Faculty of Business and Economics

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Monash University

Monash University Handbook 2011 Undergraduate - Unit

6 points, SCA Band 0 (NATIONAL PRIORITY), 0.125 EFTSL

Refer to the specific census and withdrawal dates for the semester(s) in which this unit is offered.

FacultyFaculty of Business and Economics
OfferedClayton Second semester 2011 (Day)
Coordinator(s)Associate Professor Ralph Snyder


Simulation in a business environment including applications to production and inventory control, finance, investment and sales forecasting; discrete time simulation with Microsoft Excel; queuing theory and discrete event simulation with a special purpose computer package; principles of random number generation and statistical validation methods.


The learning goals associated with this unit are to:

  1. provide insights into the potential role of simulation methods in supporting business decision making under risk and uncertainty
  2. develop an understanding of the principles of simulation methods
  3. inculcate an appreciation of the advantages and disadvantages of various simulation methods
  4. develop the ability to recognise business problem types that can be approached using simulation
  5. foster skills needed to build simulation models using computers.


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

Chief examiner(s)

Lee Gordon-Brown

Contact hours

4 hours per week


ETC2470 or ETC2480