Course Catalog and Schedule

Decision Making and Modeling (DECS-450-0)
1.00 Credit
TCE BidStats

This course presents a normative approach to making decisions in one's personal and professional life. The first half of the course introduces the fundamentals of decision analysis: probabilistic modeling, preference modeling, the five rules of actional thought, decision tree construction and rollback, and the value of imperfect and perfect information. The second half of the course emphasizes the use of these techniques to improve strategic decision-making. Topics include building good decision models, assessing probabilities and ranges, computing risk profiles, judging the sensitivity of decisions to risk attitude and assessed probabilities, and computing the value of better information that improves decisions. The final exam is a take-home case exercise, which students complete using the tools and concepts taught in the course.

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

Negative PreRequisite:
All Students : DECS-433-0 OR DECS-436-0 OR DECS-445-0

Download Schedule Information
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Academic Year Term   Session Course ID Title Sec ID   Credits Syl Instructor Times Campus Location Mand 1st Exam
2015-2016 Fall 2015 10 Weeks DECS-450-0 Decision Making and Modeling 61 1 Al-Najjar, Nabil Mon/Thu 1:30 PM - 3:00 PM Evanston Jacobs (G44) Y
2015-2016 Fall 2015 10 Weeks DECS-450-0 Decision Making and Modeling 62 1 Al-Najjar, Nabil Mon/Thu 3:30 PM - 5:00 PM Evanston Jacobs (G44) Y