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Quant. Decision Making & Optimisation (BISY90017)
Graduate courseworkPoints: 12.5On Campus (Parkville)
For information about the University’s phased return to campus and in-person activity in Winter and Semester 2, please refer to the on-campus subjects page.
About this subject
- Overview
- Eligibility and requirements
- Assessment
- Dates and times
- Further information
- Timetable(opens in new window)
Contact information
Please refer to the LMS for up-to-date subject information, including assessment and participation requirements, for subjects being offered in 2020.
Overview
Availability(Quotas apply) | September |
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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: 31 January 2024
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: 31 January 2024
Assessment
Due to the impact of COVID-19, assessment may differ from that published in the Handbook. Students are reminded to check the subject assessment requirements published in the subject outline on the LMS
Description | Timing | Percentage |
---|---|---|
Mid-term test
| Week 5 | 20% |
Syndicate assignment (equivalent to individual 500 words assessment)
| Week 8 | 30% |
Final examination
| End of the teaching period | 50% |
Last updated: 31 January 2024
Quotas apply to this subject
Dates & times
- September
Mode of delivery On Campus (Parkville) Contact hours 30 hours Total time commitment 150 hours Pre teaching start date 14 September 2020 Pre teaching requirements students are required to complete approximately 15 hours of reading to prepare for the subject during pre-teaching period Teaching period 21 September 2020 to 26 November 2020 Last self-enrol date 19 July 2020 Census date 9 October 2020 Last date to withdraw without fail 13 November 2020 Assessment period ends 3 December 2020
Last updated: 31 January 2024
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: 31 January 2024