Economics applicant thread UCAS 2013

Nash equilibria? Really? I thiught you need a proper grasp of game theory to understand. Personally I'm going to stay away from the really advanced stuff.

Yeh that should be enough and try and relate it to the real world so is not just plain theory but more practical knowledge. Game theory really show off maths in Economics so maybe try and include that. E.g. Iterative deletion is being taught in Core 3 and is used in game theory.

Nash equilibria? Really? I thiught you need a proper grasp of game theory to understand. Personally I'm going to stay away from the really advanced stuff.

Yes, that's what I'm trying to do with Game Theory, I have a good market example I've used. Ooh, sounds good, I'll look it up (there are so many uses, it's almost endless, such is the wonder of maths in economics).

Nash equilibria can be daunting at first (I agree that Game Theory is still daunting), but it's a simple enough concept. However, when you have MIXED strategy games, then you may as well throw the book out of the window it starts getting hard. D2 on Edexcel covers a lot of Game Theory, from a mathematical point of view it's been really useful!

Nash equilibrium is a simple concept in game theory. In A2, it confuses people but if you go to the link I sent you and watch videos under Nash Equilibrium, you will find that it is quite easy to understand and the videos teaches you stuff above A-level Nash Equilibrium.

Isn't the maths behind it meant to be complicated?

Isn't the maths behind it meant to be complicated?

Yeah I know! This is what I love about Economics. Using maths to explain and solve the economic problems. Game Theory is almost like a psychological way express in maths Have you done D2? I am doing D2 next year and I have looked at the game theory in it. Game theory in D2 only goes a bit further than prisoners dilemma. I think majority stuff in D2 is covered in Video 1 and 2.

Isn't the maths behind it meant to be complicated?

Exactly, that's why I love it! Game Theory is so diverse, you have pure and mixed strategies, and then play-safes, reductions, all sorts really! It's quite good in modelling an duopolistic market, having one firm against the other. I haven't done D2, I might do it this year, I have the D2 textbook, but the game theory chapter fascinated me so I researched it and decided it would be good to talk about, as long as I can show some skill. D2 doesn't go very deep, it sticks to the mathematical side, doesn't mention Nash equilibria in my textbook so there we go!



The maths does begin to get complicated after a while, when you have to assign probabilities to actions, I was reading 'Game Theory and Public Policy' and it's mindblowingly in-depth, but some of it is very difficult to understand!

Oo interesting! Btw, what textbook you using for D2? My teacher only print out lots of sheet for different topic. I am doing AQA. Thanks

I understand most of you will be talking about macroeconomics in your statement, possibly?

I'm more attracted to micro(after reading a few books), I'm thinking of talking about monopolies in my PS, is this ok or shall I lean more towards theories?


cheers

I understand most of you will be talking about macroeconomics in your statement, possibly?

I'm more attracted to micro(after reading a few books), I'm thinking of talking about monopolies in my PS, is this ok or shall I lean more towards theories?


cheers

your advised to talk about what you are interested in!!

Thanks

when talking about it, am I meant to express how I feel about it(it being something read in a book)?

Thanks

when talking about it, am I meant to express how I feel about it(it being something read in a book)?

when you say how you feel the best answer is probably yes and no.

by this i mean don't say 'i am fascinated by...' but do go into detail like 'i find it intriguing that...'

They are one and the same thing and cliche phrases like that are best avoided in my opinion.