Duration
30h Th
Number of credits
| Master in economics : general (120 ECTS) | 4 crédits | |||
| Master in economics : general (60 ECTS) | 5 crédits |
Lecturer
Language(s) of instruction
English language
Organisation and examination
Teaching in the first semester, review in January
Schedule
Units courses prerequisite and corequisite
Prerequisite or corequisite units are presented within each program
Learning unit contents
The course of Games and Information Economics focuses on these three key concepts of modern economics: incentives, information and strategic interactions. The objectives of the course are twofold: First, it develops analytical tools to understand strategic interaction between agents. Second, the course abundantly illustrates the main theoretical concepts with real-world examples and applications from economics, finance, politics, sport etc. During this course, we will explore frontier concepts of modern economics and their applications.
The course is organized in 22 modules: Theory (T), Applications (A) and exercises (E).
-Theory (7 modules)
Formalization of games
Equilibrium concepts
-Applications (10 modules)
To economics but not only
-Exercises (5 modules)
With the teaching assistant
List of modules
1.A short history of game theory (T)
2. Think strategically: bidding on eBay (A)
3. The prisoner's dilemma and dominant strategies (T)
4.Situations of conflict and Nash Equilibrium (T)
5. Nash equilibrium (A)
5.1 Oligopolies, 5.2 Political platforms, 5.3 The tragedy of commons
6. Nash equilibrium (E)
7.Mixed strategies (T)
8. Ronaldo vs Messi (A)
9.Mixed strategies (E)
10.Subgame perfect outcome (A)
10.1 Oligopoly, 10.2 Bargaining, 10.3 Bank runs
11. Subgame perfect outcome (E)
12. Repeated games (A)
12.1 Efficiency wage, 12. 2 Collusion
13. Subgame perfect equilibrium (T)
14. Ultimatum game eand experiments (A & E)
15. Bayesian Games (T)
16. Auctions (A)
17. Bayesian games (E)
18. Signaling games (T)
19.Market for lemons (A)
20. Open source software (A)
21. Signaling games (E)
22. Moral hazard (A)
Learning outcomes of the learning unit
Understanding the basic concepts of game theory (strategies, Nash equilibrium...)
Be able to use the game theory toolkit to analyze real-world economic problems
Prerequisite knowledge and skills
Basic knowledge of single variable calculus and probability.
Planned learning activities and teaching methods
Class from 2pm to 5 pm on Wednesday
Classes will be a mix of teaching (3/4) and exercices sessions (1/4)
Additional illustrative material: books, videos, articles will be provided
Mode of delivery (face to face, distance learning, hybrid learning)
Face-to-face course
Additional information:
Live teaching
Recommended or required readings
Main reference
A Primer in Game Theory
R. Gibbons
1992
Pearson Education (FT)
Written exam
Work placement(s)
Organisational remarks and main changes to the course
This course will be given in English
Contacts
Lecturer: Axel GAUTIER
Email: agautier@uliege.be
Office 1/9, BAT N3a
Tel: 04/366.30.53
Assistant: Michel Coppée
Email: michel.coppee@uliege.be