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Viewing: ECG 708 : Advanced Microeconomic Theory

Last approved: Wed, 16 Mar 2016 08:12:59 GMT

Last edit: Wed, 16 Mar 2016 08:12:59 GMT

Catalog Pages referencing this course
Change Type
ECG (Graduate Economics)
708
032301
Dual-Level Course
Cross-listed Course
No
Advanced Microeconomic Theory
Adv Micro Theory
Poole College of Management
Economics (20EC)
Term Offering
Fall Only
Offered Every Year
Fall 2016
Previously taught as Special Topics?
Yes
5
 
Course Prefix/NumberSemester/Term OfferedEnrollment
ECG 790Fall 20144
ECG 790Fall 20138
ECG 790Fall 20124
ECG 790Fall 20118
ECG 790Fall 20106
Course Delivery
Face-to-Face (On Campus)

Grading Method
Graded/Audit
3
15
Contact Hours
(Per Week)
Component TypeContact Hours
Lecture3
Course Attribute(s)


If your course includes any of the following competencies, check all that apply.
University Competencies

Course Is Repeatable for Credit
No
 
 
Thayer Morrill
Associate Professor
Assoc

Open when course_delivery = campus OR course_delivery = blended OR course_delivery = flip
Enrollment ComponentPer SemesterPer SectionMultiple Sections?Comments
Lecture1515Non/a
Open when course_delivery = distance OR course_delivery = online OR course_delivery = remote
Prerequisite: ECG 702
Is the course required or an elective for a Curriculum?
No
Survey of literature on game theory focusing on applications to numerous areas of economics. Course will cover the classic literature on auctions, matching theory and non-cooperative game theory. Special focus on applying these theoretical results to practical problems of market design.

Game Theory is an important field in economics that is not currently covered in our graduate program.  It is the study of strategic interaction, and its models are used extensively in Industrial Organization, Experimental Economics, and Micro and Macro Theory.  The students will be exposed to classic literature on auctions, matching theory and non-cooperative game theory with particular focus on how to model strategic interaction, and how to solving for the equilibria of these models.


No

Is this a GEP Course?
GEP Categories

Humanities Open when gep_category = HUM
Each course in the Humanities category of the General Education Program will provide instruction and guidance that help students to:
 
 

 
 

 
 

 
 

 
 

 
 

Mathematical Sciences Open when gep_category = MATH
Each course in the Mathematial Sciences category of the General Education Program will provide instruction and guidance that help students to:
 
 

 
 

 
 

 
 

Natural Sciences Open when gep_category = NATSCI
Each course in the Natural Sciences category of the General Education Program will provide instruction and guidance that help students to:
 
 

 
 

 
 

 
 

Social Sciences Open when gep_category = SOCSCI
Each course in the Social Sciences category of the General Education Program will provide instruction and guidance that help students to:
 
 

 
 

 
 

 
 

 
 

 
 

Interdisciplinary Perspectives Open when gep_category = INTERDISC
Each course in the Interdisciplinary Perspectives category of the General Education Program will provide instruction and guidance that help students to:
 
 

 
 

 
 

 
 

 
 

 
 

 
 

 
 

Visual & Performing Arts Open when gep_category = VPA
Each course in the Visual and Performing Arts category of the General Education Program will provide instruction and guidance that help students to:
 
 

 
 

 
 

 
 

 
 

 
 

Health and Exercise Studies Open when gep_category = HES
Each course in the Health and Exercise Studies category of the General Education Program will provide instruction and guidance that help students to:
 
 

 
 

 
 

 
 

 
&
 

 
 

 
 

 
 

Global Knowledge Open when gep_category = GLOBAL
Each course in the Global Knowledge category of the General Education Program will provide instruction and guidance that help students to achieve objective #1 plus at least one of objectives 2, 3, and 4:
 
 

 
 

 
Please complete at least 1 of the following student objectives.
 

 
 

 
 

 
 

 
 

 
 

US Diversity Open when gep_category = USDIV
Each course in the US Diversity category of the General Education Program will provide instruction and guidance that help students to achieve at least 2 of the following objectives:
Please complete at least 2 of the following student objectives.
 
 

 
 

 
 

 
 

 
 

 
 

 
 

 
 

Requisites and Scheduling
 
a. If seats are restricted, describe the restrictions being applied.
 

 
b. Is this restriction listed in the course catalog description for the course?
 

 
List all course pre-requisites, co-requisites, and restrictive statements (ex: Jr standing; Chemistry majors only). If none, state none.
 

 
List any discipline specific background or skills that a student is expected to have prior to taking this course. If none, state none. (ex: ability to analyze historical text; prepare a lesson plan)
 

Additional Information
Complete the following 3 questions or attach a syllabus that includes this information. If a 400-level or dual level course, a syllabus is required.
 
Title and author of any required text or publications.
 

 
Major topics to be covered and required readings including laboratory and studio topics.
 

 
List any required field trips, out of class activities, and/or guest speakers.
 

College(s)Contact NameStatement Summary
College of SciencesMansoor HaiderRequested that original title of 'Game Theory' be adjusted to distinguish between the undergraduate game theory course offered in the math dept. We changed the name to Advanced Game Theory as this is a doctoral level course.
Dr. Thayer Morrill has taught the course at each offering as part of his regular courseload. There are no plans to change this arrangement.

To expose students to classic literature on matching theory, auctions and non-cooperative games


To relate the study of strategic interaction to topics in economics


To train students how to model strategic interactions and solve for equilibria of such models


Student Learning Outcomes

Model situations of strategic interaction


Analyze the equilibria for various strategic tensions


Identify allocation problems that utilize a non-market solution


Evaluation MethodWeighting/Points for EachDetails
Short Paper20Auction proposal for a vaccine procurement auction. Grade based on both analysis and quality of writing.
presentation30Each student will lead a class discussion of a journal article. Student is expected to prepare a beamer or PPT presentation. Grade based on both mastery of the material and the professionalism of the presentation.
Short Paper20Each student will write a 2-4 page referee report of an assigned paper. The report will critique whether or not 1) the paper is correct, 2) the paper is innovative, 3) the paper makes a substantial contribution to the literature (requires a literature review). Ultimately, the student must recommend whether or not the paper deserves to be published.
Homework25There will be two take-home problem sets.
Written Assignment5Each student will find a newspaper article that describes a business, government agency, or person who did not take into account that people react strategically.
TopicTime Devoted to Each TopicActivity
Introduction and review of classic games3Lecture/discussion: herding activity, static games of complete information, dynamic games of complete information, bayesian games
Auction Theory (Classic and Revenue Equivalence)1Lecture/discussion: Ausubel, "Auction Theory for the New Economy" (classic auctions, revenue equivalency),
Auction Theory (Vickery)1Lecture/dicsussion: Ausubel, "The Lovely but Lonely Vickery Auction" (the Vickery auction)
Cooperative Game Theory2Lecture/discussion: the Core, marriage games, housing allocation games
Matching Theory and Market Design3Lecture/discussion: doctor-hospital choice, public school choice, kidney exchange
Special Topics 3Lecture/discussion: Topics to include experimental economics, aggregation of information, classic IO models
Presentations 2Presentations occur throughout the semester and are expected to account for 1-2 weeks of the semester
mlnosbis 10/8/2015: No overlapping courses.

ghodge 10/13/2015 Ask for consultation with Mathematics (DGP- Mansoor Haider, m_haider@ncsu.edu; or Dept. Head- Alina Chertock, chertock@math.ncsu.edu) since they have an undergraduate course called "Game Theory". Post a syllabus for the proposed course, not the 790 course. Edit syllabus to include all sections. i changed the course length to 14 weeks unless there is some special reason for only 15 weeks. Return to department for edits.

ghodge 1/7/2016. Ready for ABGS reviewers.

mlnosbis 1/8/2016: Updated workflow to route through CALS college-level approvers, as requested by DGP. Will continue Administrative Board review once approved by CALS.

ABGS Reviewer Comments:
-title on the syllabus has not been changed to Advanced Game Theory.
-concern that the title should be more specific as "Economic Game Theory" or equivalent, because there is a large body of work using game theory in biology not mentioned in this course. Response: title changed to Advanced Microeconomic Theory by instructor.

ghodge 2/6/2016 Ask department to edit syllabus
xzheng (Wed, 10 Feb 2016 16:19:26 GMT): The title of the syllabus has been changed to Advanced Game Theory.
Key: 8139