Faculty of Information Technology

Monash University

Undergraduate - Unit

This unit entry is for students who completed this unit in 2015 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

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

FacultyFaculty of Information Technology
OfferedClayton First semester 2015 (Day)


This unit is designed to introduce students to the practical application of decision support systems for finance using modern computer tools. It covers issues associated with the implementation, theory and risk of decision support systems for finance. The aims of this course are to provide a study of the concepts behind decision making; the tools and techniques to support various stages of the decision making process and to explore key factors of successful decision support systems for finance problems and their development methodology. On completion of the unit, students should be able to:

  1. understand the needs of decision makers and apply techniques and tools to support various phases of the decision making process
  2. formulate requirements for simulation and modelling and apply techniques of sensitivity analysis
  3. analyse and design effective decision support systems for finance problems.


At the completion of this unit, students should be able to:

  • assess the potential scope for using decision support systems as part of the solution to an enterprise operational finance problem;
  • describe and explain how to apply decision support systems to help solve the operational finance problems of an enterprise;
  • explain and apply analytic Hierarchy process framework for investment portfolio construction;
  • explain the use of Fuzzy Expert System to represent explicit financial knowledge;
  • explain the selection of artificial intelligent tools to be used for financial decision support.


Examination (2 hours): 60%; In-semester assessment: 40%

Workload requirements

Minimum total expected workload equals 12 hours per week comprising:

(a.) Contact hours for on-campus students:

  • Two hours of lectures
  • One 2-hour laboratory

(b.) Additional requirements (all students):

  • A minimum of 2-3 hours of personal study per one hour of contact time in order to satisfy the reading and assignment expectations.

See also Unit timetable information

Chief examiner(s)


Completion of 24 points of FIT units at level 2


BUS3030, AFF2051, AFW2051

Additional information on this unit is available from the faculty at: