Undergraduate Course: Decision-Making under Uncertainty (BUST10013)
Course Outline
| School | Business School |
College | College of Humanities and Social Science |
| Course type | Standard |
Availability | Available to all students |
| Credit level (Normal year taken) | SCQF Level 10 (Year 3 Undergraduate) |
Credits | 20 |
| Home subject area | Business Studies |
Other subject area | None |
| Course website |
None |
Taught in Gaelic? | No |
| Course description | Methods for decision making under uncertainty: topics from stochastic programming, probabilistic dynamic programming, Markov processes and decision theory, with applications. |
Entry Requirements (not applicable to Visiting Students)
| Pre-requisites |
Students MUST have passed:
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Co-requisites | |
| Prohibited Combinations | |
Other requirements | Pre-requisite: Business Studies Honours entry.
Note: For Economics with Management Science, and Mathematics and Business Studies programmes EITHER Mathematical Programming (BUST10011) OR Decision Making Under Uncertainty is a mandatory course in Year 4. |
| Additional Costs | None |
Information for Visiting Students
| Pre-requisites | Business Studies Honours entry equivalent
|
| Displayed in Visiting Students Prospectus? | Yes |
Course Delivery Information
| Not being delivered |
Summary of Intended Learning Outcomes
Objectives/Learning Outcomes
Knowledge & Understanding
On completion of the course students should:
a) be able to discuss critically the practical use of the techniques covered;
b) be able to use the modelling techniques covered to structure management problems;
c) be able to solve models built using the techniques covered;
d) be able to make inferences about a management problem based on the solution of a model built using the techniques covered.
Cognitive Skills
On completion of the course students should:
a) demonstrate that they can identify which of the techniques covered is most suitable for a management problem;
b) demonstrate that they can discuss the results of their analysis of a management problem in written reports.
Key Skills
On completion of the course students should:
a) demonstrate that they can build and analyse a model of a real world management problem involving uncertainty;
b) demonstrate their ability to apply their computer skills to support the analysis of a management problem involving uncertainty;
c) demonstrate that they can present the findings of a quantitative analysis in a concise written report.
Subject Specific Skills
On completion of the course students should:
a) have developed their modelling skills. |
Assessment Information
One project on Markov decision processes 30%; final degree exam 70%
Visiting Student Variant Assessment
One project on Markov decision processes 50% and one essay (min 3,000 words) 50%. |
Special Arrangements
| None |
Additional Information
| Academic description |
Not entered |
| Syllabus |
Not entered |
| Transferable skills |
Not entered |
| Reading list |
Not entered |
| Study Abroad |
Not entered |
| Study Pattern |
Not entered |
| Keywords | DMU |
Contacts
| Course organiser | Dr Tom Archibald
Tel: (0131 6)50 4604
Email: |
Course secretary | Ms Patricia Ward-Scaltsas
Tel: (0131 6)50 3823
Email: |
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