ETW3480 - Decision analysis for managers

Leader: Malaysia: Dr Mak Kok Sun

Offered

Malaysia First semester 2007 (Day)

Synopsis

This subject covers computer models of business operations, how they are built, and the way they are used in decision-making. The principles of decision-making under risk and the Monte Carlo simulation method are introduced and applied, together with other quantitative methods, to a range of problems in supply chain management. A training in more advanced aspects of Microsoft Excel is provided with a particular emphasis on the use of Visual Basic for Applications to customise spreadsheet models.

Objectives

The learning objectives of this unit are to:

• expand the understanding of quantitative methods in business;
• enhance analytical skills for problem solving;
• increase computing skills for business modelling with spreadsheets;
• provide a better understanding of common problems in business and the impact of risk.

Assessment

Written (1 assignment): 20%
Weekly exercises: 10%
Examination (2 hours): 70%

Contact hours

Two 1-hour lectures and one 2-hour tutorial per week

Prerequisites

at least one of ETW2410, ETW2420, or ETW2480

Prohibitions

BUS2020