Program Overview

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Program Overview

The University of Copenhagen offers a course in Microeconomics III, which is a mandatory course for the MSc programme in Economics and a prioritized elective for the Bachelor's programme in Economics.

Course Description

This course further introduces game theory and its applications in economic models. Students will learn the basics of game theory, including static games with complete and incomplete information, dynamic games with complete and incomplete information, and how to model economic problems involving strategic situations.

Learning Outcomes

After completing the course, students are expected to be able to:

• Formally state the definition of a game and explain the key differences between games of different types.
• Account for the equilibrium concepts relevant for these games, such as Nash Equilibrium, Subgame Perfect Nash Equilibrium, Bayes-Nash Equilibrium, and Perfect Bayesian Equilibrium.
• Identify special games and particular issues associated with them, such as repeated games, auctions, and signaling games.
• Explicitly solve for the equilibria of these games, explain the relevant steps in the reasoning of the solution, and interpret the outcomes of the analysis.
• Apply equilibrium refinements and discuss the solution concepts.
• Evaluate and debate the crucial assumptions underlying the theory.
• Analyze strategic situations by modeling them as formal games.
• Set up, prove, analyze, and apply the theories and methods used in the course in an independent manner.

Literature

The course syllabus includes:

• Robert Gibbons, "A Primer in Game Theory" (Prentice Hall, 1992).
• Some short additional materials available for download.

Recommended Academic Qualifications

The course requires knowledge equivalent to that achieved in Microeconomics I and Microeconomics II at the Bachelor of Economics, University of Copenhagen.

Teaching and Learning Methods

The teaching consists of lectures and exercise classes, with a focus on exercises and applications of the theory. Relevant experiments will be discussed.

Remarks

The course schedule includes 3 hours of lectures and 3 hours of exercise classes per week, with some variations depending on the semester.

Workload

The estimated workload for the course is:

• Lectures: 42 hours
• Class instruction: 42 hours
• Preparation: 119 hours
• Exam: 3 hours
• Total: 206 hours

Feedback

Students will receive individual, written feedback for three mandatory assignments, and collective oral feedback for quizzes and games played during the lecture.

Exam

The exam is an on-site written exam, 3 hours under invigilation, with no aids allowed. The marking scale is a 7-point grading scale, with no external censorship.

Re-exam

The re-exam is the same as the ordinary exam, with the requirement to hand in and have approved 3 out of 3 mandatory assignments.

Criteria for Exam Assessment

Students are assessed on the extent to which they master the learning outcomes for the course. To obtain the top grade, students must demonstrate an excellent performance displaying a high level of command of all aspects of the relevant material.

Course Information

• Language: English
• Course code: AØKA08005U
• Credit: 7.5 ECTS
• Level: Full Degree Master and Bachelor
• Duration: 1 semester
• Placement: Autumn and Spring
• Study board: Department of Economics, Study Council
• Contracting department: Department of Economics
• Contracting faculty: Faculty of Social Sciences
• Course Coordinators: Egor Starkov (Autumn) and Johan Lagerlöf (Spring)
• Lecturers: See 'Course Coordinators'

Also, note that the input does not contain any information about research areas. If you need information about research areas, please consult the university's website or contact their administration directly.

Finally, note that the input does not contain any information about admission criteria. If you need information about admission criteria, please consult the university's website or contact their administration directly.

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