Course Catalog and Schedule



Decision Making and Modeling (MECN-451-0)
1.00 Credit
TCE BidStats

Description:

**This course was formerly known as DECS-450-0**

This course introduces fundamental concepts and modeling tools for decision making under uncertainty. The pedagogical approach combines business cases, conceptual frameworks of probability and risk analysis, and spreadsheet modeling of managerial decision problems. The course will also provide you with training in state-of-the-art Palisade's DecisionTools Suite to perform and interpret Monte Carlo simulation and decision tree models. Among the concepts discussed in depth are the value of information, option value, selection bias, herd behavior, risk aversion, and the “flaw of averages.'' The concepts and tools are illustrated using business applications in the areas of economics, strategy, operations, and finance.

For more information about the course content, recent syllabus, and TCEs, please click here.




Negative Requisites:
Full-Time: DECS-450-0
E&W: DECS-433-0 OR DECS-436-0 OR DECS-445-0 OR DECS-450-0

Download Schedule Information
Command item
  
Academic Year Term   Session Course ID Title Sec ID   Credits Syl Instructor Times Campus Location Mand 1st Exam
2017-2018 Fall 2017 10 Weeks MECN-451-0 Decision Making and Modeling 61 1 Al-Najjar, Nabil Mon/Thu 1:30 PM - 3:00 PM Evanston Global Hub (2110) Y Confirm final deliverables with professor and syllabus.
2017-2018 Fall 2017 10 Weeks MECN-451-0 Decision Making and Modeling 62 1 Al-Najjar, Nabil Mon/Thu 3:30 PM - 5:00 PM Evanston Global Hub (2110) Y Confirm final deliverables with professor and syllabus.
2017-2018 Spring 2018 10 Weeks MECN-451-0 Decision Making and Modeling 30 1 Al-Najjar, Nabil Tue 6:00 PM - 9:00 PM Chicago TBD (Room TBA) N