ISyE 6230 -- Economic Decision Analysis II
Spring 2003


Instructor Pinar Keskinocak
Office ISyE 408 (Groseclose building)
E-mail pinar@isye.gatech.edu
Phone 404-894-2325
Teaching Assistant Martin Smith  (email: gtg593d@prism.gatech.edu)
TA Office Hours and Location Monday 12:00-1:30   Wednesday 2:00-3:00
ISYE 303      ISYE 403
Class meeting location IC 215
Class meeting times Tuesday-Thursday 12:05-1:25pm

 



 
 


Homework assignments




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Syllabus

ISyE 6230 -- Economic Decision Analysis II
Spring 2003


Instructor Pinar Keskinocak
Office ISyE 408 (Groseclose building)
E-mail pinar@isye.gatech.edu
Phone 404-894-2325
Class meeting location IC 215
Class meeting times Tuesday-Thursday 12:05-1:25pm
Teaching assistants Martin Smith  (email: gtg593d@prism.gatech.edu)
Office hours of the TAa and Location Monday 12:00-1:30   (ISYE 304) 
Wednesday 2:00-3:00 (ISYE 403)
Course page http://www.isye.gatech.edu/people/faculty/Pinar_Keskinocak/teaching/
isye6230-spring2003/course-page.htm

COURSE DESCRIPTION AND OBJECTIVES

In this course we will study the interactions between multiple players (decision makers), such as suppliers, manufacturers, retailers, consumers, etc., and the resulting dynamics in a market environment. Our focus will be on the strategic behavior of the players in the market and the impact of the market (or contract) structure on the participant's actions and the overall market dynamics. In making a decision, each player acts on self-interest, e.g., tries to maximize its own profit, and therefore has to consider the potential responses/reactions of other players. Typical decisions of manufacturers and suppliers include quantity to produce and sell, and pricing. Typical decisions of consumers include what to purchase, from which vendor, and how much.

The strategic interaction of a firm with its competitors, customers and suppliers can be modeled as a game, and hence, our main tool of analysis in this course will be Game Theory. To identify its own strategy, each firm needs to understand how other firms or customers form their strategies and expectations. Given an understanding of other players' behavior, each player can then form its one’s own best response strategy.

Course goals will be accomplished through lectures, homework and readings. Lectures will generally emphasize the theoretical aspects of the field, and homework will focus on problem solving skills. Guest lectures, videos and classroom games may complement the class material and help you to connect theory with practice.

COURSE TOPICS

The course  deals with strategic decision making in reactive environments by groups and organizations when there are multiple interested parties (with different objectives and options). Topics to be covered include:

Pre-requisites

ISYE 6669 (Deterministic Optimization)

GRADING

Students are responsible for all announcements made in class and for all changes in the schedule that are posted on the class website.

Homework: All homework assignments will be required. Only a (randomly selected) subset of problems will be graded in some of the homework, and your grade will be based on your work in that subset. Depending on their length and difficulty, the total number of points in each homework might vary. Some homework assignments may be based on case studies. Students can discuss the assignments, but every student must turn in his/her own written solutions in his/her own words. Homework is meant to be a learning tool. If you are having difficulty, find help right away – don’t wait until you fall even further behind! Good sources of help are fellow students, teaching assistants, and I.
Homework will be posted on the course website with associated due dates. Late assignments carry no credit..  None of the homework will be dropped, so please make every attempt to submit all homework assignments on time.

Midterm Exams: The midterm exams will be held on or about February 11 and March 20. Exact dates will be announced closer to each exam. Each midterm exam will be cumulative, i.e., will include all the topics covered in class since the beginning of the semester until the time of the exam. In-class exams will be closed book, closed notes and must be done individually.

No makeup exams will be given under any circumstances!  If you have to miss an exam (for whatever reason), you will receive a grade of “0” for that exam unless your have a doctor’s documentation of illness or official travel documentation for Georgia Tech business.

Final Exam: The final exam will be on April 28 at 8am.

Grading: Homework assignments and projects will account for 25% of your total grade. Depending on their length and difficulty, homework assignments might carry different weights. The exams will contribute 75% to your final grade. None of the homework grades will be dropped, so please make every attempt to submit all homework assignments.