University of Minnesota-Twin Cities

Department of Economics

 

ECON 4108 – ADVANCED GAME THEORY AND APPLICATIONS

 

FALL 2020 (REMOTE)

 

 

Instructor: Professor Anmol Bhandari

Email: bhandari@umn.edu

Office: 4-171 Hanson Hall

CREDITS: 4

LECTURE TIME: 1010-12.05 PM TTH

Instructor Office hours : TBA

ZOOM ID: TBA

CANVAS SITE:

 

 

REMOTE COURSE DELIVERY:

 

This is a Remote course with no on-campus meetings. Course lectures will be delivered via Zoom at the times and days mentioned above, with meetings scheduled through the course Canvas website. Office hours take place via Zoom as well.

 

You need to log in to your Zoom account at umn.zoom.us, download the desktop app and use meeting IDs stated above to join the proper meetings. The department expects all of you to attend lectures. In the lectures, you are encouraged to keep your camera open, ask questions, make comments, and participate in class discussions. Education research shows that students who participate actively in class understand class material much better and receive higher grades.

 

 

OVERVIEW:

This course will cover concepts and applications of game theory. Briefly game theory is a study of strategic behavior in multi-agent settings. The course will develop the structure of static and dynamics games in a mathematically rigorous manner and study several applications such as: oligopolistic competition, auctions, political economy – voting, etc.

TEXT:

Martin Osborne: An Introduction to Game Theory

All readings will be taken from Martin Osborne: An Introduction to Game Theory. It is recommended that all of you have a latest copy of the text. We will follow the book closely and I will often assign exercises from the book. If you want to use old editions, please make sure to compare the exercise numbers with the latest edition before handing in problem sets.

 

 

PREREQUISITES:

 

Econ 3101 and 3102 or equivalent; MATH 1271 and MATH 1272 or equivalent;  students should have successfully completed two 4xxx level UMNTC economics courses.

 

Students are expected to know multivariate calculus, convex optimization, and elementary probability theory. A large part of the material will consist of theorems and formal proofs. Please take the quiz on the first class seriously to make sure that you are on board. This quiz will not be graded or counted towards the final score.

 

 

 

GRADING

 

Grading will be based on in class quizzes (20%), midterm (30%), final exam (40%) and homework assignments (10%).  The final grade will be given according to the table below.

 

Total

Grade

Below 30%

D

30% - 50%

C

50%-75%

B

Above 75%

A

 

 

Please note that there is no grading on the curve and all grades are final.

 

There will be no makeup exams (except for the final exam only if the student has another exam scheduled at the same time or has three exams within a 16 hour period). Missing a quiz or an exam is equivalent to getting zero points. All exams and quizzes will be held during class hours. Exams will be based on the material contained in the appropriate sections of the textbook by Martin Osborne and not just the parts discussed in the class. You should not expect to see a problem that has been either discussed in the class or in the TA session. Partial credit will be given for applying the concepts correctly even if the final answer is incorrect. No credit will be given for “correct” final answers if the writing is unclear or steps are missing.

 

HOMEWORK ASSIGNMENTS:

 

Students may form a group of at most 4 students. Each group must hand in a single assignment. Students may not discuss the homework with people outside of their group, although it is permitted that students form different groups for different assignments. All homework assignments are to be typed and emailed to the TA. 

 

 

APPROPRIATE ONLINE CONDUCT

 

Please treat each other and the instructor with respect and listen to their views.  Respectful interactions are critical to successful professional conduct and this course is no exception. Please consider your tone and language, especially when communicating in text format, as the lack of other cues can lead to misinterpretation. Like other work in the course, all student-to-student communication is governed by the University’s  Student Conduct Code.

 

 

APPROPRIATE USE OF COURSE MATERIALS

 

Sharing course materials with anyone outside of the class is a violation of intellectual property per Item 6 of the U of M policy on student responsibilities. Please do not share any course material with anyone else.

 

 

 

TECHNOLOGY REQUIREMENTS AND SKILLS

 

These technical requirements will allow you to access the Canvas site successfully, send/receive online communications, complete assigned activities, and view multimedia content. 

You  are expected to have the ability to use the following technologies: online course site navigation though CANVAS, assignment submission and exam taking in Canvas, Microsoft Office suite tools such as Word, PowerPoint and Excel (or equivalents), and online collaboration and presentation tools. Technical support is available at the UMN IT help site. Information on campus  computer labs and learning spaces are available.  The Information Technology page Working and Learning Off Campus is for students who need help with technology issues.

It is recommended that students use a desktop or laptop computer less than six years old with at least 1GB of RAM, and use the most recent version of Chrome or Firefox with JavaScript enabled. Internet connections should be at least 512kbps.

 

We ask you to turn on your computer camera/video during class; it helps the instructor and builds classroom community. Please keep your audio turned off in Zoom and turn it on when asking questions or participating in class discussions.

 

All communication about this course will come to you through the Canvas LMS.   During the first week of class, please make sure you set your notifications so that you receive course information.  This is your responsibility.

You will take two exams (details later) via Zoom. In case of computer malfunction (losing internet connection and other problems), please send an email to the instructor at once, and I will get back to you with steps to follow.

I will not grant due date extensions due to problems you may have with the devices or services you’re using. If your personal computer does not have the necessary capabilities to complete the activities and assignments for this course, or if you experience difficulties with your internet connection, you must find alternative computer resources (link mentioned above).

Technical Support for Canvas:

For tips and information about Canvas visit the Canvas Guide Using Help - Student: https://community.canvaslms.com/docs/DOC-10554-4212710328. 

 

 

INSTRUCTIONAL TIME AND STUDENT EFFORT:

 

 For undergraduate courses, one credit is defined as equivalent to three hours of additional work per week for the course, in order for students to achieve an average grade. This implies that you should put in at least 12 additional hours per week on this course, along with attending class for -150 minutes per week.

 

Academic Services and Resources at UMN

Below are several student services available to students:

 

The University of Minnesota Academic Support and Tutoring website and Student Academic Support Services offer a range of excellent support services. Please contact the Center for Writing, or the Libraries for assistance with research and writing skills.

 

FERPA and STUDENT PRIVACY

In this class, our use of technology will make student names and emails visible within the course website, but only to other students in the same class. The University uses a secure, password-protected course website; however, if you have concerns, you can adjust settings in your online course profile to hide your email. If you are required to use any tool external to Canvas for learning activities or assignment completion, a link or description of privacy policies will be included in the directions provided in the course site.

 

Week Date Topics 1 (T) 9/8 (T) 9/10 Overview of syllabus and in class quiz Review mathematical foundations (logic and set theory) TA Session: Review quiz #1 and practice problems (half session) 2 (T) 9/15 (R) 9/17 Theory of Rational Choice Games with Perfect Information (static) • strategic forms, players, actions, strategies, equilibrium Best responses, dominated strategies 3 (T) 9/22 (R) 9/24 Games with Perfect Information (static) • Nash Equilibrium TA Session: Review concepts and practice problems (full session) 4 (T) 9/29 (R) 10/1 Games with Perfect Information (static) • Oligopoly • Electoral competition • Auctions HW1 5 (T) 10/6 (R)10/9 Expected utility theorem TA Session: Review HW1 (full session) 6 (T) 10/13 (R)10/15 Games with Perfect Information (static) • Mixed Strategies • applications HW2 7 (T) 10/20 (R) 10/22 Games with Perfect Information (dynamics) • Extensive form games • Histories, strategies, backwards induction • Subgame perfection TA Session: Review HW2 (full session) 8 (T) 10/27 (R) 10/29 IN CLASS QUIZZ (will cover chapters 1-4) Extensive form games: applications 9 (T) 11/3 (R) 11/5 Extensive form games: applications + HW3 TA Session: Review HW3 (full session) 10 (T) 11/10 (R) 11/12 Coalition games + HW4 11 (T) 11/17 (R) 11/19 MIDTERM (will cover chapter 1-7) TA Session: Review HW4 12 (T) 11/24 (R) 11/26 Coalition games THANKSGIVING 13 (T) 12/1 (R) 1/3 Bayesian Games: Concepts TA Session: Review HW4 (full session) 14 (T) 12/8 (R) 12/10 Bayesian Games: applications + HW5 15 (T) 12/15 TA Session: HW5

 

 

 

 

 

FINAL EXAM: - TBA

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DEPARTMENT OF ECONOMICS  --  PROCEDURES AND POLICIES  2020

 

CLASS ASSIGNMENTS:

Written answers to homework assignments must be typed; Graphs and numerical work need not be typed, but should be legible.

 

COURSE PREREQUISITES:

Students are expected to have successfully completed all prerequisites prior to taking an Economics course.

 

STUDENTS WITH DISABILITIES:

Reasonable accommodations will be provided for all students with documented disabilities (by the DRC). Contact the instructor at the beginning of the semester to work out details. This information will be kept confidential.

 

STUDENT MENTAL HEALTH AND STUDENT COUNSELING SERVICES:

As a student you may experience a range of issues that can cause barriers to learning, such as strained relationships, increased anxiety, alcohol/drug problems, difficulty concentrating and/or lack of motivation. These mental health concerns or stressful events may lead to diminished academic performance or reduce a student's ability to participate in daily activities. University of Minnesota services are available to assist you with addressing these and other concerns. Information about confidential mental health services is available at: https://boynton.umn.edu/clinics/mental-health. Student Counseling Services website: https://counseling.umn.edu/

 

 

SEXUAL MISCONDUCT

Sexual misconduct (sexual harassment, sexual assault, stalking, and relationship violence) includes unwelcome sexual advances, requests for sexual favors, and/or other verbal or physical conduct of a sexual nature. Such behavior is prohibited in the University setting.

 

Per the U of M policy on sexual harassment, I am required to share information that I learn about possible sexual misconduct with the campus Title IX office. Within the requirements of my job, I will be as responsive as possible to your requests for confidentiality and support. You can also, or alternately, choose to talk with a confidential resource that will not share information that they learn about sexual misconduct. Confidential resources include The Aurora Center, Boynton Mental Health, and Student Counseling Services.

 

DROPPING A CLASS:

Termination of attendance alone is not sufficient to drop a class. You must notify the Registrar’s office. Please contact your academic (college) adviser for details on this process and pay attention to University deadlines for add/drop.

 

INCOMPLETE GRADE:

Low class standing is not a valid reason for an Incomplete grade. An I is given only in exceptional circumstances like family emergencies or hospitalization; arrangements must be worked out between the student and instructor before the final exam. We require written proof of emergencies. Details about I grades and how to make it up are to be decided by the Instructor and student; you need to fill out the form.

 

MAKE-UP EXAMS:

Make up exams are possible for the final exam only if the student has another exam scheduled at the same time, or has three exams within a 16 hour period. This should be pre-arranged with the instructor at least three weeks before the final exam. Make up final exams may also be possible for documented medical emergencies.

 

SCHOLASTIC DISHONESTY:

"The College of Liberal Arts defines scholastic dishonesty broadly as any act by a student that misrepresents the student's own academic work or that compromises the academic work of another. Examples include cheating on assignments or exams, plagiarizing (misrepresenting as one's own anything done by another), unauthorized collaboration on assignments or exams, or sabotaging another student's work".

The University Student Conduct Code defines scholastic dishonesty as “Submission of false records of academic achievement; cheating on assignments or examinations; plagiarizing; altering, forging, or misusing a University academic record; taking, acquiring, or using text materials without faculty permission; acting alone or in cooperation with another to falsify records or to obtain dishonestly grades, honors, awards, or professional endorsement.”

Penalties for scholastic dishonesty of any kind in any course will entail an "F" for the particular assignment/exam or the course.

Website for information on Student Academic Misconduct  --    https://communitystandards.umn.edu/avoid-violations/avoiding-scholastic-dishonesty

 

STUDENT CONDUCT AND CLASSROOM BEHAVIOR:

Students are expected to contribute to a calm, productive, and learning environment. Check the Student Conduct Code:  https://regents.umn.edu/sites/regents.umn.edu/files/2019-09/policy_student_conduct_code.pdf  to find out what is expected of you. 

 

STUDY ABROAD IN ECONOMICS:

The Department encourages you to undertake Study Abroad. There are many courses in foreign countries that can satisfy some economics major, minor, or Liberal Education requirements. For more information, please contact our Undergraduate Advisers, Ms. Annie Bigley and Ms. Tiffany Kroeze Murphy, or the University’s Learning Abroad Center at http://www.umabroad.umn.edu/.

There will be no Study Abroad in Fall 2020.

 

UNDERGRADUATE ADVISERS:

Contact the Undergraduate Advisers if you wish to sign up for an Economics major or minor or to get information about institutions of higher study. Your APAS form will list your progress toward an Economics degree. 

Adviser:         Ms. Tiffany Kroeze Murphy and Ms. Annie Bigley ( econadv@umn.edu); Sign up for appointments at  econ.appointments.umn.edu              

 

 

ECONOMICS UNDERGRADUATE PROGRAM INFORMATION:

Available on the Internet at:  https://cla.umn.edu/economics/undergraduate.  Registration policies are listed in the University Course Schedules and College Bulletins.

 

 

COMPLAINTS OR CONCERNS ABOUT COURSES:

All course grades are subject to department review.

Please contact your instructor or TA if you have any complaints/concerns about the course. If your concerns are not resolved after talking with your instructor, you can contact:  Professor Simran Sahi, Director of Undergraduate Studies.  Her e-mail is:    ssahi@umn.edu