Type: Compulsory | ECTS: 7.5
Course aim and description
The aim of the course is to provide Master's students with the knowledge and skills required to apply appropriate quantitative methods in business decision-making.
Decision-making is vital to the survival of businesses, and executives who want to succeed, one of the talents they must develop is decision-making. Decision-making is a human process, and to the extent that it is made under conditions of uncertainty, decisions require human judgment. Sometimes, this judgment can be based on learning from past experience. For most simple decisions, this is sufficient. However, with increasing uncertainty and/or an increasing number of independent variables, decisions become more complex and intuitive judgments become less reliable. In this case, reliable methods and tools are needed to help make the wisest decisions among alternative courses of action.
In the context of the course, the concept of decision, the conditions under which decisions are made and the quantitative techniques and tools used will be developed. In addition, developing and solving real business problems will enable students to formulate relevant business problems in a logical way and know when and how to apply appropriate quantitative methods when making business decisions.