Degree in Management of Business and Technology La Salle Campus Barcelona

Degree in Management of Business and Technology

Internationality, technology, innovation, creativity, entrepreneurship, values, and both people and team management are the keys to define this degree. Includes international stages.

Methods of Decision Analysis

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Description
A course on quantitative methods is offered in a wide variety of disciplines, from the social sciences to business to the natural sciences. The same statistical methods are applied across disciplines. Therefore, it should not be surprising that the tools you will learn to use in this course will benefit you in your future courses and careers regardless of whether your career interest is Finance, Accounting, Strategy, Management or Marketing. In this course you will learn many interesting methods for making healthy decisions as managers of the future. Methods of Decision Analysis is not about memorizing formulas. Instead, it is about recognizing the appropriate method to perform in each situation. This requires practice on the part of the student. As we cover the topics, if you do not have a clear understanding of one topic it is wise to seek help immediately. The next topic will build upon the previous one.
Type Subject
Tercer - Obligatoria
Semester
Second
Course
2
Credits
4.00

Professors

Albert Cubeles Màrquez
Albert Cubeles Màrquez
Chloé Mayer
Andrew Ashton
Andrea Gastón Codony
Previous Knowledge

Basic knowledge about statistics and probability.
Basic knowledge about calculus.

Objectives

This course is intended to develop a basic understanding of the different quantitative methods that allow to create models for decision making. Learning Outcomes of this subject are:
- Know terminology, notation and methods from quantitative research, concretely those related to inference.
- Able to analyze and summarize information from lectures and materials provided by the teacher.
- Choose the statistical method to solve any economic problem.

Contents

These are the topics that will be covered during the course:
First part
1.- Probability Review
2.- Conditional probability and Bayes' Theorem
3.- Decision Trees
Second part
4.- Multi-Criterion Decision Making
5.- Time discounting and Net Present Value
6.- Risk, Rationality and Utility
7.- Game Theory

Methodology

Weekly teaching will consist of one lecturing session to explain basic concepts and group problem solving in class to apply knowledge to practical situations. Practice sessions are for problem solving and practical case.

Evaluation

Continuous assessment has the following evaluation structure:
Practical case - first part-Midterm 30%: Statement, resolution, and presentation
Practical case - second part-Final 30%: Statement, resolution, and presentation
Individual assignments grade 30%: 3 homework
Attendance, participation, and classwork 10%: Class deliverables
To incorporate the practical case and group grades to the evaluation scheme, the average of the grade of individual assignments must be 4 or above. The assessment of the practical case will be as follows:
1. Statement: originality and degree of application (10%)
2. Resolution of the exercise: (60%) - 20% each part
3. Conclusions (10%)
4. Explanation of the cases (20%)

Evaluation Criteria
Basic Bibliography

"Decision Analysis for Management Judgment". Paul Goodwin and George Wright. Wiley 2009.

Additional Material