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| Semester | Frühjahrsemester 2020 |
| Angebotsmuster | Jedes Frühjahrsem. |
| Dozierende |
Dragan Ilic (dragan.ilic@unibas.ch)
Catherine Roux (catherine.roux@unibas.ch, BeurteilerIn) |
| Inhalt | Game Theory (first half of the semester): The course is divided into lecture hours and exercise hours. Problem sets will be available before every lecture hour and will be partly solved together in class. Block 1: Static Games of Complete Information: • Introduction, normal form, best response, dominant strategies, iterated elimination, Nash equilibrium • Mixed strategies • Proof of existence, multiple equilibria, refinements Block 2: Dynamic Games of Complete Information: • Extensive form, backwards induction • Subgame perfection, repeated games • Infinitely repeated games, bilateral bargaining Block 3: Static Games of Incomplete Information: • Bayesian games, Bayesian Nash Equilibrium • First-price auction, double auction Block 4: Dynamic Games of Complete and Incomplete Information: • Purification of mixed strategies, Perfect Bayesian Equilibrium • Signaling games Theory of the Firm (second half of the semester): Markets and Prices as Coordination and Incentive Devices • Transaction Costs • Team Production • Asymmetric Information • Principal-Agent Theory • Signaling • Efficiency Wages |
| Lernziele | Game Theory: As Gibbons (1992, xi) puts it: “Game Theory is the study of multiperson decision problems. Such problems arise frequently in economics. As is widely appreciated, for example, oligopolies present multiperson problems – each firm must consider what the others will do. But many other applications of game theory arise in fields of economics other than industrial organization. At the micro level, models of trading processes (such as bargaining and auction models) involve game theory. At the intermediate level of aggregation, labor and financial economics include game-theoretic models of the behavior of a firm in its input markets (rather than its output market, as in an oligopoly). There are also multiperson problems within a firm: many workers may vie for one promotion; several divisions may compete for the corporation’s investment capital. Finally, at a high level of aggregation, international economics includes models in which countries compete (or collude) in choosing tariffs and other trade policies, and macroeconomics includes models in which monetary authority and wage or price setters interact strategically to determine the effects of monetary policy.” This course will introduce students to the main concepts and techniques of game-theoretic analysis. At its core lies the understanding of strategic interactions between deciding agents. The students will appreciate how to apply game-theoretic analysis to strategic settings. Theory of the Firm: Why do firms exist? Why are firms organized the way they are? Traditional economic models leave little room for firms or other organizations as they focus on market exchange between individuals. This course will introduce students to microeconomic models that try to explain the existence and structure of firms as we observe them in the real world. Economics brings a rigorous approach that is grounded in theory. The course will provide a basic understanding of economic approaches to modeling and understanding aspects of firms, their structure, the behavior they create, and how they differ from market interaction. About half of the course will be based on the standard textbook by Milgrom and Roberts, the other half will consist of influential articles on the economics of organizations, by authors such as Coase, Williamson, Hart, and Tirole. |
| Literatur | Literature part Game Theory: The teaching program follows Robert Gibbon’s book “Game Theory for Applied Economists”, also known as “A Primer in Game Theory,” (Princeton University Press, 1992). Slides for each lecture are uploaded to ADAM in advance. Literature part Theory of the Firm: The readings will consist of both scholarly research articles and chapters from the textbook, Economics, Organization and Management, by Paul Milgrom and John Roberts (1992, Prentice Hall). Both kinds of readings will be made available online. |
| Bemerkungen | For all MIME students: This lecture can be a substitute in the Module 1: Advanced Topics in Econonomics for the course 31960 Microeconomics and Psychology of Decision Making which is taught in fall term. |
| Weblink | Weblink zu ADAM |
| Teilnahmebedingungen | Completed Bachelor in Business and Economics |
| Anmeldung zur Lehrveranstaltung | Registration: Please enroll in MOnA. EUCOR-Students and students of other Swiss Universities have to enroll at the students administration office (studseksupport1@unibas.ch) within the official enrollment period. Enrollment = Registration for the exam! |
| Unterrichtssprache | Englisch |
| Einsatz digitaler Medien | Online-Veranstaltung |
| Intervall | Wochentag | Zeit | Raum |
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Keine Einzeltermine verfügbar, bitte informieren Sie sich direkt bei den Dozierenden.
| Module |
Grundlagenmodul: Advanced Topics in Economics (Masterstudium: International and Monetary Economics) Kernmodul: BWL (Masterstudium: Wirtschaftswissenschaften) (Pflicht) Modul Kernbereich Wirtschaftswissenschaften für Fortgeschrittene (Masterstudium: Sustainable Development (Studienbeginn vor 01.08.2017)) Modul: Ausgewählte Themen aus Ökonomie und Rechtswissenschaft (Masterstudium: Actuarial Science) Modul: Kernbereich Wirtschaftswissenschaften (Masterstudium: Sustainable Development) Modul: Methoden der Wirtschaftswissenschaften (Masterstudium: European Global Studies) Modul: Vorbereitung Masterarbeit Wirtschaftswissenschaften (Masterstudium: Sustainable Development) |
| Leistungsüberprüfung | Semesterendprüfung |
| Hinweise zur Leistungsüberprüfung | combined written exam: 04.06.20; 15:00-16:30. St. Jakobshalle Basel, Arena. Entrance opposite St. Jakob tram stop. You can still withdraw from the examination by submitting a completed, signed form to our office from 17.03.20 until 27.03.20 / 12:00 o’clock. Withdrawals sent by email will not be accepted. You will find the examination withdrawal form on the Homepage of the Student Dean’s Office. Prior to 16.03.20, please only use MONA for withdrawing. The exam rooms will be published up to 20.05.20. |
| An-/Abmeldung zur Leistungsüberprüfung | Anmeldung: Belegen |
| Wiederholungsprüfung | keine Wiederholungsprüfung |
| Skala | 1-6 0,1 |
| Wiederholtes Belegen | beliebig wiederholbar |
| Zuständige Fakultät | Wirtschaftswissenschaftliche Fakultät / WWZ, studiendekanat-wwz@unibas.ch |
| Anbietende Organisationseinheit | Wirtschaftswissenschaftliche Fakultät / WWZ |