ECON3055 Games and Economic Decisions (3 units)
- CHSE1005 Essentials of Economics or ECON1005 Principles of Economics I or ECON1007 Basic Economic Principles
- Medium of Instruction:
Game theory is a systematic way of studying strategic situations, in which each decision-maker’s behaviour affects the well-being of other decision-makers. This course introduces the basic tools for decision-making in such strategic situations. Basic concepts such as dominance, Nash equilibrium, backward induction, commitment, credibility, signalling will be covered. This course adopts a practical approach, in which conceptual analysis real-world examples and applications, particularly strategies in digital economics such as two-sided markets, platform competition will be emphasized. Interactive Internet-based games or economic experiments will be conducted in class. Reliance on mathematics will be kept to essential level. This approach aims to develop students’ conceptual understanding, enhance their application ability and, most importantly, nurture their game-awareness and take steps to change the game to their strategic advantage.
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