This page is for the academic year 2021-22. The current handbook year is 2022-23
Department: Mathematical Sciences
DECISION THEORY III
||Available in 2021/22
- Calculus I (MATH1061), Probability I (MATH1597) and Linear Algebra I (MATH1071).
Excluded Combination of Modules
- To describe the basic ingredients of decision theory, for individuals and for groups, and to apply the theory to a variety of
interesting and important problems.
- Introduction to decision analysis: utility.
- Statistical decision theory: Bayes
- Game theory.
- Influence diagrams, group decisions and social
- By the end of the module students will: be able to solve
novel and/or complex problems in Decision Theory.
- have a systematic and coherent understanding of theoretical
mathematics in the field of Decision Theory.
- have acquired coherent body of knowledge of these subjects
demonstrated through one or more of the following topic areas:
Formulating decision problems and solving decision trees.
- Utility, value of money, multi-attribute utility.
- Use of data in decision making, statistical decision
- Sequential decision making.
- Game theory, including two-person zero-sum games.
- Bargaining, including Nash' theory.
- Group decisions and social choice.
- In addition students will have specialised mathematical
skills in the following areas which can be used with minimal guidance:
Modes of Teaching, Learning and Assessment and how these contribute to
the learning outcomes of the module
- Lectures demonstrate what is required to be learned and the
application of the theory to practical examples.
- Assignments for self-study develop problem-solving skills and
enable students to test and develop their knowledge and
- Formatively assessed assignments provide practice in the
application of logic and high level of rigour as well as feedback for
the students and the lecturer on students' progress.
- The end-of-year examination assesses the knowledge acquired
and the ability to solve predictable and unpredictable
Teaching Methods and Learning Hours
||2 per week for in Michaelmas and Epiphany; 2 in Easter
||Fortnightly in each of terms 1 and 2
|Preparation and Reading
||Component Weighting: 100%
||Length / duration
■ Attendance at all activities marked with this symbol will be monitored. Students who fail to attend these activities, or to complete the summative or formative assessment specified above, will be subject to the procedures defined in the University's General Regulation V, and may be required to leave the University