Course Catalog and Schedule



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

Description:

This course counts toward the following majors: Decision Sciences, Managerial Analytics .

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.

Prerequisites:
All Students: Negative PreRequisite: DECS-433-0 OR DECS-436-0 OR DECS-445-0 OR DECS-438-A OR DECS-430-A OR DECS-430-B

Download Schedule Information

Command item
  
Academic Year Term   Course ID Title Sec ID   Credits Syl Instructor Times Campus Location Mand 1st Exam
2013-2014 Fall 2013 DECS-450-0 Decision Making & Modeling 61 1 Al-Najjar, Nabil Mon/Thu 01:30 PM - 03:00 PM Evanston Jacobs (166) N Friday Dec. 13 @ 8:30 - 11:30 Rm. 160
2013-2014 Fall 2013 DECS-450-0 Decision Making & Modeling 62 1 Al-Najjar, Nabil Mon/Thu 03:30 PM - 05:00 PM Evanston Jacobs (166) N Friday Dec. 13 @ 8:30 - 11:30 Rm. 160