ECC3841 · Network economics

Overview

The explosive changes in our abilities to communicate over distances—spurred on by the evolution of communication technologies, coupled with the increased capabilities of the internet and social media—have made social networks very salient. An important reason for studying networks is to understand how networks affect behaviour. People often form relationships because they wish to be connected to other individuals for economic reasons, such as the benefits of collaboration, exchange and sharing of information. Network economics offers a tool for the analysis of the interaction of agents who are connected via a network and whose behaviours are influenced by those around them. This unit provides an introduction to network economics with an emphasis on real-world applications, including crime, education, labour, development economics, industrial organisation, political economy, financial economics, etc.

Offerings

Assessment

The Handbook lists an examination for this unit.

Assessment details may change. Please refer to the assessment information in Moodle closer to the start of the teaching period.

Requisites

Learning outcomes

1. identify real situations where network effects matter
2. put a real situation with social interactions into game theoretical formalism
3. propose adequate policies that are different when network effects matter and when they do not
4. understand the impact of network structure on agents' behaviour.

Workload

Minimum total expected workload to achieve the learning outcomes for this unit is 144 hours per semester typically comprising a mixture of scheduled learning activities and independent study. Independent study may include associated readings, assessment and preparation for scheduled activities. You are expected to complete all pre-class activities prior to your scheduled class, and post-class activities should be completed after your scheduled class. Learning activities may include a combination of teacher directed, peer directed and online engagement activities.

Student experience, not official rules. Nothing here changes what the Handbook says.