Programme And Module Handbook
Course Details in 2019/20 Session

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Module Title LI Decision Theory and Games
SchoolBirmingham Business School
Department Birmingham Business School
Module Code 08 08352
Module Lead Zhihua Li
Level Intermediate Level
Credits 10
Semester Semester 2
Restrictions Available to all students who have been allowed onto the second year of a degree programme for which it is compulsory or who have passed 08 29162 Advanced Mathematics for Economics; other students who wish to take the module must first consult the lecturer
Contact Hours Lecture-20 hours
Seminar-4 hours
Guided independent study-76 hours
Total: 100 hours

This module examines the principles and algorithms for making decisions. It provides a more precise and systematic study of the formal or abstract properties of decision-making scenarios. The module considers decisions of a single individual and situations where the decisions of more than two parties are involved. Topics covered in the first part include: subjective probability, rational preferences and utility, expected utility, risk aversion, objections and alternatives to expected utility theory, and group decisions.  The second part provides an introduction to major concepts of game theory.

Learning Outcomes

By the end of the module students should be able to:

  • demonstrate knowledge and critical understanding of the major concepts of decision theory and games;
  • identify and evaluate the interrelation of these concepts and their use in applications of economics;
  • appraise alternative viewpoints concerning the applicability of decision theory and games.
Assessment 08352-01 : Exam : Exam (Centrally Timetabled) - Written Unseen (100%)
Assessment Methods & Exceptions Assessment: 2 hour written examination (100%) Reassessment: 2 hour written examination (100%)
Reading List