Facts about the course
- ECTS Credits:
- 7.5
- Responsible department:
- Faculty of Business Administration and Social Sciences
- Course Leader:
- Andrew Muteti Musau
- Lecture Semester:
- Autumn
- Teaching language:
- English
- Duration:
- ½ year
BØK750 Decision and Game Theory (Autumn 2024)
About the course
Decision Theory deals with methods for determining the optimal course of action when a number of alternatives are available and their consequences are either known or cannot be forecast with certainty. This course will use explore models for problem solving and decision making. The second part of the course, Game Theory, attempts to model strategic behavior in situations where the outcome depends on the actions of several participants. The aim is to provide an overview of the modeling of such strategic situations. The lectures in Decision Theory will cover the following topics:
- Choice Under Certainty
- Probability Judgement
- Choice Under Risk and Uncertainty
- Intertemporal Choice
In Game Theory, the following topics will be explored:
- Static Games of Complete Information (Theory and Applications)
- Mixed Strategy Nash Equilibrium
- Dynamic Games of Complete and Perfect Information (Theory and Applications)
- Repeated Games
- Dynamic Games of Complete but Imperfect Information (Theory and Applications)
- Static Games of Incomplete Information
- Dynamic Games of Incomplete Information
The course is connected to the following study programs
Recommended requirements
Basic knowledge of calculus and probability theory is an advantage. Participation in SØK710 Industrial Organization can be a benefit, but not a prerequisite.
The student's learning outcomes after completing the course
Knowledge
Upon completion of the course, students will have:
- solid knowledge of theories and principles for analysis of decision making under uncertainty and under strategic interaction.
Skills
Upon completion of the course, students will be able to:
- apply economic analysis to understand decision making under uncertainty and strategic interaction
- apply game theoretic methods to understand behavior and outcomes in situations where agents have different objectives, action possibilities and information
General competence
Upon completion of the course, students will:
- be able to apply these methods to relevant economic problems
Forms of teaching and learning
Classroom lectures. Double two-hour sessions per week.
Coursework requirements - conditions for taking the exam
- Mandatory coursework: Assignment(s)
- Courseworks given: 2
- Courseworks required: 2
- Presence: Not required
- Comment:
Examination
- Form of assessment: Digital school assessment - Inspera
- Proportion: 100%
- Duration: 4 hours
- Grouping: Individual
- Grading scale: Letter (A - F)
- Support material: -