BUS 640 - Analytics and Decision Sciences (3)

A course that introduces fundamental concepts and modeling tools for decision making under uncertainty. The learning approach combines business cases, probability and risk analysis within conceptual frameworks, and spreadsheet modeling of managerial decision problems. The course will also provide training to perform and interpret Monte Carlo simulation and decision tree models. Other concepts discussed will include the value of information, option value, selection bias, herd behavior, and risk aversion, among others. The concepts and tools are illustrated using business applications in the areas of economics, finance, operations management, and strategic management.