ECON 3503 - Game Theory III

This course provides an introduction to Game Theory. Game Theory is a mathematical framework which makes possible the analysis of the decision making process of interdependent subjects. It is aimed at explaining and predicting how individuals behave in a specific strategic situation, and therefore help improve decision making. A situation is strategic if the outcome of a decision problem depends on the choices of more than one person. Most decision problems in real life are strategic. The course will explain in depth the standard equilibrium concepts (such as Nash Equilibrium, Subgame-Perfect Nash Equilibrium, and others) in Game Theory. To illustrate the concepts, real-world examples, case studies, and classroom experiments might be used.