-ECON2112 Game Theory and Business Strategy Course Outline PDF

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UNSW Business School Course Outline

ECON2112 Game Theory and Business Strategy - 2021 Study Level Undergraduate

Term Term 1

business.unsw.edu.au - CRICOS Code 00098G View course outline in browser

UOC 6 Units of Credit

Location On Campus and Online

School Economics

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1. Course Details Summary of Course Game theory is a structured way to think about strategic interactions and it is fundamental to the understanding of modern business strategy. This course introduces students to the basic tools of game theory and its applications to business choices. The course will cover normal-form and extensive-form games and games of perfect and imperfect/incomplete information, and will introduce equilibrium concepts such as Nash Equilibrium, Subgame-Perfect Equilibrium and Perfect Bayesian Equilibrium. We will also look at repeated games and the theory of reputation. The course will equip students with an understanding of the basic principles of strategic analysis, and enable them to apply the abstract theory to specific real-world problems.

Teaching Times and Locations Please note that teaching times and locations are subject to change.Students are strongly advised to refer to the Class Timetable website for the most up-to-date teaching times and locations. View course timetable

Course Policies & Support The Business School expects that you are familiar with the contents of this course outline and the UNSW and Business School learning expectations, rules, policies and support services as listed below: Program Learning Outcomes Academic Integrity and Plagiarism Student Responsibilities and Conduct Special Consideration Protocol for Viewing Final Exam Scripts Student Learning Support Services Further information is provided in the Assessment and Policies and Support sections. Students may not circulate or post online any course materials such as handouts, exams, syllabi or similar resources from their courses without the written permission of their instructor.

Course Aims and Relationship to Other Courses ECON 2112 is offered as part of the economics stream in the BCom and BEc degrees. Prerequisites for this course are ECON 1101 Microeconomics 1 and ECON1202 Quantitative Analysis for Business and Economics. This course aims to build on basic theories and knowledge learnt in these prior courses. The knowledge acquired in this course is further developed and put to use in third-year courses such as ECON 3121 Managerial Economics and ECON 3123 Organisational Economics.

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Student Learning Outcomes The Course Learning Outcomes (CLOs) are what you should be able to demonstrate by the end of this course, if you participate fully in learning activities and successfully complete the assessment items. CLOs also contribute to your achievement of the Program Learning Outcomes (PLOs), which are developed across the duration of a program for all coursework students in the Business School. More information on PLOs is available under Policies and Support . PLOs are, in turn, directly linked to UNSW graduate capabilities and the aspiration to develop “globally focussed graduates who are rigorous scholars, capable of leadership and professional practice in an international community”. The following table shows how the CLOs for this course relate to the overall PLOs and indicates where each CLO and PLO is assessed:

Course Learning Outcomes

Program Learning Outcomes

Course Assessment Item

On successful completion of the course, you should be able to:

This course helps you to This learning outcome will be develop the following assessed in the following Program Learning items: Outcomes: PLO 1: Business knowledge PLO 5: Responsible business practice PLO 6: Global and cultural competence PLO 7: Leadership development

Problem sets Final exam

2. Compute pure and mixed strategy Nash equilibria in normal form games.

PLO 1: Business knowledge PLO 2: Problem solving

Problem sets Final exam

3. Solve perfect information games using backwards induction.

PLO 1: Business knowledge PLO 2: Problem solving

Problem sets Final exam

4. Compute pure and mixed subgame perfect equilibria in extensive form games.

PLO 1: Business knowledge PLO 2: Problem solving

Problem sets Final exam

PLO 1: Business 5. Formulate strategic problems in analytical knowledge terms and analyse them using tools provided PLO 2: Problem solving by the theory. PLO 3: Business communication PLO 5: Responsible business practice PLO 6: Global and cultural competence PLO 7: Leadership development

Problem sets Final exam

1. Understand the basic principles of strategic analysis including solution concepts and be able to apply abstract theory to concrete problems.

6. Construct written work which is logically and professionally presented. business.unsw.edu.au - CRICOS Code 00098G View course outline in browser

PLO 1: Business knowledge

Problem sets

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Course Learning Outcomes

Program Learning Outcomes

Course Assessment Item

PLO 3: Business communication PLO 5: Responsible business practice PLO 7: Leadership development 7. Communicate ideas in a succinct and clear manner.

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PLO 1: Business knowledge PLO 3: Business communication PLO 7: Leadership development

Problem sets

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2. Staff Contact Details Position Title

Name

Email

Location

Phone

Consultation Times

Lecturer- Prof incharge

Arghya Ghosh

Email

Room 468, UNSW Business School

(02) 9065 9466

Thu 2.00 - 3.30 pm and by appointment.

Communication with Staff You should feel free to contact your lecturer about any academic matter. However, we strongly encourage, for efficiency, all enquiries about the subject material to be made at lectures or tutorials, or during consultation time. Discussion of course subject material will not be entered into via lengthy emails. Email correspondence on administrative matters (e.g., advising inability to attend tutorials) will be responded to within 48 hours, but not over weekends. Please note that the lecturer has no advance notice of the date and time of the exam.

Student Enrolment Requests Students can vary their own enrolment (including switching lecture streams or tutorials) via myUNSW until the end of Week 1. In general, most other student enrolment requests should be directed to The Nucleus: Student Hub (formerly Student Central). These include enrolment in full courses or tutorials, course timetable clashes, waiving prerequisites for any course, transfer-ofcredit (international exchange, transfer to UNSW, cross-institutional study, etc.), or any other request which requires a decision about equivalence of courses and late enrolment for any course. Where appropriate, the request will be passed to the School Office for approval before processing. Note that enrolment changes are rarely considered after Week 2 classes have taken place.

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3. Learning and Teaching Activities Approach to Learning and Teaching in the Course The philosophy underpinning this course and its teaching and learning strategies is based on “ Guidelines on Learning that Inform Teaching at UNSW ". Specifically, the lectures, tutorials and assessment have been designed to appropriately challenge students and support the achievement of the desired learning outcomes. A climate of inquiry and dialogue is encouraged between students and teachers and among students (in and out of class). The lecturers and tutors aim to provide meaningful and timely feedback to students to improve learning outcomes.

Learning Activities and Teaching Strategies The examinable content of the course is defined by the references given in the lecture schedule, the content of lectures, and the content of the tutorial program.

Lectures The purpose of lectures is to provide a logical structure for the topics that make up the course; to emphasise the important concepts and methods of each topic, and to provide relevant examples to which the concepts and methods are applied. All lectures will be recorded and will be available for download. The first video lecture introducing the course and covering Week 1's topics will be posted in Week 0. Q&A Sessions with the lecturer will be held weekly on Tuesdays from 2:00 pm to 3:30 pm via Zoom. No new material will be presented in the Q&A Sessions; rather, these will be demand-driven, giving you a chance to ask questions you may have about the lecture content from that week. Attendance at Q&A Sessions is recommended but not required; these will be recorded.

Tutorials Tutorials are an integral part of the subject. Tutorial problems will build on the material discussed in class with the lecturer. Tutorials, starting from week 2, will be held during the times listed in the timetable. There are 8 tutorials one each week excluding Weeks 1 and 6. Each tutorial runs for 90 minutes. There is a mix of online and on-campus/face-to-face tutorial streams. Please check the mode of delivery of your tutorial stream when you register for the course.

Out-of-Class Study While students may have preferred individual learning strategies, most learning will be achieved outside of class time. Lectures can only provide a structure to assist your study, and tutorial time is limited. An “ideal” strategy (on which the provision of the course materials is based) might include: Reading the relevant chapter(s) of the text - this will give you a general idea of the topic area. Watching the lecture videos. Asking any clarification questions you may have about the lecture content during the Q&A session. Attending tutorials and attempting the tutorial questions.

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4. Assessment Formal Requirements In order to pass this course, you must: achieve a composite mark of at least 50 out of 100; meet any additional requirements described in the Assessment Summary section. You are expected to attempt all assessment requirements in the course.

Assessment Structure Assessment Task Problem Sets

Final Exam

Total

Weighting 50%

50%

100%

Length

Due Date

See below

Friday 5 pm in Weeks 2, 3, 4, 7, 8 and 9.

2 hours

As scheduled in official University Examination period

–

–

Assessment Summary As a student at UNSW you are expected to display academic integrity in your work and interactions. Where a student breaches the UNSW Student Code with respect to academic integrity, the University may take disciplinary action under the Student Misconduct Procedure. To assure academic integrity, you may be required to demonstrate reasoning, research and the process of constructing work submitted for assessment. To assist you in understanding what academic integrity means, and how to ensure that you do comply with the UNSW Student Code, it is strongly recommended that you complete the Working with Academic Integrity module before submitting your first assessment task. It is a free, online self-paced Moodle module that should take about one hour to complete.

Problem Sets (50%) Problem sets are set in 6 weeks, and students are required to submit solutions by the Saturday of the week they are due. The problems will be discussed in the tutorial the following week. Tutors will mark each of the 6 problem sets out of 10 points. For each student, the problem set with the lowest mark will be dropped, and a student can get at most a total of 5 x 10=50 marks for the problem sets. Problem sets are due in Weeks 2, 3, 4, 7, 8 and 9. You should make every effort to complete and submit the problem sets. If you miss one problem set, you do not need to contact the lecturer or the tutors; the five remaining problem sets will each count towards business.unsw.edu.au - CRICOS Code 00098G View course outline in browser

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your mark. If you miss two problem sets, you should let your tutor know. In that case, the four remaining problem sets will count towards 40% of your final course mark, and the final exam will be worth 60%. If students miss more than two problem sets due to illness or other unexpected circumstances outside their control, they need to apply for Special Consideration.

Open-Book Final Exam (50%) This will be held during the University examination period. The final exam will be in the format of a Moodle quiz plus possibly an extra (written) question. It will test knowledge from the whole course. Students will have 2 hours to complete the exam, within a longer access window to allow for minor technical or internet connection issues (more details on exam format will be provided closer to the time). Students will be allowed to access all course resources during the exam (lecture videos, slides, textbook, etc.).

Assignment Submission Procedure Submission of the Problem Sets is via Moodle. Only documents uploaded in pdf format that comply with the submission requirements will be accepted. Everything else will not be graded.

Assessment Feedback Feedback on student performance from formative and summative assessment tasks will be provided to students in a timely manner. Assessment tasks completed within the teaching period of a course, other than a final assessment, will be assessed and students provided with feedback, with or without a provisional result, within 10 working days of submission, under normal circumstances. Feedback on continuous assessment tasks (e.g. laboratory and studio-based, workplace-based, weekly quizzes) will be provided prior to the midpoint of the course.

Special Consideration You can apply for special consideration when illness or other circumstances beyond your control interfere with your assessment performance (to apply see Special Consideration on the UNSW Current Students page). Special Consideration is primarily intended to provide you with an extra opportunity to demonstrate the level of performance of which you are capable. Special Consideration applications will be assessed centrally by the Case Review Team within Student Lifecycle. The Case Review team will update the online application with the outcome and add any relevant comments. Please note the following: Applications can only be made through Online Services in myUNSW. Applications will not be accepted by teaching staff. The lecturer-in-charge/course coordinator will be automatically notified when you lodge an online application for special consideration. Applying for special consideration does not automatically mean that you will be granted a supplementary exam or other concession. If you experience illness or misadventure in the lead up to an exam or assessment, you must submit an application for special consideration, either prior to the examination taking place, or prior to the assessment submission deadline , except where illness or misadventure prevent you from doing so. If you sit the exam/submit an assignment, you are declaring yourself well enough to do so and are business.unsw.edu.au - CRICOS Code 00098G View course outline in browser

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unable to subsequently apply for special consideration. If you become unwell on the day of the exam, you must provide evidence dated within 24 hours of the exam, with your application. The current provisions will continue for exceptional circumstances, for example, if a student falls sick during an exam. Other exceptions will continue to be examined on a case by case basis by the Student Lifecycle team. Special consideration requests do not allow the awarding of additional marks to students. Further information on Business School policy and procedure can be found under “Special Consideration” on the Policies and Support page. Problem Sets: Late submissions will not be accepted for marking. Students who end up unable to submit a problem set due to illness or other unexpected circumstances outside their control will need to apply for Special Consideration.

Protocol for Viewing Final Exam Scripts UNSW students have the right to view their final exam scripts, subject to a small number of very specific exemptions. The UNSW Business School has set a protocol under which students may view their final exam script. Individual schools within the Faculty may also set up a local process for viewing final exam scripts, so it is important that you check with your School. Further school-specific information may be included below.

Quality Assurance The Business School is actively monitoring student learning and quality of the student experience in all its programs. A random selection of completed assessment tasks may be used for quality assurance, such as to determine the extent to which program learning goals are being achieved. The information is required for accreditation purposes, and aggregated findings will be used to inform changes aimed at improving the quality of Business School programs. All material used for such processes will be treated as confidential.

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5. Course Resources The website for this course is on Moodle . It is essential for the successful completion of this course that students attend all lectures, as the examination will focus on material presented and discussed in lectures. The required textbook for this course is: Gibbons, Robert. Game Theory for Applied Economists. Princeton University Press, 1992. Additional material will be posted on the course website.

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6. Course Evaluation & Development Feedback is regularly sought from students and continual improvements are made based on this feedback. At the end of this course, you will be asked to complete the myExperience survey , which provides a key source of student evaluative feedback. Your input into this quality enhancement process is extremely valuable in assisting us to meet the needs of our students and provide an effective and enriching learning experience. The results of all surveys are carefully considered and do lead to action towards enhancing educational quality. The School of Economics strives to be responsive to student feedback. If you would like more information on how the design of this course and changes made to it over time have taken students’ needs and preferences into account, please contact the Director of Education at the School of Economics. We appreciate student feedback because we are always looking for ways to improve your learning experience in this course. Below is a summary of the feedback from the previous student cohort in this course and our response, in terms of how we improved this year's course delivery.

Previous students told us that: They thought that the best things about the course were: very interesting content changed my way of thinking it was enjoyable and interesting easy to understand, great lectures the lecturers and the tutor---all were enthusiastic and e...