mar744 - Game Theory and Ecological Economics

Game Theory

Students

- understand the importance of incentive systems for economic processes;

- have a firm knowledge in game theory;

- are able to apply methods from game theory largely independently to the analysis of situations in which agents interact strategically;

- are able to design incentive schemes – on their own and in teams – to acquire knowledge on their own for this purpose and to present their results.

Ecological Economics

The aim of the module “Ecological Economics” is to introduce students to core concepts and policy implications from the field of Ecological Economics. The module is structured into three parts. First, students will be introduced to the topic by two lectures on the specific vision and paradigms of Ecological Economics as distinguished from environmental & resource economics and on the history of Ecological Economics. Second, the students work out and discuss the core analytical concepts (ecological footprint, ecosystem services, social-ecological resilience, substitutability of natural capital, time) as well as the core normative concepts (justice, human behaviour) in Ecological Economics. Third, the students will discuss and reflect certain policy implications following from Ecological Economics – specifically the economics of degrowth and the measurement of welfare. The basis for discussion will be classical and current scientific papers.

Game Theory

The first part of the module covers game theory. Game theory is an important method in economics to analyze strategic interactions of agents, e.g., on markets, in organizations or in bargaining situations. 

Ecological Economics

Ecological Economics is concerned with integrating the study and management of "nature's household" (ecology) and "humankind's household" (economics). This integration is central to many of humanity’s current problems and to governing economic activity in a way that promotes human well-being, sustainability, and justice.

Game Theory

- Gibbons, R. (1992): A Primer in Game Theory. FT Prentice Hall (zentraler Text für 1. Teil)

- Watson, J. (2013): Strategy: An Introduction to Game Theory. Norton (zentraler Text für 2. Teil)

- Osborne, M.J. (2003): An Introduction to Game Theory. Oxford University Press.

Ecological Economics

Depending on the topic and content of each seminar