Monash University Handbook 2010 Undergraduate - Unit

Synopsis

Computer business models in decision making are the primary focus of this unit. Their potential application in controlling operations and supply chains is explored. Mathematical and statistical methods needed in the construction of business models are examined. An introduction is provided to decision making under risk, Monte Carlo simulation, inventory control, replacement theory, multi-level production systems and supply chains. Computing is undertaken with Microsoft Excel. Training is provided in the programming language Visual Basic for Applications to extend the capacities of Microsoft Excel.

Objectives

The learning goals associated with this unit are to:

• provide an understanding of the quantitative way of thinking about business problems
• enhance analytical skills for problem solving
• increase computing skills for business modelling with spreadsheets
• provide tools for decision making under risk
• examine the quantitative dimensions of logistics and supply chain management.

Assessment

Within semester assessment: 30%
Examination (2 hours): 70%

Chief examiner(s)

Ralph Snyder

Contact hours

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

Prerequisites

ETC1000

Prohibitions

ETC3480