Monash University Handbook 2010 Undergraduate - Unit

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 goals associated with 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

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

Chief examiner(s)

Mak Kok Sun

Contact hours

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

Prerequisites

ETW2410, ETW2420 or ETW2480

Prohibitions

BUS2020