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Economics: Strategic Thinking in Microeconomics with Dr Ian Gregory-Smith from The University of Sheffield
20th June 2016 @ 12:45 - 13:45
Dr Ian Gregory-Smith from The University of Sheffield will be presenting this live interactive lecture discussing Strategic Thinking in Microeconomics. Over the first 30 minutes of the session Ian will cover topics including:
- How markets operate, what a competitive market is and what is an oligopoly?
- Should companies work together or compete?
- An explanation of Game Theory
- The Prisoners Dilemma (if two people are charged with a crime, should they gamble and ‘talk’ to the police and blame the other person or ‘stay silent’ and both take a small sentence).
- Introduction to the Nash Equilibrium
- Firm’s Dilemma (should a company like Coca-Cola and Pepsi collude or compete?)
Following Ian’s talk, 10-15 mins at the end will be made available for Economics undergraduate students to talk about their own experiences and aspirations. They will also take questions from the audience about studying Economics and also on wider issues relating to student life at Sheffield.