INTERNATIONAL BURCH UNIVERSITY
Graduate Study  Faculty of Economics and Social Sciences
(3+2) Management Master With Thesis
20132014
SYLLABUS 
Code 
Name 
Level 
Year 
Semester 
BUS 564 
Advanced Decision Making 
Graduate 
1 
Spring 
Status 
Number of ECTS Credits 
Class Hours Per Week 
Total Hours Per Semester 
Language 

7.5 

127 
English 
Instructor 
Assistant 
Coordinator 
Ali GÖKSU, Assoc. Prof. Dr. 

Ali GÖKSU, Assoc. Prof. Dr. 
[email protected] 

no email 
COURSE OBJECTIVE 
Decision theory provides a formal framework for making logical choices in the face of uncertainty. Given a set of alternatives, a set of consequences, and a correspondence between those sets, decision theory offers conceptually simple procedures for choice. This course presents an overview of the fundamental concepts and outcomes of rational decision making under uncertainty, highlighting the implications for statistical practice.
Provides a rich collection of techniques and procedures.
Discusses the foundational aspects and modern day practice.
Links foundations to practical applications in economics.
Presents different perspectives and controversies to encourage students to form their own opinion of decision making and statistics. 
COURSE CONTENT 
 Basic Concepts
 Decision Making Under Uncertainty
 Decision Trees
 Multi Criteria Decision Making
 Analytic Hierarchy Process
 Analytic Hierarchy Process
 Analytic Network Process
 TOPSIS Method
 Fuzzy Logic, Fuzzy AHP
 Fuzzy TOPSIS
 Forecasting and Time Series
 Goal Programming
 Paper Presentation
 Paper Presentation

Description 
 Lectures
 Practical Sessions
 Excersises
 Presentation
 Project
 Assignments
 Case Studies

Description (%) 
Project    Midterm Exam(s)   20  Presentation   10  Term Paper   20  Final Exam  1  50  +Project, attendance, participation,...   

Learning outcomes 
 Describe the steps of the decisionmaking process and different types of decisionmaking environments.
 Make decisions under uncertainty when probability values are not known. Make decisions under risk when probability values are known.
 Use Excel to set up and solve problems involving decision tables. Develop accurate and useful decision trees.
 Revise probability estimates using Bayesian analysis.
 Understand the importance and use of utility theory in decision making.

TEXTBOOK(S) 
 Winston, W. Operations Research : Applications and Algorithms , fourth edition (2004) 4th ed. Thomson / BrooksCole., ISBN 0534423620.

ECTS (Allocated based on student) WORKLOAD 
Lecture (14 weeks x Lecture hours per week)  16  3  48  Laboratory / Practice (14 weeks x Laboratory/Practice hours per week)  16  1  16  Midterm Examination (1 week)  1  20  20  Final Examination(1 week)  1  30  30  Preparation for Midterm Examination  1  10  10  Preparation for Final Examination  1  1  1  Assignment / Homework/ Project  1  1  1  Seminar / Presentation  1  1  1 
