Leader: Dr Tissa Galagedera

Offered

Caulfield Second semester 2008 (Day)

Synopsis

Provides a working knowledge of decision-making tools and techniques applicable to problems arising from business. Various optimisation techniques used in the business decision-making process will be introduced. Includes business modelling with spreadsheets, linear programming models, transportation and assignment models, network models, project-planning and scheduling models. Applications in business, particularly in management, marketing, accounting and finance will be used.

Objectives

The learning goals associated with this unit are to:

• appreciate the relevance of quantitative analytical techniques in solving business decision problems
• formulate business decision problems as mathematical models and lay out as spreadsheet models
• apply tools available in Microsoft Excel and algorithms to generate solutions and interpret the results
• appraise the solutions through the use of sensitivity analysis
• communicate the analysis and results of business decision problems.

Assessment

Within semester assessment: 40%
Examination (2 hours): 60%

Contact hours

Two 1-hour lectures and one 1-hour practical/tutorial per week.

Prerequisites

Students must be enrolled in course codes 3814, 3815, 3816, 3822 or must have passed ETX1100 or equivalent or permission.

Prohibitions

ETF2480.