Monash University Handbook 2010 Undergraduate - Unit

Synopsis

This is a software-oriented subject intended to provide a working knowledge of decision-making tools and techniques applicable in a business environment. Various optimisation techniques used in managerial decision-making will be introduced. Topics include business modelling with spreadsheets, linear programming models, transportation and assignment models, network models, project planning and scheduling models. Applications in management, marketing, accounting, finance and related fields are emphasised.

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%

Chief examiner(s)

Tissa Galagedera

Contact hours

Two 1-hour lectures and 1-hour practice class per week

Prerequisites

ETX1100

Prohibitions

BUS2020, ETC2480, ETW2480