PřF:M9302 Mathematical methods in econom - Course Information
M9302 Mathematical methods in economy
Faculty of ScienceSpring 2013
- Extent and Intensity
- 2/1. 2 credit(s) (příf plus uk k 1 zk 2 plus 1 > 4). Recommended Type of Completion: zk (examination). Other types of completion: z (credit).
- Teacher(s)
- Dmytro Vikhrov (lecturer), doc. RNDr. Martin Čadek, CSc. (deputy)
- Guaranteed by
- doc. RNDr. Martin Čadek, CSc.
Department of Mathematics and Statistics – Departments – Faculty of Science
Contact Person: doc. RNDr. Martin Čadek, CSc.
Supplier department: Department of Mathematics and Statistics – Departments – Faculty of Science - Timetable
- Tue 13:00–14:50 M4,01024
- Timetable of Seminar Groups:
- Prerequisites
- No specific courses are required. Basic knowledge of calculus and English is expected. Knowledge of economics is not necessary.
- Course Enrolment Limitations
- The course is also offered to the students of the fields other than those the course is directly associated with.
- fields of study / plans the course is directly associated with
- there are 9 fields of study the course is directly associated with, display
- Course objectives
- The course presents some of the most avantgarde mathematical tools used in the modern economic analysis. It provides introduction to Game Theory, as a branch of Applied Mathematics, by answering the question how it is used in today’s Economics. During the lectures students get familiar with basic economic terms and concepts using their own real-life intuition about the market relations between buyers and sellers. Passing the course students will develop and demonstrate ability to identify the key characteristics of a particular market situation, to relate it to one of the main standard models studied in class and to apply that model to find the correct market equilibrium solution (i.e. the optimal set(s) of possible decisions of the parties actively engaged in the market) according to the theory.
- Syllabus
- 1.1. Static Games of Complete Information 1.2. Economic Application: Cournot versus Bertrand Model of Duopoly 2.1. Dynamic Games of Complete and Perfect Information 2.2. Economic Application: Stackelberg Model of Duopoly 3.1. Dynamic Games of Complete but Imperfect Information 3.2. Economic Application: Bank Runs, Imperfect International Competition 4.1. Repeated Games 4.2. Economic Application: Collusion between Cournot Duopolists 5.1. Information theory 5.2. Economics Application: Principal-Agent Problem 6.1. Static Games of Incomplete Information 6.2. Economic Application: First and Second-bid Auctions 7.1. Dynamic Games of Incomplete Information 7.2. Economic Application: Signaling and Screening, Cheap Talk
- Literature
- Laffont, J. and Martimort, D., The Theory of Incentives - The Principal Agent Model, Princeton University Press, 2002.
- Gibbons R., Game Theory for Applied Economists, Princeton University Press, 1992.
- Hirshleifer, J. and Riley, J., The Analytics of Uncertainty and Information. Cambridge University Press 1997.
- VARIAN, Hal R. Intermediate microeconomics : a modern approach. 6. ed. New York: W.W. Norton, 2002, xxiv, 688. ISBN 0393978303. info
- Teaching methods
- Lectures and homeworks.
- Assessment methods
- The overall course grade will be computed by converting into a grade-point score the total number of points gained from two homework assignments (20%) and a written exam (80%).
- Language of instruction
- English
- Further comments (probably available only in Czech)
- Study Materials
Information on the per-term frequency of the course: nepravidelně.
- Enrolment Statistics (Spring 2013, recent)
- Permalink: https://is.muni.cz/course/sci/spring2013/M9302