02 March 2011

Game Theory in Macroeconomics?


I am curious.

Today, I attended a quiz in Macroeconomics... There were ten multiple choice questions, 5 questions that required very short answers and a graph to draw. I, of course, didn't prepare one bit for the exam...as usual.

I set out like solving a Hindu Crossword. For example, there were two questions with similar options.

If A = B, then C or D
If A = 1- B, then C or D

Picked same answer for both in the sense that one of them would be right. The person who corrects it would be obviously confused... 'how could even the dunderhead-est student possibly think that both questions could have the same answer?' ...but that's game theory for them right there. I was somehow trying to get that one mark, one way or the other :)

Even when I worked out what each word in the question paper meant (big bang theory helped. seriously.) and worked out what the answer could be (in vain, of course), it took me about 30 minutes to complete everything - yet, I was the third or fourth student to leave the room.

If one didn't know anything, that's the maximum effort one could have put in the exam hall - 40 minutes (giving 10 more minutes for slow readers). On the other hand, if one knew everything, he would have left in ten minutes or so. So, leaving out the people who give up and leave immediately, the majority of the batch should have left the exam hall between 10 and 40 minutes. But they didn't. They stayed on.

Oh, I never understand these humans.

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