units

ETC3490

Faculty of Business and Economics

18 September 2017 22 November 2024
Monash University

Undergraduate - Unit

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.

print version

6 points, SCA Band 2, 0.125 EFTSL

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LevelUndergraduate
FacultyFaculty of Business and Economics
Organisational UnitDepartment of Econometrics and Business Statistics
OfferedClayton Second semester 2013 (Day)
Coordinator(s)Dr Lee Gordon-Brown, Associate Professor Ralph Snyder

Synopsis

This unit covers modelling of business processes involving risk and uncertainty. It has a particular emphasis on the principles of decision making under risk and the use of Monte Carlo simulation methods for complex business operations. It covers applications in the management of manufacturing and services, including inventory control. Training is provided in the programming language Matlab and the simulation package Simul8.

Outcomes

The learning goals associated with this unit are to:

  1. provide an understanding of the quantitative way of thinking about business problems
  2. enhance analytical skills for problem solving
  3. increase computing skills for business modelling
  4. provide tools for decision making under risk
  5. examine quantitative dimensions of manufacturing and services management.

Assessment

Within semester assessment: 40%
Examination: 60%

Chief examiner(s)

Dr Lee Gordon-Brown

Contact hours

4 hours per week

Prerequisites

ETC2470 or ETC2480

Prohibitions

ETC2490