BA5129 STRATEGIC GAMES FOR MANAGERS
| Course Code: | 3125129 |
| METU Credit (Theoretical-Laboratory hours/week): | 3 (3.00 - 0.00) |
| ECTS Credit: | 8.0 |
| Department: | Business Administration |
| Language of Instruction: | English |
| Level of Study: | Graduate |
| Course Coordinator: | Prof.Dr. UĞUR SOYTAŞ |
| Offered Semester: | Fall Semesters. |
Course Objectives
The objectives of this course are to enable students to understand strategic interactions and use game theoretic approach in choosing among alternative strategies in a business setting. Concentration will be on facilitating strategic thinking rather than mathematical modeling.
Course Content
Game theory is an analytical tool used in modeling strategic interactions where an action by an agent influences the payoffs to other agents. Hence, game theory studies cooperative and competitive behavior in conflict situations. The applicability of game theory extends from economics, management science, bargaining, and conflict resolution to political science and theoretical biology. This course provides the students with the standard taxonomy and solution concepts necessary in formulating games, identifying optimum strategies, and predicting the outcomes of such games. Tools of game theory will be developed through lectures, readings, exercises, class discussions, and applications (business and economic). The course is mathematical in the sense that it requires logical thinking.
Course Learning Outcomes
By the end of this course students will be able to:
-distinguish between static normal form and dynamic extensive form games and apply the relevant solution concepts to solve them
-understand the notion of mixed strategies and solve for Nash equilibrium in mixed strategies
-tell the properties and weaknesses of various equilibrium concepts
-model and solve strategic interactions using tools of game theory
-identify and model repeated games and games with imperfect information
-apply game theoretic approach in situations that require strategic thinking