ECONS306-22B (HAM)

Economics and Strategic Interaction

15 Points

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Division of Management
School of Accounting, Finance and Economics

Staff

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Convenor(s)

Lecturer(s)

Administrator(s)

: denise.martin@waikato.ac.nz

Placement/WIL Coordinator(s)

Tutor(s)

: sandamali.wijayarathne@waikato.ac.nz

Student Representative(s)

Lab Technician(s)

Librarian(s)

: yilan.chen@waikato.ac.nz

You can contact staff by:

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Paper Description

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The aim of this paper is to provide an introduction to strategic thinking and analysis through the basic techniques of game theory, and to illustrate the range of its applications to almost all fields of social science via a wide array of example applications. In addition to the introduction of game theoretic concepts, we will discuss experimental results for at least some of them to provide insights on when neoclassical models are empirically supported and when a behavioural game theoretic approach may be more applicable. This in turn will give the students exposure to experimental economics methods.

The development of game theory over the last 60 years is an important theme in social sciences and policy-oriented research. For example, it has proven extremely valuable for analyzing problems in economics and finance, in environmental issues, in business strategy, law, international relations, political science, etc. Since the Nobel Prize in 1996 awarded to Nash/Selten/Harsanyi, almost 50% of the Nobel Prize topics in economics employ elements of game theory.

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Paper Structure

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This paper is taught through a series of lectures in which we will work through the various game theoretic concepts via discussion and interaction in experiment demonstrations to provide first hand experiences of the concepts.

In order to promote class participation and to provide immediate in-class feedback about specific concepts, we will use the Xorro-Q student response system. To participate, students will need an internet capable device (e.g. laptop, smartphone, tablet). The lecture rooms are Wi-Fi enabled and there are no data charges for accessing the Xorro-Q website on campus. Instructions on how to register with and use Xorro-Q will be provided in class

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Learning Outcomes

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Students who successfully complete the paper should be able to:

  • 1. Able to identify situations of strategic interaction.
    Linked to the following assessments:
  • 2. Develop a well-defined game from a situation of strategic interaction.
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  • 3. Able to choose appropriate solution concepts to analyse and solve a wide variety of strategic interactions.
    Linked to the following assessments:
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Assessment

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Assessment Components

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The internal assessment/exam ratio (as stated in the University Calendar) is 100:0. There is no final exam. The final exam makes up 0% of the overall mark.

The internal assessment/exam ratio (as stated in the University Calendar) is 100:0 or 0:0, whichever is more favourable for the student. The final exam makes up either 0% or 0% of the overall mark.

Component DescriptionDue Date TimePercentage of overall markSubmission MethodCompulsory
1. Test 1
24 Aug 2022
2:00 PM
33
  • In Class: In Lecture
2. Test 2
19 Oct 2022
2:00 PM
33
  • In Class: In Lecture
3. Project
4 Nov 2022
12:00 PM
24
  • Online: Submit through Moodle
4. Experiment Demonstration Participation
10
  • Other: In class experiment demonstration participation
Assessment Total:     100    
Failing to complete a compulsory assessment component of a paper will result in an IC grade
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Required and Recommended Readings

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Required Readings

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The sole required text for this course is:

Joel Watson, "Strategy, An Introduction to Game Theory" 2013 Norton.

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Other Resources

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Specify any other resources that students will benefit from accessing. You may like to include other learning resources such as online recordings etc.
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Online Support

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All course materials and information is available via Moodle.
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Workload

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This is a 15 point paper. The expected workload per point is 10 hours of work. Therefore, the expected total workload for the paper is 150 hours.
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Linkages to Other Papers

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Prerequisite(s)

Prerequisite papers: ECON100 or ECON110 or ECONS101 or ECONS102

Corequisite(s)

Equivalent(s)

Restriction(s)

Restricted papers: ECON314, ECON414 and ECONS203

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