Courses in Fall 2022
ECON 404 - Games and Economics (undergraduate)
Game theory analyzes situations in which two or more decision-makers (individuals, firms, political parties, countries) interact in a strategic manner. It has proved useful in helping us understand situations involving conflict and/or cooperation and has found many applications in economics, business, political science, law, social psychology, and biology. Among those applications are firm competition in markets, technological races, auctions, voting behavior, cultural norms, import tariffs, etc. The aim of this course is threefold. First and most importantly, we will provide a systematic introduction to the tools of game theory. We will learn how to construct theoretical frameworks that capture the key elements of strategic interactions and determine the most likely outcome(s) in any given game. Second, we will illustrate the theoretical concepts with some specific applications. Finally, we will discuss some shortcomings of the theories developed in the course and talk about alternative formulations.
ECON 420 - Experimental Economics (undergraduate)
The objective of Experimental Economics is to test the validity of economic theories of decision making and determine if there are systematic departures from those theories. Economic experiments replicate real-word incentives and are conducted either in the laboratory or in the field. The objective of this course is to review the main results obtained in experimental economics both in individual decision making contexts and in games of strategy. ECON 420 Experimental Economics is the empirical complement to ECON 404 Games and Economics; it demonstrates the difference between theoretical predictions and actual behavior.