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-445-0 OR DECS-450-0

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
2019-2020 Fall 2019 10 Weeks MECN-451-0 Decision Making and Modeling 31 1 Al-Najjar, Nabil Mon/Thu 1:30 PM - 3:00 PM Evanston Global Hub (2110) Y In-person, proctored exam. Multiple times available December 7 - December 11. Registration required.
2019-2020 Fall 2019 10 Weeks MECN-451-0 Decision Making and Modeling 32 1 Al-Najjar, Nabil Mon/Thu 3:30 PM - 5:00 PM Evanston Global Hub (2110) Y In-person, proctored exam. Multiple times available December 7 - December 11. Registration required.
2019-2020 Fall 2019 10 Weeks MECN-451-0 Decision Making and Modeling 81 1 Al-Najjar, Nabil Tue 6:00 PM - 9:00 PM Chicago Wieboldt (207) Y