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1. Consider alternative strategies for the Experiment Generator module of In par

ID: 3536499 • Letter: 1

Question

1. Consider alternative strategies for the Experiment Generator module of In particular, consider strategies in which the Experiment Generator suggest new board positions by: o Generating random legal board positions o Generating a position by picking a board state from the previous games, then applying one of the moves that was not executed o a strategy of your own design Discuss the tradeoffs among these strategies. Which do you feel would work best if the number of training examples was held constant, given the performance measure of winning the most games at the world championship?

Explanation / Answer

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In the event of insufficient student demand, or other circumstances, the Department reserves the right not to offer some module options in any given year. In addition, individual module organisers may advise some students against taking certain modules if their background (e.g. in mathematics) is judged to be insufficiently strong.

The module will teach a set of core topics in graduate-level macroeconomics. The focus will be mostly, though not necessarily exclusively, on closed-economy issues. Open-economy and international issues will be covered, or covered more extensively, in the 'International Macroeconomics' module.

Concepts such as rational expectations and dynamic general equilibrium will be widely used. The determination of real variables such as output and employment, and of nominal variables such as inflation and the nominal interest rate, will be studied, as will their interaction. Macroeconomic policy and its potential for improving the operation of the economy will also receive substantial attention.

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The object of the course is to examine the current state of microeconomic theory at several of its frontiers. The course covers theories of consumer and producer behaviour under certainty and uncertainty, general equilibrium theory with complete and incomplete markets, cooperative and non-cooperative games, asymmetric information and rational expectations.

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The course examines the techniques available in applied research for the analysis of micro- level data in the study of economic behaviour and policy problems. The course examines binary choice, multiple choice and ordered response models, limited dependent variable techniques, including censored and truncated regression, selectivity and double hurdle models and switching regression models, and associated diagnostic tests. The applications to labour supply and labour force participation, commodity consumption, durable good ownership and the choice of transport mode, of these models and techniques will be considered. Students must also attend Introductory Econometrics to take this course.

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This module is designed to provide an introduction to elements of microeconomic theory which are applicable to a range of decision-making and policy problems in public and private sectors. The course presents both analytical material and examples of the application of analysis to a range of policy and decision making issues.

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This module is designed to provide an introduction to elements of game theory which are applicable to a range of decision-making and policy problems in public and private sectors. The course presents both analytical material and examples of the application of analysis to a range of policy and decision making issues.

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The aim of this module is to provide an understanding and experience of the application of basic methods of clinical decision analysis to a range of decision problems in health care. In particular it provides a thorough understanding of the way clinical decision analysis can be used to evaluate diagnostic information, provide a framework for the economic evaluation of alternative strategies of patient management, and can also be used to inform allocative decisions about which health care technologies should be adopted and what research may be required to inform these decisions in the future. Only available for students registered for the MSc program in Health Economics and visiting students.

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This course provides the theoretical foundation for asset valuation in continuous time. The content reflects the fast pace of development of finance theory and product innovation in recent times. The course introduces the basic ideas and tools of stochastic calculus and shows how these can be used for asset and derivative valuation in continuous time. The topics covered include: stochastic integration; martingales and equivalent measures and partial differential equation valuation methods.

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This course brings together the relevant theory and practice of finance theory appropriate to the behaviour of firms. Topics to be covered include: corporate financial structure and governance (financing and capital structure and the cost of capital), dividend policy (leverage and taxes, dividends and value) and further topics including mergers and acquisitions, financial distress, leasing and warrants.