MSFS-533 Quantitative Analysis in Decision Making
Spring for 2016-2017
Quantitative Analysis in Decision Making is an introduction to modeling, analyzing and solving situational decision problems under risk. Decision making for planning, policy and resource allocation relies increasingly on quantitative analysis. Through use of the Case Study Method to develop good reasoning and modeling skills, students will be able to analyze, understand and solve problems and begin to develop professional insight into a variety of situations that arise in today’s social, business and public-sector settings. The class will enable the student to support policy positions and recommendations with meaningful analysis, and will include the study of Decision Trees, Cognitive Decision Theory, Risk Identification and Mitigation, Monte Carlo Simulations, Ethical Decision Making, Big Data Analysis and Visualization, and Graphical Representation of Data. Microsoft Excel will be used to model and solve many of these problems.
Class meetings will include extensive use of outside reading materials (no textbook is envisioned), group projects (during class meetings and outside class) as well as guest speakers. One or two classes will be in involved field visits to observe the ways businesses and government entities use data analytics to solve problems.
Credits: 3 credits
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