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:
|
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 | Visiting students should have at least 3 Business Studies/Management courses at grade B or above (or be predicted to obtain this). We will only consider University/College level courses.
|
| Displayed in Visiting Students Prospectus? | Yes |
Course Delivery Information
|
| Delivery period: 2011/12 Semester 1, Available to all students (SV1)
|
WebCT enabled: Yes |
Quota: None |
| Location |
Activity |
Description |
Weeks |
Monday |
Tuesday |
Wednesday |
Thursday |
Friday |
| Central | Lecture | | 1-11 | | 16:10 - 18:00 | | | |
| First Class |
Week 1, Tuesday, 16:10 - 18:00, Zone: Central. 7 George Square, Room F21 (First Floor 21) |
| Additional information |
There will be 4 optional review tutorials: Thursdays 15.00-15.50 on 20 October, 3 November, 17 November and 1 December in 7 George Square, Room F21. |
| Exam Information |
| Exam Diet |
Paper Name |
Hours:Minutes |
|
|
| Main Exam Diet S2 (April/May) | | 2:00 | | |
|
| Delivery period: 2011/12 Semester 1, Part-year visiting students only (VV1)
|
WebCT enabled: No |
Quota: None |
| Location |
Activity |
Description |
Weeks |
Monday |
Tuesday |
Wednesday |
Thursday |
Friday |
| Central | Lecture | | 1-11 | | 16:10 - 18:00 | | | |
| First Class |
Week 1, Tuesday, 16:10 - 18:00, Zone: Central. 7 George Square, Room F.21 (First Floor 21) |
| Additional information |
There will be 4 optional review tutorials: Thursdays 15.00-15.50 on 20 October, 3 November, 17 November and 1 December in 7 George Square, Room F21. |
| No Exam Information |
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: T.Archibald@ed.ac.uk |
Course secretary | Ms Patricia Ward-Scaltsas
Tel: (0131 6)50 3823
Email: Patricia.Ward-Scaltsas@ed.ac.uk |
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