ETW3480

Decision analysis for managers

Associate Professor Ralph Snyder

6 points · Two 1-hour lectures and one 2-hour tutorial per week · Prerequisite: at least one of ETW2410, ETW2420, ETW2450 or ETW2480 · Prohibition: BUS2020

Objectives On the successful completion of this subject students will understand the quantitative way of thinking about planning and controlling business operations; have acquired computing skills for quantitative business modelling; possess a knowledge of quantitative methods suitable to support decision making under risk and uncertainty.

Synopsis Principles of decision making under risk, decision trees, common probability distributions in business applications, discrete time Monte Carlo simulation, inventory and production control, integer programming, heuristic methods of optimisation; a training in more advanced features of Microsoft Excel, including Visual Basic for Applications (VBA).

Assessment Written (1 assignment [computing and report]): 20% · Weekly exercises: 10% · Examination (2 hours): 70%

Back to the 1999 Business and Economics Handbook