ETC4349 - Business simulation
6 points, SCA Band 0 (NATIONAL PRIORITY), 0.125 EFTSL
Undergraduate Faculty of Business and Economics
Leader(s): Associate Professor Ralph Snyder
Clayton Second semester 2009 (Day)
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:
- provide insights into the potential role of simulation methods in supporting business decision making under risk and uncertainty
- develop an understanding of the principles of simulation methods
- inculcate an appreciation of the advantages and disadvantages of various simulation methods
- develop the ability to recognise business problem types that can be approached using simulation
- foster skills needed to build simulation models using computers.
Within semester assessment: 40%
Examination (2 hours): 60%
Two 1-hour lectures and one 2-hour tutorial/laboratory per week