Quant. Decision Making & Optimisation (BISY90017)

Graduate courseworkPoints: 12.5On Campus (Parkville)

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Overview

Availability(Quotas apply)
September
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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: 6 March 2025

Eligibility and requirements

Prerequisites

Admission into or selection of one of the following:

  • 212PN Master of Business Administration
  • MC-BA Master of Business Administration
  • MC-BA218 Master of Business Administration
  • MC-BAEV Master of Business Administration
  • MC-BAOL Master of Business Administration
  • MC-BAPROF Master of Business Administration (Professional)
  • MC-BAPT Master of Business Administration
  • MC-BAPTME Master of Business Administration
  • 794NF Juris Doctor/Master of Business Administration
  • MC-BAMKTG Master of Business Administration/Master of Marketing
  • MC-BUSAIS Master of Business Administration/Master of Information Systems

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: 6 March 2025

Assessment

DescriptionTimingPercentage

Mid-term test

  • 1.5 hours
Week 520%

Syndicate assignment (equivalent to individual 500 words assessment)

  • 500 words (each)
Week 830%

Final examination

  • 3 hours
Hurdle requirement: Students are required to pass the exam to pass the subject		End of the teaching period50%

Last updated: 6 March 2025

Quotas apply to this subject

Dates & times

  • September
    Mode of deliveryOn Campus (Parkville)
    Contact hours30 hours
    Total time commitment150 hours
    Pre teaching start date15 September 2025
    Pre teaching requirementsstudents are required to complete approximately 15 hours of reading to prepare for the subject during pre-teaching period
    Teaching period22 September 2025 to 27 November 2025
    Last self-enrol date20 July 2025
    Census date10 October 2025
    Last date to withdraw without fail 7 November 2025
    Assessment period ends 4 December 2025

What do these dates mean

Visit this webpage to find out about these key dates, including how they impact on:

  • Your tuition fees, academic transcript and statements.
  • And for Commonwealth Supported students, your:
       -  Student Learning Entitlement. This applies to all students enrolled in a Commonwealth Supported Place (CSP).
     

    Subjects withdrawn after the census date (including up to the ‘last day to withdraw without fail’) count toward the Student Learning Entitlement.

Last updated: 6 March 2025

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: 6 March 2025