Postgraduate Course: Game Theory for Business Analytics - Executive Education (BUST11237)
Course Outline
| School | Business School |
College | College of Arts, Humanities and Social Sciences |
| Credit level (Normal year taken) | SCQF Level 11 (Postgraduate) |
Availability | Not available to visiting students |
| SCQF Credits | 10 |
ECTS Credits | 5 |
| Summary | This course covers an introductory level of game theory to provide analytical tools for business applications. |
| Course description |
Academic description:
Traditional research in business analytics focused on the decision theoretic perspectives, in which a single decision-making authority optimises the system as a whole under exogenous uncertainty. The past decades saw the evolution of business studies to address management problems with strategic uncertainty, in which different individuals, divisions and/or firms strategically interact with each other. Strategic interactions in multi-agent problems create new challenges for managers. As a natural quantitative analytical tool for such multi-agent decision making problems, game theory has widely and successfully been applied to the field of business management.
Outline content:
This course introduces game theory as analytical tools and provides insights into managerial situations in order to assist with decision making when multiple agents with conflicting objectives are involved. To be more specific, it provide students with both cooperative and non-cooperative game theory based quantitative frameworks to analyse strategic interactions in economic problems and its impact on managerial decision making and to understand strategic situations in which different individuals/divisions/firms may have potentially conflicting incentives.
Student learning experience:
Students will embark on an insightful journey to understand the strategic interactions among rational decision-makers in business scenarios. Through a blend of theoretical foundations and interactive simulations, learners will explore key concepts such as Nash Equilibrium, sequential games, and cooperative versus non-cooperative strategies. This course equips students with the analytical tools and frameworks to anticipate competitor actions, optimize business decisions, and craft strategies that can transform challenges into competitive advantages in the complex world of business.
|
Entry Requirements (not applicable to Visiting Students)
| Pre-requisites |
|
Co-requisites | |
| Prohibited Combinations | |
Other requirements | None |
Course Delivery Information
| Not being delivered |
Learning Outcomes
On completion of this course, the student will be able to:
- Identify strategic situations in which different agents have conflicting incentives.
- Analyse the consequences of strategic interactions on feasible outcomes and allocations.
- Understand various non-cooperative equilibrium concepts and cooperative solution concepts.
- Identify the rationale of the assumptions behind game-theoretic models.
|
Additional Information
| Graduate Attributes and Skills |
Not entered |
| Keywords | Not entered |
Contacts
| Course organiser | Dr Tong Wang
Tel: (0131 6)51 5551
Email: |
Course secretary | Miss Criss Cojocaru
Tel:
Email: |
|
|
University Homepage