Game Theory I

Last Updated: Mon, 01/05/2026
Course prefix:
ECON
Course number:
4180
Semester:
Spring
Academic year:
2026
Course description:

This is an upper division economics elective course in game theory. Game theory might be viewed as a set of tools for formally modeling and analyzing strategic interaction between rational agents. Critically, game theory is distinguished from microeconomics more broadly by its focus on interactions between multiple decision makers. While it is in principle straightforward to model the behavior of an individual rational decision maker — e.g., he maximizes a preference, a utility function, or a profit function, as in the consumer or producer theory of intermediate microeconomics — modeling interactions between multiple self-interested decision makers requires some additional care.

Game theory has many applications. It is ubiquitous not only in economics, business, and political science, but also in neighboring subjects such as industrial engineering and not-so-neighboring subjects like biology. In fact, game theory is such an important part of computer science that the discipline has developed its own methodologies for doing game theory that have diverged somewhat from the field’s roots in economics. My expectation is that many students in this course will go on to use game theory in areas of study not only within economics, but in some of these other areas as well.

Course learning outcomes:

The primary goal of this course is to familiarize students with the theoretical foundations of game theory. Time permitting, a secondary goal is to develop select applications. In particular, upon completion of the course, students should

  • understand the basic tenets of game theory: strategies, best responses, and equilibrium;
  • be able to analyze and solve various types of games; and
  • understand the assumptions and modeling framework that underlie game theory and be able to think critically about the relationship theory and practice.
Required course materials:

There are two references.

  • Required text: Strategy: An Introduction to Game Theory (Third Edition) by Joel Watson.
  • Supplemental text: I periodically post my own lecture notes to Canvas. This material is preliminary and incomplete, likely to contain errors, and is not to be distributed for any reason. These notes are provided “as is”.

The course is primarily based on the following chapters from Watson’s text:

  • foundations: chapters 1-5
  • static games: chapters 6, 9, 11
  • dynamic games: chapters 14, 15, 19, 22
  • games of incomplete information: chapters 24, 26, 27.
Grading policy:

Letter grades

Grades will be based on between six and eight homework assignments and three exams. Homework is worth 25% of your grade and exams are worth 75% of your grade. We will drop your lowest homework score (missed or otherwise) and weight the remaining assignments equally. Similarly, we will drop your lowest exam score (missed or otherwise) and weight each of the remaining two exams as 37.5% of your grade. Letter grades will be assigned in a manner that is no less generous than the following scale:

  • A: [ 90 , 100 ]
  • B: [ 80 , 90 )
  • C: [ 70 , 80 )
  • D: [ 60 , 70 )
  • F: [ 0 , 60 ) .

Similarly, pass/fail grades will be assigned in a manner that is no less generous than the following scale:

  • Pass: [ 60 , 100 ]
  • Fail: [ 0 , 60 ) .

I reserve the right to use a more (but not less) generous grading scale. However, my commitment to you is that letter grades will be assigned “monotonically”: if student ’A’ has a higher objective average than student ’B’, then student ’A’ will earn a letter grade that is at least as high as the letter grade awarded to student ’B’.

Homework

Students may work homework assignments in groups, but assignments are to be submitted by each individual student. Your submission is to be your own work. Homework should be submitted electronically to Canvas by 9:29 AM on the day that it is due. Homework will be graded by our teaching assistant. Students should directly contact our teaching assistant for disputes, questions, or concerns about homework. Contact the instructor about homework only if there is a dispute with the teaching assistant that can not be resolved.

Exams

All three exams are in class, closed-book, closed-note, traditional paper exams. You will have exactly one hour and fifteen minutes to complete each midterm and two hours and fifty minutes to complete the final.

  • The first midterm examination is March 04, 2026.
  • The second midterm examination is April 22, 2026.
  • The final exam is May 06, 2026 from 8:00 AM to 10:50 AM.

Exams will be graded by the teaching assistant. Contact the instructor in the event of grade disputes.

Missed work

I do not excuse missed exams or homework assignments except for appropriately documented Institute-approved absences. If you fail to sit for two or more of our examinations for any reason, you will earn a failing grade for the course unless I receive communication from the Office of the Dean of Students advising me that your absences ought to be excused.

Attendance policy:

You are responsible for material that you miss on days you are not present in class unless you have an Institute-approved excuse. Do not e-mail me with questions about what was covered on days you missed unless your absence is excused.

Academic honesty/integrity statement:

Students are expected to maintain the highest standards of academic integrity. All work submitted must be original and properly cited. Plagiarism, cheating, or any form of academic dishonesty will result in immediate consequences as outlined in the university's academic integrity policy.

Core IMPACTS statement(s) (if applicable):

This is a Core IMPACTS course that is part of the Social Sciences area. Core IMPACTS refers to the core curriculum, which provides students with essential knowledge in foundational academic areas. This course will help master course content, and support students’ broad academic and career goals. This course should direct students toward a broad Orienting Question:

  • How do I understand human experiences and connections?

Completion of this course should enable students to meet the following Learning Outcome:

  • Students will effectively analyze the complexity of human behavior, and how historical, economic, political, social or geographic relationships develop, persist or change.

Course content, activities and exercises in this course should help students develop the following Career-Ready Competencies:

  • Intercultural Competence
  • Perspective-Taking
  • Persuasion.
Instructor First Name:
Maxwell
Instructor Last Name:
Rosenthal
Section:
MR1
CRN (you may add up to five):
31580
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Department (you may add up to three):
Economics

Environmental Economics

Last Updated: Fri, 01/02/2026
Course prefix:
ECON
Course number:
4440
Semester:
Spring
Academic year:
2026
Course description:

Is economic growth compatible with environmental quality?  This course discusses how economic behavior impacts and is impacted by the environment.  We discuss how to design policies that promote economically and environmentally sustainable communities such as pollution pricing and property-rights approaches.  In addition, we discuss how communities can manage environmental commons problems by relying on local knowledge, norms, and institutions.  At the end of the course, students analyze data related to an environmental policy change, applying basic econometric techniques for program evaluation.

Course learning outcomes:

The top-level learning objective for this course is for students to develop a critical understanding of the tradeoffs between consumption of dirty goods and environmental amenities.  Inherent in this is an understanding of the consequences of command-and-control environmental policies, market-based environmental policies, local governance approaches, and non-intervention.  By the end of the semester, students will be comfortable using mathematical models of firm and individual behavior as a framework for analyzing a broad range of environmental problems.  In addition, students will be able to apply canonical conceptual models from economics to environmental problems in new contexts.  Finally, students will be able to use econometric techniques to analyze the effects of environmental policies on economic outcomes.

Required course materials:

There is no textbook needed for purchase.  I have written a textbook for the course that I will post online.  Readings will also be provided online when applicable.

Grading policy:

There are 600 possible points in the course. Your final grade is calculated as the total number of points you earn (including extra credit), divided by 600.

Points Breakdown

  • Participation grade: 50 points
  • Reading quizzes: 90 points
  • Homework assignments: 160 points
  • Midterm exam: 150 points
  • Final exam: 150 points
  • Podcast and CIOS extra credit: up to 20 points

Total possible points: 600

Letter Grade Conversion (Georgia Tech Scale)

  • A (4.0 – Excellent): 90.00%–100.00%
  • B (3.0 – Good): 80.00%–89.99%
  • C (2.0 – Satisfactory): 70.00%–79.99%
  • D (1.0 – Passing): 60.00%–69.99%
  • F (0.0 – Failure): below 60.00%
Attendance policy:

Attendance is key for success in this class.  I will not keep track of attendance; however, participation is part of the course grade and there are in-class quizzes.  In previous years, students who skipped class learned less and consistently performed worse on exams.  I strongly encourage students to attend every class. 

Please arrive on time for class and avoid leaving class early.  If this cannot be avoided on a given class day, please communicate with the instructor beforehand.  Students who disrupt class by arriving late and leaving early may have their participation grade penalized.

Academic honesty/integrity statement:

“I commit to uphold the ideals of honor and integrity by refusing to betray the trust bestowed upon me as a member of the Georgia Tech community.”

Georgia Tech aims to cultivate a community based on trust, academic integrity, and honor. Students are expected to act according to the highest ethical standards.  For information on Georgia Tech's Academic Honor Code, please visit https://policylibrary.gatech.edu/student-life/academic-honor-code.  Academic integrity is extremely important to me.

Any student suspected of cheating or plagiarizing on an exam or assignment will be reported to the Office of Student Integrity, which will investigate the incident and identify the appropriate penalty for violations.

Core IMPACTS statement(s) (if applicable):

This is a Core IMPACTS course that is part of the Social Sciences area. 

Core IMPACTS refers to the core curriculum, which provides students with essential knowledge in foundational academic areas. This course will help students master course content, and support students’ broad academic and career goals.  

This course should direct students toward a broad Orienting Question: 

  • How do I understand human experiences and connections?  

Completion of this course should enable students to meet the following Learning Outcome: 

  • Students will effectively analyze the complexity of human behavior, and how historical, economic, political, social, or geographic relationships develop, persist, or change.  

Course content, activities and exercises in this course should help students develop the following Career-Ready Competencies: 

  • Intercultural Competence
  • Perspective-Taking
  • Persuasion 
Instructor First Name:
Dylan
Instructor Last Name:
Brewer
Section:
DB
CRN (you may add up to five):
30237
35343
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Department (you may add up to three):
Economics

International Energy Markets

Last Updated: Fri, 01/02/2026
Course prefix:
ECON
Course number:
3300
Semester:
Spring
Academic year:
2026
Course description:

Energy is central in our lives. We take it for granted that when we flip a switch the light will come on, or when we plug in our smart phones the battery will begin charging. When we get cold we turn up the heat; when we get hot we run the air conditioner. Fueling stations for our gas- and diesel-powered vehicles are so ubiquitous as to have become mundane. Nearly every imaginable physical good or service we trade in modern markets requires some form of energy to produce, transport, and/or consume. This course examines the economics of energy markets, encompassing the full value chain from production to consumption. We will cover all major primary energy resources, including fossil fuels, nuclear, hydroelectric, and renewables, as well as electricity and transportation fuel markets. Particular focus is given to environmental and health impacts, regulation and industrial organization, and energy policy at both the state and federal levels.

Course learning outcomes:

Students will learn to apply core micro- and macroeconomic principles to energy markets.

Required course materials:

None. All texts are optional.

Grading policy:

Standard grading scale.

  • 90.0-100: A
  • 80.0-89.99: B
  • 70.0-79.99: C
  • 60.0-69.99: D
  • <60.0: F

Breakdown of graded items:

  • Homeworks (25%)
  • Exams (50%)
  • Group research paper (25%)
Attendance policy:

None.

Academic honesty/integrity statement:

Students are expected to maintain the highest standards of academic integrity. All work submitted must be original and properly cited. Plagiarism, cheating, or any form of academic dishonesty will result in immediate consequences as outlined in the university's academic integrity policy.

Core IMPACTS statement(s) (if applicable):

This is a Core IMPACTS course that is part of the Social Sciences area.

Core IMPACTS refers to the core curriculum, which provides students with essential knowledge in foundational academic areas. This course will help master course content, and support students’ broad academic and career goals.

This course should direct students toward a broad Orienting Question:

  • How do I apply core micro- and macroeconomic principles to energy markets?

Completion of this course should enable students to meet the following Learning Outcomes:

  • Students will effectively apply micro- and macroeconomic principles to energy markets.
  • Students will gain a broader understanding of how economists approach energy problems and their relationship to environmental and health outcomes.
  • Students will gain a deeper understanding of how energy policies are informed by economic analysis.

Course content, activities and exercises in this course should help students develop the following Career-Ready Competencies:

  • Analytical approach to problem solving
  • Ability to synthesize and communicate complex market information
  • Quantitative & writing skills
Instructor First Name:
Matthew
Instructor Last Name:
Oliver
Section:
MO1
CRN (you may add up to five):
34682
View PDF
Department (you may add up to three):
Economics

Economic Forecasting

Last Updated: Thu, 12/18/2025
Course prefix:
ECON
Course number:
4160
Semester:
Spring
Academic year:
2026
Course description:

Surveys modern time series econometrics with topics such as univariate models, vector autoregressions, linear and nonlinear filtering, frequency domain methods, unit roots, structural breaks, empirical process theory asymptotics, and forecasting. The course highlights applications in macroeconomics and finance.

Course learning outcomes:

This course introduces the theory and application of time series methods for forecasting, utilizing R. Topics covered will include graphics, time series decomposition, forecasting tools, confidence bands, regression models, exponential smoothing, autoregressive models, moving-average models, and unit roots. 

By completing this course, you will become familiar with various forecasting techniques and be able to perform forecasts in R. You will have an opportunity to collect data, code in R to perform forecasts, analyze the results, present your findings, and write about your forecasts.

Required course materials:

Statistical Inference via Data Science: A ModernDive into R and the Tidyverse (2nd ed) by Chester Ismay and Albert Y. Kim. Found at: https://moderndive.com/index.html.

Forecasting: Principles and Practice (3rd ed) by Rob J Hyndman and George Athanasopoulos. Found at: https://otexts.com/fpp3/.

 

You may also find useful the following: Getting Used to R, RStudio, and R Markdown (rbasics.netlify.app).

Grading policy:

There are three components to your grade. The first is coursework and quizzes (40%). Typical assignments contain both written and oral parts. This work may be done both in and out of class. Some assignments may be completed with a partner or small group. The second area is exams (30%). There will be two mid-term exams this semester during class time. The third component of your grade is a project (30%). This project is to be done using R and will contain a presentation and paper component due at the time of the final exam, as scheduled by the institution's Registrar.

Attendance policy:

Attendance is not taken, but in-class assignments, quizzes, and exams take place in class. Work in this class is only allowed to be made-up when the student has an excused absence.  I will use a standard definition of excused absences that includes: serious illness, illness or death of family member; College-related trips; and major religious holidays.  In each case, appropriate verification may be required.  Students missing assignments due to an excused absence bear the responsibility of informing the instructor about their excused absence within one week following the period of the excused absence (except where prior notification is required).  At that point, the new date for completion will be determined between the student and the professor. 

Academic honesty/integrity statement:

Students are expected to maintain the highest standards of academic integrity. All work submitted must be original and properly cited. Plagiarism, cheating, or any form of academic dishonesty will result in immediate consequences as outlined in the university's academic integrity policy.

Core IMPACTS statement(s) (if applicable):

This is a Core IMPACTS course that is part of the Social Sciences area. 

Core IMPACTS refers to the core curriculum, which provides students with essential knowledge in foundational academic areas. This course will help students master course content, and support students’ broad academic and career goals. 

This course should direct students toward a broad Orienting Question: 

  • How do I understand human experiences and connections? 

Completion of this course should enable students to meet the following Learning Outcome: 

  • Students will effectively analyze the complexity of human behavior, and how historical, economic, political, social, or geographic relationships develop, persist, or change. 

Course content, activities and exercises in this course should help students develop the following Career-Ready Competencies: 

  • Intercultural Competence
  • Perspective-Taking
  • Persuasion
Instructor First Name:
Thomas
Instructor Last Name:
Woodbury
Section:
DW1
CRN (you may add up to five):
31404
View PDF
Department (you may add up to three):
Economics
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