Economic Theory
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Game Theory

Important Announcement:
The exam inspection (Klausureinsicht) takes place on Thursday, February 14,   at 14:00 in the library of the chair of Prof. Schmidt: Ludwigstraße 28, rear building, room 004.

Lectures (Prof. Dr. Klaus Schmidt):

  • Monday, 10:15 - 11:45, Geschwister-Scholl-Platz 1 - M 114
The first lecture takes place in the first week of the semester on Monday, October 15.

Tutorials (Karolina Vocke):

Group 1

  • Thursday, 14:15 - 15:45, Geschwister-Scholl-Platz 1 - B 006

Group 2

  • Thursday, 16:15 - 17:45, Geschwister-Scholl-Platz 1 - A 017
The first tutorials take place in the first week of the semester on Thursday, October 18.

Lecture Slides

Lecture slides can be downloaded from the LSF and are available in two formats:

  • The "slides" format corresponds to the format of the slides in the lecture.
  • The "handout" format features two slides per page and leave space for you to take notes. It is important that you take notes during the lecture.

You can also obtain the printed slides in the handout format from Wasti.

Outline

  1. Introduction

  2. Static games with complete information

  3. Dynamic games with complete information

  4. Repeated games

  5. Static games with incomplete information

  6. Dynamic games with incomplete information

Exam

The exam will take place on 7th February 2019 from 14:00 - 16:00 h in Große Aula (E120) Geschw.-Scholl-Pl. 1 (E)

The exam will last 90 minutes and you can get a maximum of 90 points!

You have to register for the exam at LSF in the period of December 12, 2018 to January 11, 2019!

Please bring student ID, ID and pens. You may also bring a non-programmable calculator.

You can find some old exams on the LSF.

Content of the Lecture

Game Theory analyses the strategic interaction between economic agents, e.g. in markets, in organisations, or in negotiations. It is a central method in economics and has applications in industrial organisation, international trade, macroeconomics, political economy, etc. The lecture is targeted at students interested in theory with a solid foundation in microeconomics. The lectures will introduce the fundamental solution concepts in game theory and will feature numerous concrete examples and applications from all areas of economics.

Organisational Matters

The course consists of one 2-hour lecture and one 2-hour tutorials (offered to two separate groups) each week. Lectures and tutorials complement each other and should be visited in tandem. The lectures will introduce and discuss the bulk of the material. The tutorials are designed to solidify your understanding of the course. You should plan to spend an additional 6-8 hours on preparing lectures and solving problem sets for this course.

Experiments

On the LSF webpage, you will find a PDF document with a set of experiments. During the first week of lectures, please download the document and provide your answers for the experiments on the designated answer sheets. Hand in you answer sheets to the tutor after your second tutorial. Keep the remaining documents, as we will be referring to them later during the course.

It is also strongly recommended that you participate in an economic experiment at the Munich Experimental Laboratory for the Economic and Social Sciences (MELESSA). You can register here: https://www.melessa.uni-muenchen.de/index.html

Literature

  • Gibbons, R., A Primer in Game Theory, New York: Harvester Wheatsheaf, 1992 (ca. € 58.60)
  • Osborne, M., An Introduction to Game Theory, Oxford University Press, 2003 (ca. € 51.00)

I will provide detailed information regarding the literature before each lecture. You may want to purchase or loan one of the above books.