6 points, SCA Band 2, 0.125 EFTSL
Undergraduate - Unit
Refer to the specific census and withdrawal dates for the semester(s) in which this unit is offered.
Department of Econometrics and Business Statistics
- Second semester 2017 (Day)
This is a software-oriented subject intended to provide a working knowledge of decision-making tools and techniques applicable in a business environment. Various optimisation techniques used in managerial decision-making will be introduced. Topics include business modelling with spreadsheets, linear programming models, transportation and assignment models, inventory control models, network models, project planning and scheduling models. Applications in management, marketing, accounting, finance and related fields are emphasised.
The learning goals associated with this unit are to:
- appreciate the relevance of quantitative analytical techniques in solving business decision problems
- formulate business decision problems as mathematical models and lay out as spreadsheet models
- apply tools available in Microsoft Excel and algorithms to generate solutions and interpret the results
- appraise the solutions through the use of sensitivity analysis
- communicate the analysis and results of business decision problems.
Within semester assessment: 40% + Examination: 60%
Minimum total expected workload to achieve the learning outcomes for this unit is 144 hours per semester typically comprising a mixture of scheduled learning activities and independent study. Independent study may include associated readings, assessment and preparation for scheduled activities. The unit requires on average three/four hours of scheduled activities per week. Scheduled activities may include a combination of teacher directed learning, peer directed learning and online engagement.
See also Unit timetable information