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Quant. Decision Making & Optimisation (BISY90017)
Graduate courseworkPoints: 12.5On Campus (Parkville)
About this subject
- Overview
- Eligibility and requirements
- Assessment
- Dates and times
- Further information
- Timetable(opens in new window)
Contact information
Overview
Availability(Quotas apply) | October |
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Fees | Look up fees |
There are numerous mathematical methods used to obtain efficient solutions to a large variety of complex business problems. This subject provides students with the ability to formulate a business problem as a mathematical model, and then to use quantitative techniques to identify a solution to the model. Topics covered include linear programming, duality, integer programming, mixed integer programming, non-linear programming, Monte Carlo simulations, decision trees, expected value of perfect information, sample information and control, and sensitivity analysis.
Intended learning outcomes
On completion of this subject, students should be able to:
- Recognise when business problems can be quantitatively modelled, and then formulate suitable models for those problems.
- Understand the most relevant methods, and the limitations and trade-offs between different methods required to solve these models.
- Perform optimisation techniques to analyse how constraints affect the achievement of business objectives.
- Use sensitivity analysis to identify the level of tolerance permissible in managerial decision making.
- Evaluate the role of risk and uncertainty in managerial decision making, with regard to the quantity and quality of information available for analysis
Last updated: 3 November 2022
Eligibility and requirements
Prerequisites
Enrolment in one of the Master of Business Administration courses and completion of 112.5 credit points of core subjects and 70% or above in the subject Data Analysis
Corequisites
None
Non-allowed subjects
None
Inherent requirements (core participation requirements)
The University of Melbourne is committed to providing students with reasonable adjustments to assessment and participation under the Disability Standards for Education (2005), and the Assessment and Results Policy (MPF1326). Students are expected to meet the core participation requirements for their course. These can be viewed under Entry and Participation Requirements for the course outlines in the Handbook.
Further details on how to seek academic adjustments can be found on the Student Equity and Disability Support website: http://services.unimelb.edu.au/student-equity/home
Last updated: 3 November 2022
Assessment
Additional details
Mid-term test (1.5 hours)Week 520% Syndicate assignment (equivalent to individual 500 words assessment)Week 830% Final examination (3 hours, hurdle requirement)End of term50%Last updated: 3 November 2022
Quotas apply to this subject
Dates & times
- October
Mode of delivery On Campus (Parkville) Contact hours 30 hours Total time commitment 150 hours Pre teaching start date 28 September 2019 Pre teaching requirements students are required to complete approximately 15 hours of reading to prepare for the subject during pre-teaching period Teaching period 5 October 2019 to 2 November 2019 Last self-enrol date 30 September 2019 Census date 11 October 2019 Last date to withdraw without fail 25 October 2019 Assessment period ends 8 November 2019
Last updated: 3 November 2022
Further information
- Texts
Prescribed texts
There are no specifically prescribed or recommended texts for this subject.
- Available to Study Abroad and/or Study Exchange Students
This subject is available to students studying at the University from eligible overseas institutions on exchange and study abroad. Students are required to satisfy any listed requirements, such as pre- and co-requisites, for enrolment in the subject.
Last updated: 3 November 2022