Accessibility Skip to Global Navigation Skip to Local Navigation Skip to Content Skip to Search Skip to Site Map Menu

ECON351 Special Topic: Game Theory

Do you get a good deal when you purchase a TV from a store that gives a "lowest price guarantee" or when you reserve a hotel room through an online travel agency (such as Expedia) that promises to refund you the difference when your hotel is booked for a lower price later? If you want to understand the forces at play in these situations, then you need to understand strategic interaction.

No firm, government or person operates in a vacuum. The actions that we take do not only have direct consequences, but they may also have indirect consequences because others react to them and change their behaviour in response. If we recognise this, then we may attempt to influence the actions taken by others in a way that works to our advantage. That is, we engage in strategic thinking.

This paper provides an introduction to strategic thinking, and when you take it, you will learn to recognise and analyse strategic situations. The applicability of this methodology is unlimited, and the paper will touch on many potential applications, which include business pricing, auctions and political decision making.

Paper title Special Topic: Game Theory
Paper code ECON351
Subject Economics
EFTS 0.1500
Points 18 points
Teaching period Second Semester
Domestic Tuition Fees (NZD) $813.45
International Tuition Fees Tuition Fees for international students are elsewhere on this website.

^ Top of page

Prerequisite
ECON 201 or ECON 271
Schedule C
Arts and Music, Commerce, Science
Learning Outcomes
Students who successfully complete ECON 351 should be able to
  • Demonstrate an understanding of a variety of game theoretic methods of analysing behaviour in strategic situations
  • Apply that understanding to predict behaviour and evaluate business and policy options
  • Appreciate the impact that game theory has made, and continues to make, in a variety of contexts
Graduate Attributes Emphasised
Lifelong learning, Critical thinking, Scholarship, Information literacy, Self-motivation.
View more information about Otago's graduate attributes.
Contact
economics@otago.ac.nz
Textbooks
Harrington, J.E. (2014) Games, Strategies, and Decision Making (2nd ed.), Worth (ISBN 978-1429239967).
Teaching staff
Assoc Prof Paul Hansen, Dr Trent Smith, Dr Murat Genc and Dr Dennis Wesselbaum

^ Top of page

Timetable

Second Semester

Location
Dunedin
Teaching method
This paper is taught On Campus
Learning management system
None

Lecture

Stream Days Times Weeks
Attend
L1 Tuesday 14:00-14:50 31-34, 36-41
Wednesday 08:00-08:50 28-30, 37
Wednesday 11:00-11:50 28-34, 36-41
Friday 11:00-11:50 28-34, 36-41

Do you get a good deal when you purchase a TV from a store that gives a ÔÇ£lowest price guaranteeÔÇØ or when you reserve a hotel room through an online travel agency that promises to refund you the difference when your hotel is booked for a lower price later? If you want to understand the forces at play in these situations, then you need to understand strategic interaction.
No firm, government or person operates in a vacuum. The action that someone takes may not only have consequences for herself, but also for others, and vice versa. On the one hand we need to form beliefs about actions taken by others in order to know what action to choose oneself. On the other hand, we may influence decisions taken by others via our own decisions. That is, we engage in strategic thinking.
This paper provides an introduction to strategic thinking, and when you take it, you will learn to recognise and analyse strategic situations.

Paper title Special Topic: Game Theory
Paper code ECON351
Subject Economics
EFTS 0.1500
Points 18 points
Teaching period Second Semester
Domestic Tuition Fees (NZD) $829.65
International Tuition Fees Tuition Fees for international students are elsewhere on this website.

^ Top of page

Prerequisite
ECON 201 or ECON 271
Schedule C
Arts and Music, Commerce, Science
Contact
economics@otago.ac.nz
Teaching staff
Ronald Peeters
Textbooks
Harrington J.E. (2014). Games, Strategies, and Decision Making (2nd ed.). Worth Publishers, New York. (ISBN 978-1429239967).
Graduate Attributes Emphasised
Lifelong learning, Critical thinking, Scholarship, Information literacy, Self-motivation.
View more information about Otago's graduate attributes.
Learning Outcomes
Students who successfully complete ECON 351 should be able to:
  • Demonstrate an understanding of a variety of game theoretic methods of analysing behaviour in strategic situations
  • Apply that understanding to predict behaviour and evaluate business and policy options
  • Reflect on game theoretical methods from a multi-disciplinary perspective
  • Appreciate the impact that game theory has made, and continues to make, in a variety of contexts

^ Top of page

Timetable

Second Semester

Location
Dunedin
Teaching method
This paper is taught On Campus
Learning management system
None

Lecture

Stream Days Times Weeks
Attend
L1 Tuesday 10:00-10:50 28-34, 36-41
Wednesday 10:00-10:50 28-34, 36-41
Friday 11:00-11:50 28-34, 36-41

Tutorial

Stream Days Times Weeks
Attend one stream from
T1 Thursday 12:00-12:50 28-34, 36-41
T2 Friday 09:00-09:50 28-34, 36-41