Strategic Behaviour (ECOS3012)

UNIT OF STUDY

To think and act strategically, one needs to evaluate the effect of one's actions on the actions of others. As most economic decisions are strategic, such as the decision to lower a price or introduce a new tax, economics, if it is to avoid simplistic models, requires a theoretical framework capable of illuminating strategic behaviour. This unit offers a comprehensive, critical introduction to the theory which purports, not only to satisfy this theoretical need, but also potentially to unify the social sciences: game theory. After examining important concepts of game theory, the unit investigates the repercussions for the theory of bargaining and for the evolution of social institutions.

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Further unit of study information

Classes

1x2-hr lecture/week, 1x1-hr tutorial/fortnight

Assessment

mid-semester test (35%), online quizzes (20%) and 2hr final exam (45%)

Faculty/department permission required?

No

Unit of study rules

Prerequisites and assumed knowledge

ECOS2001 or ECON2001 or ECOS2901 or ECON2901

Prohibitions

ECON3012, ECOS3901

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Cross-institutional study

If you are from another Australian tertiary institution you may be permitted to underake cross-institutional study in one or more units of study at the University of Sydney.

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