. design optimal strategies and make rational predictions in social and business interactions
  • LO2. examine important concepts of game theory