EC220: Mathematical Economics 1A

Costas Cavounidis
Module Leader

15 CATS - Department of Economics

Summer Module

Autumn Module

Principal Aims

Mathematical Economics 1A, "Game Theory," is an introduction to the rigorous mathematical study of strategic interactions. Students will learn how game theorists model such interactions, and how those models can be analyzed. By the end of the module, they will have developed a formidable toolbox of game-theoretic techniques, and will be familiar with a variety of applications of these techniques to real-world situations, both economic and otherwise.

Principal Learning Outcomes

Subject Specific and Professional Skills:...demonstrate understanding of the tools of game theory, and the ability to apply them to wide classes of problems. The teaching and learning methods that enable students to achieve this learning outcome are: Lectures, seminars, guided reading and independent study. The summative assessment methods that measure the achievement of this learning outcome are: Tests and examination

Syllabus

The module will typically cover the following topics:Games in strategic form: Nash equilibrium and its applications to voting games, oligopoly, provision of public goods.Games in extensive form: sub game perfect equilibrium and its applications to voting games, repeated games.Static games with incomplete information: Bayesian equilibrium and its applications to auctions, contracts and mechanism design.Dynamic games of incomplete information: Perfect Bayesian equilibrium, Sequential equilibrium and its application to signalling games.Bargaining theory: Nash bargaining, non-cooperative bargaining with alternating offers and applications to economic markets.Evolutionary Game Theory

Context

Core Module

Y602 - Year 2, G300 - Year 2

Optional Core Module

GL11 - Year 2, GL12 - Year 2

Optional Module

L1P5 - Year 1, L1PA - Year 1, LM1D (LLD2) - Year 2, V7ML - Year 3, V7ML - Year 2, V7MM - Year 4, G100 - Year 2, G100 - Year 3, G103 - Year 2, G103 - Year 3, R9L1 - Year 4, R3L4 - Year 4, R4L1 - Year 4, R2L4 - Year 4, R1L4 - Year 4, L1L8 - Year 2, L1L8 - Year 3, LA99 - Year 2, LA99 - Year 3, L1CA - Year 2, R2L5 - Year 2, R4LA - Year 2, R1L5 - Year 2

Pre or Co-requisites

Any of:

EC106-24 Introduction to Economics OR

EC107-30 Economics 1 OR

EC109-30 Microeconomics 1 OR

EC137-15 Economics 1: Micro

AND

EC139-15 Mathematical Techniques A AND

EC122-15 Statistical Techniques A

EC140-15 Mathematical Techniques B AND

EC124-15 Statistical Techniques B AND

EC106 or EC107 for GL11 and other Maths students

Summary:

Modules: (EC106-30 or EC107-30 or EC109-30) and (EC139-15 and EC122-15) and (EC140-15 and EC124-15)

Assessment

Assessment Method: Coursework (20%) + In-person Examination (80%)
Coursework Details: In-person Examination (80%) , Test 1 (20%)
Exam Timing: Summer

Exam Rubric

Time Allowed: 2 Hours

Read all instructions carefully - and read through the entire paper at least once before you start entering your answers.

There is ONE section in this paper. Answer TWO questions only (50 marks each).

Answer each whole question in a separate booklet.

Approved scientific (non-graphical) pocket calculators are allowed.

You should not submit answers to more than the required number of questions. If you do, we will mark the questions in the order that they appear, up to the required number of questions in each section.

Previous exam papers can be found in the University’s past papers archive. Please note that previous exam papers may not have operated under the same exam rubric or assessment weightings as those for the current academic year. The content of past papers may also be different.