FACULTY OF BUSINESS

Department of Economics

ECON 418 | Course Introduction and Application Information

Course Name
Game Theory
Code
Semester
Theory
(hour/week)
Application/Lab
(hour/week)
Local Credits
ECTS
ECON 418
Fall/Spring
3
0
3
6

Prerequisites
  ECON 100 To succeed (To get a grade of at least DD)
or ECON 101 To succeed (To get a grade of at least DD)
or ECON 102 To succeed (To get a grade of at least DD)
or GEEC 203 To succeed (To get a grade of at least DD)
Course Language
English
Course Type
Elective
Course Level
First Cycle
Mode of Delivery -
Teaching Methods and Techniques of the Course -
Course Coordinator -
Course Lecturer(s)
Assistant(s) -
Course Objectives The course aims to empower the student with the ability to analyze a problem regarding the Game Theory by making use of scientific economic tools, and offer policy proposals.Students are also expected to be able to scientifically criticize an article appearing in a newspaper or any other news media after taking this course or during the semester, not necessarily for exam purposes. That will prepare the student for the evercompetitive job market by helping them gain critical thinking in the scientific methodology.
Learning Outcomes The students who succeeded in this course;
  • Will be able to explain the main equilibrium concepts of game theory like Nash equilibrium, iterated elimination of strictly dominated strategies, subgame perfect equilbirium, backwards induction.
  • Will be able to infer possible outcomes of static and dynamic games.
  • Will be able to model the strategic interaction of firms in oligopolistic market structures in the scope of game theory.
  • Will be able to estimate the results of strategic interaction of firms in oligopolistic market structures in the scope of game theory.
  • Will be able to explain the auction theory and its implications.
Course Description The course covers the analysis of strategic behaviors in everyday life. Most of the times, people and firms are in competition and have to behave strategically to maintain their best interests. Behaving strategically means that an agent must accept other’s existence and consider their decisions as well when deciding. Our best interest may harm others whom we are living with. The merit is to find a (the) best solution maximizing the utility under given conditions.

 



Course Category

Core Courses
Major Area Courses
X
Supportive Courses
Media and Management Skills Courses
Transferable Skill Courses

 

WEEKLY SUBJECTS AND RELATED PREPARATION STUDIES

Week Subjects Related Preparation
1 Introduction to Game Theory
2 Static games with complete information Game Theory for Applied Economists Chp:1
3 Static games with complete information Game Theory for Applied Economists Chp:1
4 Static games with complete information Game Theory for Applied Economists Chp:1
5 Static games with complete information Game Theory for Applied Economists Chp:1
6 Midterm 1
7 Dynamic games with complete Information Game Theory for Applied Economists Chp:2
8 Dynamic games with complete Information Game Theory for Applied Economists Chp:2
9 Static games with incomplete information Game Theory for Applied Economists Chp:3
10 Static games with incomplete information Game Theory for Applied Economists Chp:3
11 Static games with incomplete information Game Theory for Applied Economists Chp:3
12 Midterm 2
13 Dynamic games with incomplete information Game Theory for Applied Economists Chp:4
14 Dynamic games with incomplete information Game Theory for Applied Economists Chp:4
15 Dynamic games with incomplete information Game Theory for Applied Economists Chp:4
16 Review of the Semester  

 

Course Notes/Textbooks Game Theory for Applied Economists, Robert Gibbons, Princeton University Press.
Suggested Readings/Materials H. Scott Bierman and Luis Fernandez (1998) Game Theory with Economic Applications, Addison Wesley Press: Second Addition, USAAvinash K. Dixit and Barry J. Nalebuff (2002), Stratejik Düşünme, Sabancı University Press: Istanbul (Turkish Translation by Nermin Arık),John S. McGee (1988), Industrial Organization, Prentice Hall Press, USARobert S. Pindyck and Daniel Rubinfeld (1992), Microeconomics, McMillan: Second Addition, New York, USA (Game Theory Chapters Only)Orhan Çoban (2003) Endüstri İktisadı ve Oyun Teorisi: Rekabetin Analitik Bir İncelemesi, Ekin Press, Istanbul, Turkey

 

EVALUATION SYSTEM

Semester Activities Number Weigthing
Participation
Laboratory / Application
Field Work
Quizzes / Studio Critiques
5
20
Portfolio
Homework / Assignments
Presentation / Jury
Project
Seminar / Workshop
Oral Exams
Midterm
2
50
Final Exam
1
30
Total

Weighting of Semester Activities on the Final Grade
7
70
Weighting of End-of-Semester Activities on the Final Grade
1
30
Total

ECTS / WORKLOAD TABLE

Semester Activities Number Duration (Hours) Workload
Theoretical Course Hours
(Including exam week: 16 x total hours)
16
3
48
Laboratory / Application Hours
(Including exam week: '.16.' x total hours)
16
0
Study Hours Out of Class
16
2
32
Field Work
0
Quizzes / Studio Critiques
5
6
30
Portfolio
0
Homework / Assignments
0
Presentation / Jury
0
Project
0
Seminar / Workshop
0
Oral Exam
0
Midterms
2
25
50
Final Exam
1
20
20
    Total
180

 

COURSE LEARNING OUTCOMES AND PROGRAM QUALIFICATIONS RELATIONSHIP

#
Program Competencies/Outcomes
* Contribution Level
1
2
3
4
5
1

To be able to acquire a sound knowledge of fundamental concepts, theories, principles and methods of investigation specific to the economic field.

X
2

To be able to apply adequate mathematical, econometric, statistical and data analysis models to process economic data and to implement scientific research for development of economic policies.

3

To be able to participate in academic, professional, regional, and global networks and to utilize these networks efficiently.

4

To be able to have adequate social responsibility with regards to the needs of the society and to organize the activities to influence social dynamics in line with social goals.

5

To be able to integrate the knowledge and training acquired during the university education with personal education and produce a synthesis of knowledge one requires.

6

To be able to evaluate his/her advance level educational needs and do necessary planning to fulfill those needs through the acquired capability to think analytically and critically.

X
7

To be able to acquire necessary skills to integrate social dynamics into economic process both as an input and an output.

8

To be able to link accumulated knowledge acquired during the university education with historical and cultural qualities of the society and be able to convey it to different strata of society.

X
9

To be able to take the responsibility as an individual and as a team member.

10

To be able to attain social, scientific and ethical values at the data collection, interpretation and dissemination stages of economic analysis.

X
11

To be able to collect data in economics and communicate with colleagues in a foreign language ("European Language Portfolio Global Scale", Level B1)

12

To be able to speak a second foreign at a medium level of fluency efficiently.

13

To be able to relate the knowledge accumulated throughout human history to their field of economics.

*1 Lowest, 2 Low, 3 Average, 4 High, 5 Highest

 


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