Postgraduate Programme and Module Handbook 2019-2020 (archived)
Module BUSI4G215: Decision Making and Business Modelling
Department: Management and Marketing
BUSI4G215:
Decision Making and Business Modelling
| Type |
Tied |
Level |
4 |
Credits |
15 |
Availability |
Available in 2019/20 |
| Tied to |
N1K607 |
| Tied to |
N1K807 |
| Tied to |
N1K507 |
| Tied to |
N1K307 |
| Tied to |
N1KL07 |
Prerequisites
Corequisites
Excluded Combination of Modules
Aims
- To promote a critical awareness and understanding of decision making under uncertainty by introducing a wide range of specialised tools for business modelling, with an emphasis on the application of decision making techniques to operations management.
Content
- Data description and information presentation;
- Probability and probability distribution;
- Statistical inference and market research;
- Correlation and regression;
- Forecasting;
- Inventory control and quality control;
- Risk, uncertainty and decisions;
- Queueing analysis;
- Linear programming.
Learning Outcomes
- Have a detailed knowledge of key concepts in:
- data description;
- probability distribution;
- statistical inference;
- regression analysis; and
- forecasting models.
- Be able to apply probability estimates to help in assessing risk;
- Be able to make time-series forecasts;
- Be able to structure problems involving the choice between alternatives under uncertainty;
- Be able to apply quantitative models for inventory and quality control.
- Written communication; planning, organising and time management; problem solving and analysis; using initiative; computer literacy
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 quantitative techniques and their ability to apply those techniques in a specific business context.
Teaching Methods and Learning Hours
| Activity |
Number |
Frequency |
Duration |
Total/Hours |
|
| Lectures |
9 |
|
2 hours |
18 |
| Seminar/practical classes |
4 |
|
1 hour |
4 |
| Preparation & Reading |
|
|
|
128 |
| 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% |
|
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
