Master of Commerce (Decision, Risk and Financial Sciences) (MC-COMDRFS) // Attributes, outcomes and skills

Intended learning outcomes

1. Learning Goal

Graduates of this degree will undergo rigorous training in and gain a thorough knowledge of human decision-making in the face of uncertainty and complexity, as well as related disciplines, and be able to carry out high quality research in these area.

Learning objectives to achieve this goal

On successful completion of this degree students will be able to:

• Demonstrate an advanced understanding of the major current theories and models of decision making under uncertainty at the level of individuals, small groups and markets;
• Knowledgably describe and critically evaluate the primary financial theories including foundations of finance, investments, and derivatives;
• Knowledgably describe the results of the research devoted to testing the major models and theories of decision-making under uncertainty;
• Critically comment on the results of the research in the field; and
• Develop cognitive, technical and creative skills to generate and evaluate advanced questions in the area of decision-making under uncertainty.

2. Learning Goal

Graduates of this degree have a solid understanding of methods required to conduct state-of-the-art research on decision-making under uncertainty and in the presence of complexity, at the level of individuals, small groups and markets.

Learning objectives to achieve this goal

On successful completion of this degree students will be able to:

• Knowledgably describe research designs and protocols, relevant computational modelling approaches, relevant statistical methods used in this area of research, which includes modelling of behavioural data, neuro-imaging data, and market-level data;
• Determine an appropriate research design and protocol for a research problem on decision- making under uncertainty;
• Determine an appropriate statistical method for a research problem on decision-making under uncertainty;
• Statistically analyse individual behavioural, neuro-imaging and market-level data to determine the answer to a research problem on decision-making under uncertainty.

3. Learning Goal

Graduates of this degree will have demonstrable skills sufficient to carry out independent and sustained research on human decision-making under uncertainty and complexity.

Learning objectives to achieve this goal

On successful completion of this degree students will be able to:

• Apply the necessary analytical skills and techniques to critically assess a range of issues in decision-making, including: A) Develop the research questions necessary to test a model or theory of decision-making under uncertainty or in the presence of complexity; B) Determine appropriate methods for answering the research questions, including an experimental protocol; C) Determine the data needed to conduct the research and manage this information effectively; and D) Determine the feasibility of a research project;
• Manage any research compliance issues arising as part of the research such as human research ethics approval;
• Be familiar and able to use the technological infrastructure required for the research, such as brain-imaging systems or systems for markets experiments;
• Conduct the research using the methods and data they have assessed as being appropriate, including: A) Managing information effectively; and B) Applying quantitative rigor in the assessment and analysis of research issues; and
• Communicate the results of their research in scholarly fashion.

Generic skills

On successful completion of this degree students should have enhanced their skills in:

• Applying theory and methods to knowledgably discuss the importance of a wide range of issues related to decision-making in the presence of uncertainty and complexity at the level of individuals, small groups and large groups such as markets;
• Solving problems related to decision-making in the presence of uncertainty and complexity through the application of the necessary analytical skills and techniques;
• Assessing the importance and relevance of theoretical or empirical research on decision- making in the presence of uncertainty and complexity; and
• Communicating ideas and research in a clear and concise manner.

Graduate attributes