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Unit of study_

Management Decision Making - QBUS6320

Year - 2020

This unit introduces models and tools for decision analysis and their application in managerial settings. The unit focuses on the use of formal decision methods for management decisions in business. The main goal is to show how these decision models can improve the decision process by helping the decision maker to understand the structure of decisions; use subjective probabilities for measuring risk; analyse the sensitivity of decisions to changing decision parameters; quantify outcomes in accordance with risk attitudes, and estimate the value of information. Special attention is paid to informal interpretations of formal decision approaches.

3hrs of classes (lecture/tutorial) per week

assignment 1 (25%), assignment 2 (25%), final exam (50%)

Assumed knowledge
Basic Algebra, Probability, and Statistics


QBUS5001 or QBUS5002


Faculty: Business (Business School)

Semester 1

24 Feb 2020

Department/School: Business Analytics
Study Mode: Normal (lecture/lab/tutorial) day
Census Date: 31 Mar 2020
Unit of study level: Postgraduate
Credit points: 6.0
EFTSL: 0.125
Available for study abroad and exchange: Yes
Faculty/department permission required? No
Courses that offer this unit

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