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2011/2 Provisional Module Catalogue - UNDER CONSTRUCTION & SUBJECT TO CHANGE
 Module Code: ECO3011 Module Title: GAMES, MARKETS AND INFORMATION
Module Provider: Economics Short Name: EC454
Level: HE3 Module Co-ordinator: BAG PK Prof (Economics)
Number of credits: 15 Number of ECTS credits: 7.5
 
Assessment Pattern
Unit(s) of Assessment 

Weighting Towards Module 
Mark (%)
2 hour Examination

70
Coursework 1

10
Coursework 2

20

Qualifying Condition(s)
A weighted aggregated mark of 40% is required to pass the module
Module Overview
This module first develops equilibria concepts for static, dynamic, complete and incomplete information games. These equilbria concepts are then applied to the banking environment to demonstrate how banks can reduce market frictions and promote the efficient allocation of resources
Prerequisites/Co-requisites

None
Module Aims

The aim of this module is to show how game theory and informational economics can be provide valuable insights in a broad variety of problems in economics and the social sciences
Learning Outcomes

By the end of this module students will:-

  • understand how informaiton and dynamic assumptions lead to different equilibrium assumptions
  • be able to solve for the following equilibria: Nash, subgame perfect, Bayesian and perfect Bayesian
  • be able to aply these equilibria concepts to a wide range of problems in microeconomics, macroeconomics and banking
Module Content

The following is an indication of the likely topics to be covered:-

  • elements of a game, types of games and equilibria concepts
  • static games of complete information: the Nash equilibrium
  • dynamic games of complete information: the subgame perfect equilibrium
  • static games of incomplete information: the Bayesian equilibrium
  • dynamic games of incomplete information: the perfect Bayesian equilibrium
  • the role of banks in the financial system
Methods of Teaching/Learning
Lectures (11), Tutorials (5)
Last Updated

10 March 2011