A hands-on module utilising experimental activities to interactively demonstrate how game theory and behavioural economics can shed light on significant economic and social issues. This module introduces you to the exciting fields of game theory, experimental economics, and behavioural economics, providing you with the essential tools to analyse individual and organisational interactions in economics, politics, and other social sciences. The module is structured to offer you strategic insights into the processes of decision-making and interaction within these areas. By integrating theoretical implications with experimental exercises, the module provides students with a comprehensive and engaging understanding of fundamental economic concepts, rendering these concepts accessible and applicable to real-life situations. You will explore key topics such as the dynamics of market interactions, the common problems of principal-agent relationships, and the challenges of collective actions within economic contexts. The emphasis throughout the module lies in enhancing your abilities and critical reflection to effectively tackle these challenges, particularly in the context of strategic decision-making in the real world.
Lectures 16, PC Labs 16
Report. Assessment Details: 2000 words Laboratory Report worth 50%.
Report. Assessment Details: 2000 words Technical Report worth 50%.
Reassessment Method: Single instrument. 100% Written Assessment – 2000 word Technical Report.
On successfully completing the module, students will be able to:
1) Demonstrate knowledge and understanding of the basic principles of game theory.
2) Describe how game theory and experiments can be applied to real world phenomena.
3) Apply economic concepts pertinent to games and/or experiments
4) Predict and model decision-making processes using game theory methods and tools.
5) Evaluate economic behaviour and phenomena using a game theoretical approach.
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