Part 1: Recommendation of enrichment materials. You do not need to elaborate or analyze. Just mention all the materials that you think are relevant, interesting, and illuminating. Examples include (but not limited to):
Examples from real life, personal experience, movies, literature, history, news, philosophy, psychology, anthropology, animal behavior, etc., that demonstrates, support or contradict the principles we talked about in class.
How do we always win at rock, paper, and scissors? Is it purely a game of chance? Rethink about it.
We all understand how to play this game since we were a little kid. Two opposite participants would simultaneously choose to show one of the three options. It is being called a circular game where one beats …show more content…
The Nash Equilibrium would indicate that both parties choosing randomly, and in long run the net payoff is approximately to zero. However, the game is not as trivial as it looks.
It is not really possible for us to play randomly, and more importantly, not all people could play rationally. If you are observant and careful enough, you could indeed observe/predict your opponent’s move and patterns, and thus play accordingly to win the game.
Studies have found out that men would tend to throw a rock out first as it is seen to be the most dominant and powerful out of the three options. People who exhibit an angry characteristic also prefer rock. People would tend to play paper slightly less than what we usually expected (s Model of Spatial Competition
Lecture notes p.11-14 (Part 4 Sequential)
Just as the lecture has mentioned, have you ever wondered why the gas stations or coffee shops are always build right next to each other but not equally distributed? If they were equally distributed then people would indeed benefit from it as they could find them more conveniently. They do exist as a group with intense competition. Game theory and the Nash Equilibrium have the answer for this and they may assist you in understanding this. They would want to keep their competition as close as …show more content…
I think after showing videos and clips at lectures, some follow-up questions could be included to enhance the impression and clarify concepts. The questions may not be complicated or difficult, but they may be useful in retaining students’ attention and reinforce their concepts. In the Ted video website, both conceptual questions and open-end questions. For instance, “What is a Nash equilibrium?” and “How does a Nash Equilibrium affect consumers?” could help to consolidate the concepts and knowledge that students just learnt. Practice makes perfect.
If the example or the theory being taught in class and the follow up exercise is coherent and matching the content taught, this would induce higher effectiveness of the teaching outcomes.
As a student majoring in Economics, I found some concepts might also be explained during the lectures to enrich students’ horizons (such as students not majoring Economics courses). For instance, I think we could consider to talk about the concept of Pareto efficiency / optimal in addition of explanation for Nash equilibrium. In Economics, we learnt that equilibrium does not necessarily mean that the society is achieving or reaching the efficient
Examples from real life, personal experience, movies, literature, history, news, philosophy, psychology, anthropology, animal behavior, etc., that demonstrates, support or contradict the principles we talked about in class.
How do we always win at rock, paper, and scissors? Is it purely a game of chance? Rethink about it.
We all understand how to play this game since we were a little kid. Two opposite participants would simultaneously choose to show one of the three options. It is being called a circular game where one beats …show more content…
The Nash Equilibrium would indicate that both parties choosing randomly, and in long run the net payoff is approximately to zero. However, the game is not as trivial as it looks.
It is not really possible for us to play randomly, and more importantly, not all people could play rationally. If you are observant and careful enough, you could indeed observe/predict your opponent’s move and patterns, and thus play accordingly to win the game.
Studies have found out that men would tend to throw a rock out first as it is seen to be the most dominant and powerful out of the three options. People who exhibit an angry characteristic also prefer rock. People would tend to play paper slightly less than what we usually expected (s Model of Spatial Competition
Lecture notes p.11-14 (Part 4 Sequential)
Just as the lecture has mentioned, have you ever wondered why the gas stations or coffee shops are always build right next to each other but not equally distributed? If they were equally distributed then people would indeed benefit from it as they could find them more conveniently. They do exist as a group with intense competition. Game theory and the Nash Equilibrium have the answer for this and they may assist you in understanding this. They would want to keep their competition as close as …show more content…
I think after showing videos and clips at lectures, some follow-up questions could be included to enhance the impression and clarify concepts. The questions may not be complicated or difficult, but they may be useful in retaining students’ attention and reinforce their concepts. In the Ted video website, both conceptual questions and open-end questions. For instance, “What is a Nash equilibrium?” and “How does a Nash Equilibrium affect consumers?” could help to consolidate the concepts and knowledge that students just learnt. Practice makes perfect.
If the example or the theory being taught in class and the follow up exercise is coherent and matching the content taught, this would induce higher effectiveness of the teaching outcomes.
As a student majoring in Economics, I found some concepts might also be explained during the lectures to enrich students’ horizons (such as students not majoring Economics courses). For instance, I think we could consider to talk about the concept of Pareto efficiency / optimal in addition of explanation for Nash equilibrium. In Economics, we learnt that equilibrium does not necessarily mean that the society is achieving or reaching the efficient