Postgraduate - UnitECF5200 - Game theory and business strategy

This unit entry is for students who completed this unit in 2015 only. For students planning to study the unit, please refer to the unit indexes in the the current edition of the Handbook. If you have any queries contact the managing faculty for your course or area of study.

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6 points, SCA Band 3, 0.125 EFTSL

Refer to the specific census and withdrawal dates for the semester(s) in which this unit is offered.

Level	Postgraduate
Faculty	Faculty of Business and Economics
Organisational Unit	Department of Economics
Offered	Caulfield Second semester 2015 (Evening)
Coordinator(s)	Professor Chongwoo Choe

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.

Outcomes

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: 60%

Workload requirements

Minimum total expected workload to achieve the learning outcomes for this unit is 144 hours per semester typically comprising a mixture of scheduled learning activities and independent study. Independent study may include associated readings, assessment and preparation for scheduled activities. The unit requires on average three/four hours of scheduled activities per week. Scheduled activities may include a combination of teacher directed learning, peer directed learning and online engagement.

Chief examiner(s)

Professor Chongwoo Choe

Prerequisites

ECC2000 or equivalent, or ECF5927