Undergraduate - UnitETC2470 - Applied business modelling

This unit entry is for students who completed this unit in 2013 only. For students planning to study the unit, please refer to the unit indexes in the the current edition of the Handbook. If you have any queries contact the managing faculty for your course or area of study.

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6 points, SCA Band 2, 0.125 EFTSL

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Level	Undergraduate
Faculty	Faculty of Business and Economics
Organisational Unit	Department of Econometrics and Business Statistics
Offered	Not offered in 2013
Coordinator(s)	Associate Professor Ralph Snyder

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.

Outcomes

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: 70%

Chief examiner(s)

Associate Professor Ralph Snyder

Contact hours

4 hours per week

Prerequisites

ETC1000

Prohibitions

ETC3480