Undergraduate - UnitETW3480 - Decision analysis for managers

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

Synopsis

This subject covers computer models of business operations, how they are built, and the way they are used in decision-making. The principles of decision-making under risk and the Monte Carlo simulation method are introduced and applied, together with other quantitative methods, to a range of problems in supply chain management. A training in more advanced aspects of Microsoft Excel is provided with a particular emphasis on the use of Visual Basic for Applications to customise spreadsheet models.

Outcomes

The learning goals associated with this unit are to:

1. expand the understanding of quantitative methods in business
2. enhance analytical skills for problem solving
3. increase computing skills for business modelling with spreadsheets
4. provide a better understanding of common problems in business and the impact of risk.

Assessment

Within semester assessment: 30%
Examination (2 hours): 70%

Chief examiner(s)

Mak Kok Sun

Contact hours

4 hours per week

Prerequisites

ETW2410, ETW2420 or ETW2480

Prohibitions

BUS2020