EC220-15 Mathematical Economics 1A
Introductory description
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.
Module aims
Mathematical Economics 1a, “Introduction to Game Theory”, aims to provide a basic understanding of pure game theory and also introduce the student to a number of applications of game theory to economic problems of resource allocation.
Outline syllabus
This is an indicative module outline only to give an indication of the sort of topics that may be covered. Actual sessions held may differ.
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
Learning outcomes
By the end of the module, students should be able to:
- 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
Indicative reading list
Please see Talis Aspire link for most up to date list.
View reading list on Talis Aspire
Subject specific skills
Students will have the opportunity to develop skills in:
Analytical thinking and communication
Analytical reasoning
Critical thinking
Strategic thinking
Problem-solving
Abstraction
Policy evaluation
Analysis of incentives
Concepts of Simultaneity and Endogeneity
Analysis of optimisation
Understanding of Uncertainty and Incomplete Information
Transferable skills
Students will have the opportunity to develop:
Numeracy and quantitative skills
Written communication skills
Oral communication skills
Mathematical, statistical and data-based research skills
Study time
| Type | Required |
|---|---|
| Lectures | 20 sessions of 1 hour (13%) |
| Seminars | 5 sessions of 1 hour (3%) |
| Private study | 125 hours (83%) |
| Total | 150 hours |
Private study description
Private study will be required in order to prepare for seminars/classes, to review lecture notes, to prepare for forthcoming assessments, tests, and exams, and to undertake wider reading around the subject.
Costs
No further costs have been identified for this module.
You do not need to pass all assessment components to pass the module.
Students can register for this module without taking any assessment.
Assessment group DA
| Weighting | Study time | |
|---|---|---|
| Test 1 | 20% | |
|
50 minute in class test |
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| Online Examination | 80% | |
|
A paper which examines the course content and ensures learning outcomes are achieved.
|
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Feedback on assessment
The Department of Economics is committed to providing high quality and timely feedback to students on their assessed work, to enable them to review and continuously improve their work. We are dedicated to ensuring feedback is returned to students within 20 University working days of their assessment deadline. Feedback for assignments is returned either on a standardised assessment feedback cover sheet which gives information both by tick boxes and by free comments or via free text comments on tabula, together with the annotated assignment. For tests and problem sets, students receive solutions as an important form of feedback and their marked assignment, with a breakdown of marks and comments by question and sub-question. Students are informed how to access their feedback, either by collecting from the Undergraduate Office or via tabula. Module leaders often provide generic feedback for the cohort outlining what was done well, less well, and what was expected on the assignment and any other common themes. This feedback also includes a cumulative distribution function with summary statistics so students can review their performance in relation to the cohort. This feedback is in addition to the individual-specific feedback on assessment performance.
Pre-requisites
EC120 or EC107 for GL11 students
EC120 = EITHER (EC121+EC122+EC125) OR (EC123+EC124+EC125)
To take this module, you must have passed:
Post-requisite modules
If you pass this module, you can take:
- EC301-15 Mathematical Economics 2: Dynamics, Uncertainty & Asymmetrical Information
- EC341-15 Mathematical Economics 2: Mechanism Design and Alternative Games
- EC334-15 Topics in Financial Economics: Corporate Finance and Markets
- EC331-30 Research in Applied Economics
- EC331-30 Research in Applied Economics
Courses
This module is Core optional for:
- Year 2 of UMAA-GL11 Undergraduate Mathematics and Economics
- Year 2 of UECA-GL12 Undergraduate Mathematics and Economics (with Intercalated Year)
This module is Optional for:
-
TECA-L1PA Postgraduate Taught Economics (Diploma plus MSc)
- Year 1 of L1PA Economics (Diploma plus MSc)
- Year 1 of L1PA Economics (Diploma plus MSc)
- Year 2 of L1PA Economics (Diploma plus MSc)
- Year 2 of L1PA Economics (Diploma plus MSc)
-
UECA-3 Undergraduate Economics 3 Year Variants
- Year 2 of L100 Economics
- Year 2 of L100 Economics
- Year 2 of L100 Economics
- Year 2 of L116 Economics and Industrial Organization
- Year 2 of L116 Economics and Industrial Organization
-
UECA-4 Undergraduate Economics 4 Year Variants
- Year 2 of LM1H Economics, Politics & International Studies with Study Abroad
- Year 2 of LM1H Economics, Politics & International Studies with Study Abroad
- Year 4 of LM1H Economics, Politics & International Studies with Study Abroad
- Year 4 of LM1H Economics, Politics & International Studies with Study Abroad
-
UECA-LM1D Undergraduate Economics, Politics and International Studies
- Year 2 of LM1D Economics, Politics and International Studies
- Year 2 of LM1D Economics, Politics and International Studies
- Year 3 of UMAA-GL11 Undergraduate Mathematics and Economics
- Year 4 of UECA-GL12 Undergraduate Mathematics and Economics (with Intercalated Year)
-
UPHA-V7ML Undergraduate Philosophy, Politics and Economics
- Year 2 of V7ML Philosophy, Politics and Economics (Tripartite)
- Year 2 of V7ML Philosophy, Politics and Economics (Tripartite)
- Year 2 of V7ML Philosophy, Politics and Economics (Tripartite)
-
UPHA-V7MM Undergraduate Philosophy, Politics and Economics (with Intercalated year)
- Year 4 of V7MQ Philosophy, Politics and Economics (Bipartite) with Intercalated Year
- Year 4 of V7MH Philosophy, Politics and Economics - Economics/Philosophy Bipartite (Economics Major) (with Intercalated year)
- Year 4 of V7MI Philosophy, Politics and Economics - Philosophy/Economics Bipartite (Philosophy Major) (with Intercalated year)
- Year 4 of V7MJ Philosophy, Politics and Economics - Philosophy/Politics Bipartite (with Intercalated year)
- Year 4 of V7MG Philosophy, Politics and Economics - Politics/Economics Bipartite (Politics Major) (with Intercalated year)
This module is Option list B for:
-
UMAA-G105 Undergraduate Master of Mathematics (with Intercalated Year)
- Year 2 of G105 Mathematics (MMath) with Intercalated Year
- Year 3 of G105 Mathematics (MMath) with Intercalated Year
- Year 5 of G105 Mathematics (MMath) with Intercalated Year
-
UMAA-G100 Undergraduate Mathematics (BSc)
- Year 2 of G100 Mathematics
- Year 2 of G100 Mathematics
- Year 2 of G100 Mathematics
- Year 3 of G100 Mathematics
- Year 3 of G100 Mathematics
- Year 3 of G100 Mathematics
-
UMAA-G103 Undergraduate Mathematics (MMath)
- Year 2 of G100 Mathematics
- Year 2 of G103 Mathematics (MMath)
- Year 2 of G103 Mathematics (MMath)
- Year 3 of G100 Mathematics
- Year 3 of G103 Mathematics (MMath)
- Year 3 of G103 Mathematics (MMath)
- Year 4 of G103 Mathematics (MMath)
- Year 4 of G103 Mathematics (MMath)
-
UMAA-G106 Undergraduate Mathematics (MMath) with Study in Europe
- Year 2 of G106 Mathematics (MMath) with Study in Europe
- Year 3 of G106 Mathematics (MMath) with Study in Europe
- Year 4 of G106 Mathematics (MMath) with Study in Europe
- Year 2 of UMAA-G1NC Undergraduate Mathematics and Business Studies
- Year 2 of UMAA-G1N2 Undergraduate Mathematics and Business Studies (with Intercalated Year)
-
UMAA-G101 Undergraduate Mathematics with Intercalated Year
- Year 2 of G101 Mathematics with Intercalated Year
- Year 4 of G101 Mathematics with Intercalated Year