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Durham University

Postgraduate Module Handbook 2021/2022

Archive Module Description

This page is for the academic year 2021-22. The current handbook year is 2022-23

Department: Management and Marketing

BUSI4G2JN: Decision Making and Business Modelling

Type Tied Level 4 Credits 15 Availability Not available in 2021/22
Tied to N2P109J Management (commencing in January) (suspended for 21/22)
Tied to N2P209J Management (Finance) (commencing in January) (suspended for 21/22)

Prerequisites

  • None

Corequisites

  • None

Excluded Combination of Modules

  • None

Aims

  • To promote a critical awareness and understanding of decision making under uncertainty by introducing a wide range of relevant concepts and theories, such as bounded rationality and behavioural economics, and specialised tools for business modelling, with an emphasis on the application of decision making techniques.

Content

  • Rationality and bounded rationality
  • Information symmetry and asymmetry
  • Overview of behavioural economics
  • Optimising x Satisficing
  • Decision making under uncertainty
  • Complexity
  • Data-driven x Intuition
  • Business modelling as a concept and existing tools
  • Explore x Exploit • Innovation management tool(s)
  • Lean, prototyping, piloting, experimentation, hackathon
  • Systemic problems, System design, Leverage points
  • Overview of forecasting, backcasting, and scenario planning
  • Artificial intelligence, machine learning and 4th industrial revolution

Learning Outcomes

Subject-specific Knowledge:
  • Bounded rationality and uncertainty
  • Behavioural economics
  • Innovation management
  • Complexity and system thinking
  • Business modelling
Subject-specific Skills:
  • Be able to understand the complexities and uncertainties of decision-making
  • Be able to understand key principles underpinning decision-making
  • Be able to evaluate complex situations and the means of taking decisions
  • Be able to apply business modelling concepts and tools
Key Skills:
  • Written communication; planning, organising and time management; analysis of complex problems; problem solving and analysis

Modes of Teaching, Learning and Assessment and how these contribute to the learning outcomes of the module

  • Learning outcomes will be met through a combination of lectures, seminars and practical work, supported by guided reading. The summative assessment will comprise a project-based report designed to test students’ knowledge of key concepts and tools and their ability to apply those in a business context.

Teaching Methods and Learning Hours

Activity Number Frequency Duration Total/Hours
Lectures 10 2 hours 20
Seminar/practical classes 4 1 hour 4
Preparation & Reading 126
Total 150

Summative Assessment

Component: Project-based report Component Weighting: 100%
Element Length / duration Element Weighting Resit Opportunity
Project-based report requiring the application of quantitative techniques in a specific business context 2,500 words maximum 100%

Formative Assessment:

Exercise questions prepared in advance of seminars.


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