Game Theory

The course is an intermediate course in Microeconomics. The course takes an analytical approach to study microeconomics. It intends to develop rigorous, logical reasoning to understand economic concepts. While a majority of the economic theories are treated verbally and graphically, simple models based on elementary calculus are also introduced to examine certain economic issues in detail. Topics include pricing analyses of competitive and non-competitive markets, market power, game theory and its application in analyzing imperfect competition and information problems, and market failure.

Language of instruction is English.

The course builds on the introductory course ØASØK1000 Microeconomics I.

None

After completing the course, the student should have the following overall learning outcomes defined in terms of knowledge, skills and general competence:

Knowledge

The student has knowledge of

• the basic economic theories explaining the behaviors of consumers and firms
• the market structure
• the economics of information
• game theory in analyzing strategic behaviour
• the applications of behavioral economics

Skills

The student can

• use economic concepts to explain consumer and firm behaviour
• use economic reasoning to discuss economic policies
• formulate and analyze strategic interactions

General competence

The student can

• develop insights to critically address economic issues
• engage in analytical discussions of economic policies

The course is a mix of lectures and seminars.

The following coursework requirements must have been approved for the student to take the exam:

• Coursework 1: Written submission (5-10 pages) which is carried out in groups of two or individually.

All required coursework must be completed and approved by the given deadline for the student to take the exam. If the coursework requirements have not been approved, the student will be given one opportunity to submit an improved version by a given deadline.

The exam in the course is a supervised exam of 4 hours.

The following aids are permitted:

• One dictionary (native language-English/English-native language or English-English).
• Calculator (see regulations for the use of calculators in the programme description)

Grade scale A - F

The exam papers are assessed by one internal and one external examiner.

At least 25% of the exam papers will be assessed by two examiners. The grades awarded for the papers assessed by two examiners form the basis for determining the level for all the exam papers.

Jacopo Bizzotto

Simen Ulsaker