ECO 326

Economics 326h5s

Instructor: Carolyn Pitchik

Syllabus

Eco 326 Syllabus 2011-2012 (a pdf file)>

WHAT'S NEW?

26/03/2012: Please see below for announcements regarding the time and date for the make-up test below

25/03/2012: Please see revision of Expanded Lecture 11 below

24/03/2012: Please see below for announcements regarding the Final Exam

24/03/2012: Please see below for announcements regarding the make-up test

24/03/2012: Please see below for Expanded Lectures 10 and 11

18/03/2012: Please see below for Expanded Lectures 8 and 9

04/03/2012: Please see Compilation of Test Questions from Chapter 9 below

04/03/2012: Please see Compilation of Test Questions from Chapters 5-6-7-16 below

04/03/2012: Please see below for Expanded Lecture 7

29/02/2012: Please see below for Solutions to Test 1

15/02/2012: Please see below for correction to Best Response section in Expanded Lecture 1

11/02/2012: Please see below for correction to ECO 326 Test #1 2010-2011 Question 1(c)

10/02/2012: Please see Blackboard for a Discussion Forum on Test #1

10/02/2012: Please see below for Expanded Lecture 6

02/02/2012: Please see Solutions to Past Test Questions below

02/02/2012: Please see below for Expanded Lecture 5

30/01/12: Please see Expanded Lecture 4 below (week four)

11/01/12: Please see Expanded Lecture 3 below (second and third hour of week three)

11/01/12: Please see Expanded Lecture 2 Part 2 below (first hour of week one)

11/01/12: Remember that classes on Friday 13 January have been re-scheduled to the third hour of weeks one and three.

07/01/12: Note change to Expanded Lecture 2 Part 1 below (third hour of week one)

07/01/12: Please see Expanded Lecture 2 Part 1 below (third hour of week one)

07/01/7: Please see Expanded Lecture 1 below (first two hours of week one)

02/01/12: Please see Compilation of Test Questions from Chapters 1-2-3-4 below

02/01/12: We will use the three scheduled hours 10a.m. - 1 p.m. on occasion during the term. In particular, for sure we will do so in weeks one (5 January) and three (19 January). We will announce future such uses in this space.

Announcement regarding Make-Up Test

those who missed any test will automatically get zero unless they write the make-up
you may NOT use your final exam grade for a term test that you have missed
any who missed a test must have provided me with an official document within one week of the missed test
Only eligible students are allowed to write the make-up test
Those eligible to write the make-up test should contact me by e-mail by 25 March 2012
The Make-up Test will be held from 1-3 p.m. on 29 March in room CC2134
The location, date, and time of the Make-up Test will be announced on 26 March 2012
There are no aids allowed
You are responsible for all the material from the entire year's work

Announcement 1 of 4 for Final Exam: Exam Format

Remember that it is an academic offence simply to possess unauthorized aids of ANY kind during exams

Unauthorized aids include (but are not limited to) any device that stores information including (but not limited to) cell phones, Electronic Dictionaries and IPods.

Please have a simple ordinary watch or travel clock for time-keeping purposes and NOT a cell phone.

For exam date, please check https://registrar.utm.utoronto.ca/student/examschedule/finalexams.php

There are NO AIDS ALLOWED

There are 6 questions. Each question is worth 17 marks. You must do all questions.

Announcement 2 of 4 for Final Exam: Exam Topics

You are responsible for all the material covered in the LECTURES and in the TEXTBOOK for the topics in Chapters 1-7, 9 and 16 excluding Chapter 10 on the syllabus

The list of topics include (AT A MINIMUM), the following list. When in doubt, consult the syllabus, the text and the lectures

You are responsible for finding the solution to a game that is presented to you in either strategic form with or without perfect information or in extensive form.

You are responsible for being able to formulate a game given a word problem and then solving it.

You are responsible for the concepts of Nash equilibria (pure and mixed), subgame perfect Nash equilibria and Bayesian Nash equilibria (pure and mixed)

You are responsible for pure and mixed nash equilibria of the examples and exercises in chapters 1-3 excluding section 3.6 Accident Law

You are responsible for pure and mixed nash equilibria of the examples and exercises in chapter 4

You are responsible for Nash equilibria and subgame perfect Nash equilibria in extensive form games covered in Chapters 5, 6 and 7

You can test yourself on word problems for Chapter 6 by trying the examples and questions in chapter 7

You are responsible for Bayesian Games covered in Chapter 9

You are responsible for Bargaining in Chapter 16.1-16.2 inclusive (including the limit of finite horizon bargaining games)

Announcement 3 of 4 for Final Exam: Tips on how to study

First study a chapter and testing yourself with the chapter questions

When you compare your answer with that given in the solutions you can then decide whether you need to study further or whether you should try some of the test questions

Test yourself with some of the questions from past tests regarding this chapter

When you compare your answer with that given in the solutions you can then decide whether you need to study further or whether you can continue to the next chapter

If your answers do not agree with the solutions provided, figure out why and study further on that topic, then test yourself again using past test questions.

If your answers do agree with the solutions provided, then go on to the next chapter and test yourself on questions from the chapter and then on questions from past tests regarding this chapter

Once you have finished each chapter, test yourself further by trying some of the final exam questions.

If your answers do not agree with those given then you need to study further

If your answers agree with those given then you are ready to sit down and take a practice exam by using a past exam.

Announcement 4 of 4 for Final Exam: OFFICE HOURS for FINAL EXAM

Xin (Sky) Zhao Friday 13 April 2012, 1-7 p.m. in room DV1147

Xin (Sky) Zhao: Monday 16 April 2012, 3-6 p.m in room DV1147

C Pitchik: Monday 16 April 2012, 10:00 a.m. - 3:00 p.m in room K264

C Pitchik Monday 17 April 2012, 10:00 a.m. - 3:00 p.m in room K264

Announcement regarding Test 1

Test #1 is to be held on Thursday 16 February 2011 in our regular classroom at 10 a.m..
There are NO AIDS ALLOWED.
Remember that it is an academic offence simply to possess unauthorized aids of ANY kind during tests.
Unauthorized aids include (but are not limited to) cell phones, Electronic Dictionaries and IPods.
Please have a simple ordinary watch or travel clock for time-keeping purposes and NOT a cell phone.
You are responsible for ALL the material in chapters 1-4 of the textbook.
You are responsible for ALL the material in lectures 1-6 covering chapters 1-4.
You are responsible but NOT LIMITED TO being able to perform various tasks including
Know how to show a pure or mixed strategy dominates another mixed or pure strategy
Know when and how to reduce the size of a matrix game in the search for Nash equilibria in pure and mixed strategies.
Know in principle how to find pure or mixed Nash equilibria of a matrix game of any size
Know the idea of how to find the pure and mixed Nash equilibria of a matrix game of any size
Know how to perform comparative statics on the Nash equilibria of a matrix game
Know how to perform comparative statics on the Nash equilibria of a game in strategic form
Know how to use equations to find the pure Nash equilibria of a game with a continuum of actions and continuous and possibly kinked payoff functions
Know how to find the Nash equilibria of a game by considering different action profiles in turn
Know how to figure out properties of the action profile that may aid in finding the Nash equilibria
Know how to find the mixed Nash equilibria of a game with a finite number of individuals, each of whom use a mixed strategy over two actions.
Know how to set up a game theoretic model in strategic form from a story
Know how to compare two different sets of Bernouilli utility functions to see whether they represent a common set of preferences over gambles
Know how to solve all the exercises given in chapters 1-2-3 and 4 specificed in the Syllabus
Know how to solve all the problems given on the course web page that cover chapters 1-2-3 and 4

Announcement regarding office hours for Test 1

Reading Week: Answers to questions that are e-mailed to me will be posted on a Blackboard Discussion Board
23 February: TA 14:30-17:30 on Tuesday 23 February in room TBA
Our TA will inform you of the location of his office hours via e-mail.