Game Theory and Economic Shocks (GRAE036)

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Course goals

The course aims to provide students an understanding of the concepts of game theory and its application in the context of economics, especially, when analysing the effects of external factors on the economic systems. Students will acquire skills needed to address fundamental issues as well as to solve practical challenges in economics through a combination of lectures, seminars and hands-on use of game theory in their project work. The work will focus on first laying and understanding the foundations on game theory and then looking at specific studies to understand how game theory is applied by researchers and how it can be used in practice.

Course results

  •  Students will learn to understand game theory research in the field of economics, how game theory can help to better understand economic processes, including reaction to shocks.
  • Students will learn to apply game theory tools for addressing economic issues whether theoretical or practical through a combination of small problems discussed in class and their own work.
  •  Students will develop and deliver a presentation of their project work, providing the skills needed to present results and implications game theory based research in practice.
  • Students will learn to prepare a research paper based on the application of game theory tools. The research paper will have to address an economic problem selected by students, thus, making it closer to the practical problems that students may face, including those outside academia.


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