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ECON 250 Game Theory and Applications

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The ECON 250 Game Theory and Applications course mainly introduces students about the fundamental ideas of game theory with a least of mathematics; and discuses application to business, economics, behavioral science, politics, philosophy, population biology along with the engineering.

After finishing the course, the students will be able:

  • To differentiate the game condition from a pure individual's decision problem.
  • To describe the concepts of players, strategies, rationality, payoffs, and equilibrium.
  • To explain the sequential games via game trees, and to make use of the backward induction to resolve such games.
  • To explain simple simultaneous-move games by means of game tables, and to elucidate the concepts of dominant, pure and mixed strategies, dominated and rationalizable strategies.
  • To explain simple games comprising the sequential- and simultaneous-moves, and to make clear and to find out sub-game perfect Nash equilibrium.
  • To describe the concepts of the asymmetric information, and to examine the simple signaling games.

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