A founding father of economic game
theory, Nash is most renowned for his development of the Nash equilibrium, a
theory that can be applied not only to economics, but to an individual's own
life. Nash's theory described a situation involving a game between two
more more players, where no player has anything to gain by changing only his
or her own strategy unilaterally. If each player has chosen a strategy
and no player can benefit by changing his or her strategy while the other
players keep their unchanged, a Nash equilibrium results.
How is a Nash equilibrium resolved? Primarily through mutual
co-operation - choosing strategies that benefit the entire group involved
rather than choosing strategies that only benefit oneself. The number
of examples throughout life when following such a strategy can improve group
dynamics, whether in the classroom or on the playing fields, are countless.
_____________________________________________________________ The Individual and the
Economy (CIE3M)
Grade 11, University/College Preparation
This course examines the changing
Canadian economy and helps students develop an understanding of their own
role as economic agents. Students will apply economic models and
concepts to assess the roles of the various stakeholders in the Canadian
economy and analyse the interactions among them. Students will
consider the economic behaviour of the individual as consumer, contributor,
and citizen in a mixed economy and will apply economic inquiry,
critical-thinking, and communication skills to make and defend informed
economic decisions.
A founding father of economic game
theory, Nash is most renowned for his development of the Nash equilibrium, a
theory that can be applied not only to economics, but to an individual's own
life. Nash's theory described a situation involving a game between two
more more players, where no player has anything to gain by changing only his
or her own strategy unilaterally. If each player has chosen a strategy
and no player can benefit by changing his or her strategy while the other
players keep their unchanged, a Nash equilibrium results. 
This course examines the changing
Canadian economy and helps students develop an understanding of their own
role as economic agents. Students will apply economic models and
concepts to assess the roles of the various stakeholders in the Canadian
economy and analyse the interactions among them. Students will
consider the economic behaviour of the individual as consumer, contributor,
and citizen in a mixed economy and will apply economic inquiry,
critical-thinking, and communication skills to make and defend informed
economic decisions. 