IITM BS Game Theory and Strategy (BSMS4023): Syllabus and Tips

Game Theory and Strategy (BSMS4023) is a 4 credit degree level elective in the IITM BS Data Science programme, at level 4. It uses simple mathematical models to study how people and firms make choices when the result depends on what others do. It has no prerequisite. It is one of the three courses in the Minor in Economics and Finance.

The course page lists two instructors from the Department of Economic Sciences, IIT Kanpur: Dr. Bikramaditya Datta, who also teaches Corporate Finance, and Vimal Kumar, who also teaches Managerial Economics.

What the course aims to do

The course page gives two aims. You learn to think about social and economic life through mathematical models. You also learn how game theory helps with problems in the information economy.

What you learn

The course page lists 12 weeks.

Weeks 1 to 5: The core tools

After the general principles, you spend two weeks on games where players move at the same time. Week 4 covers games where players move one after another. Week 5 combines both types and brings in mixed strategies, where a player chooses moves at random with set chances.

Weeks 6 to 8: Games in society

Week 6 is on evolutionary game theory. Week 7 covers matching problems and the Gale-Shapley algorithm, which pairs up two groups so that no pair would rather break away. Week 8 looks at voting, information cascades and Arrow's impossibility theorem.

Weeks 9 and 10: Sharing fairly

These weeks cover cooperative games and Shapley values, then fair division and bankruptcy problems. The question is how to split a gain or a loss among many people in a fair way.

Weeks 11 and 12: Auctions and networks

You finish with auctions and network effects.

How it is assessed

The course page does not list its own assessment pattern. It points to the standard course structure on the programme's Academics page, so check there for quiz and exam details.

Where it counts

• The handbook's course table lists it as an L4 course tagged HM/BD. See the DS electives list.
• It is part of the Minor in Economics and Finance, with Corporate Finance and Managerial Economics. The handbook notes this course was already an elective before the minor came in. A minor is given only with the BS degree.
• The BS degree level needs 2 level 4 or higher data science stream courses, and 4 HS/MG credits. BD seems to mean the data science stream, but the handbook does not say how a course with two tags is counted. Confirm with support.
• The March 2026 table marks it as running in May 2026 and September 2026, but not in January 2027.
• The ES handbook also lists it (as MS4023) among Data Science courses open to Electronic Systems students.

Who finds it hard

• Students who expect a light management course. This is a maths style course with definitions, payoff tables and careful reasoning.
• Students weak in probability. Mixed strategies and some auction ideas depend on expected values.
• Students who only watch lectures. Game theory makes sense only when you solve many small games yourself.

How to prepare

• Revise probability and expected value from Statistics 1. Our Statistics 1 and 2 guide can help.
• Solve a few two player games on paper each week. Write the payoff table, then find the best reply of each player.
• Code the Gale-Shapley algorithm in Python after week 7. It is short, and writing it will fix the idea in your head.
• The suggested books are Games of Strategy by Dixit and Skeath, Insights into Game Theory by Gura and Maschler, and Networks, Crowds and Markets by Easley and Kleinberg.

What to take before and after

Nothing is required first. Managerial Economics (BSMS3033) gives useful background on markets and firms. Corporate Finance (BSMS3034) completes the minor. Since the table skips January 2027, plan this course for a May or September term.

Common questions

Is Game Theory and Strategy mostly maths or mostly economics?

It sits between the two. The page describes it as building mathematical models of social and economic life. Expect definitions and step by step reasoning next to real examples like voting and auctions.

Can I take it without doing the other two minor courses?

Yes. It is a normal degree level elective with no prerequisite. The minor is given only if you also finish Corporate Finance and Managerial Economics and complete the BS degree.

Is it a level 4 course even though the page just says degree level?

Yes. The course page says "Degree Level Course", while the handbook table marks it L4_DEGREE. Its 4xxx code also shows level 4, which matters for the BS level rules.