Difference between revisions of "Game Theory and Economics"
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| + | {{Infobox | ||
| + | | title = Game Theory and Economics | ||
| + | | header1 = Economics Course | ||
| + | | label2 = Course Code | data2 = [[Game Theory and Economics|GMTH]] | ||
| + | | label3 = Year Opened | data3 = 2009 | ||
| + | | label4 = Sites Offered | data4 = [[CGV]] | ||
| + | | label5 = Previously Offered | data5 = [[BTH]], [[BRI]], [[HKU]], [[SCZ]] | ||
| + | }} | ||
{{CAA courses}} | {{CAA courses}} | ||
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| − | |||
==Course Description== | ==Course Description== | ||
From the CTY Summer Catalog: | From the CTY Summer Catalog: | ||
| − | Thomas J. Watson | + | IBM founder Thomas J. Watson once said, “Business is a game—the greatest game in the world if you know how to play it.” In today’s global marketplace, understanding game theory—the branch of mathematics that focuses on the application of strategic reasoning to competitive behavior—is key to success in business and economics. This course uses game theory as a framework from which to analyze a variety of real-world economic situations. You’ll analyze simple games to learn how they can be used to model actual situations encountered by entrepreneurs and economists. For example, you’ll apply the concept of Nash equilibria to find the perfect price for a pizza. Through class discussions, activities, research, and mathematical analysis, you and your classmates will acquire an understanding of more complex games and how apply these methods to a variety of economic situations such as auctions and bidding behavior, fair division and profit sharing, monopolies and oligopolies, and bankruptcy. |
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| − | |||
| − | + | [[Category: Courses]] | |
| + | [[Category: Collegeville]] | ||
Latest revision as of 14:29, 22 March 2023
| Economics Course | |
|---|---|
| Course Code | GMTH |
| Year Opened | 2009 |
| Sites Offered | CGV |
| Previously Offered | BTH, BRI, HKU, SCZ |
Course Description
From the CTY Summer Catalog:
IBM founder Thomas J. Watson once said, “Business is a game—the greatest game in the world if you know how to play it.” In today’s global marketplace, understanding game theory—the branch of mathematics that focuses on the application of strategic reasoning to competitive behavior—is key to success in business and economics. This course uses game theory as a framework from which to analyze a variety of real-world economic situations. You’ll analyze simple games to learn how they can be used to model actual situations encountered by entrepreneurs and economists. For example, you’ll apply the concept of Nash equilibria to find the perfect price for a pizza. Through class discussions, activities, research, and mathematical analysis, you and your classmates will acquire an understanding of more complex games and how apply these methods to a variety of economic situations such as auctions and bidding behavior, fair division and profit sharing, monopolies and oligopolies, and bankruptcy.
