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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 |
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Academic unit | Economics |
Credit points | 6 |
Prerequisites:
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ECOS2001 or ECOS2901 |
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Corequisites:
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None |
Prohibitions:
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ECOS3901 |
At the completion of this unit, you should be able to:
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