ECF5200 - Game theory and business strategy

Leader(s): Professor Chongwoo Choe

Offered

Caulfield Second semester 2009 (Evening)

Synopsis

Game theoretic analysis is fundamental to understanding modern business strategies and forms the basic infrastructure of strategy courses. The unit teaches the basic tools of Game Theory, and introduces a structured way to think about business interactions. Game theory originated in the middle of the twentieth century as the general study of strategic interactions and has found applications in a wide variety of contexts including economics, psychology, politics and evolutionary biology. It is this generality that is the source of its power. Accordingly, the unit develops game theory broadly with applications to strategic situations, including business as well as more general contexts.

Objectives

The learning goals associated with this unit are to:

• to develop a broad understanding of the basic principles of strategic analysis including solution concepts
• to apply the abstract theory to concrete problems.

Assessment

Within semester assessment: 40%
Examination (2 hours): 60%

Prerequisites

ECF4100 or ECC4650 or equivalent and ECF4200 or ECC4660 or equivalent