INTERNATIONAL BURCH UNIVERSITY
Graduate Study - Faculty of Economics and Social Sciences
(3+2) Management Master With Thesis
2014-2015

SYLLABUS
Code Name Level Year Semester
MAN 533 Advanced Decision Making Graduate 1 Spring
Status Number of ECTS Credits Class Hours Per Week Total Hours Per Semester Language
Compulsory 6 3 150 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
Week
Topic
  1. Basic Concepts
  2. Decision Making Under Uncertainty
  3. Decision Trees
  4. Multi Criteria Decision Making
  5. Analytic Hierarchy Process
  6. Analytic Hierarchy Process
  7. Analytic Network Process
  8. Midterm
  9. Fuzzy Logic, Fuzzy AHP
  10. TOPSIS Method
  11. Fuzzy TOPSIS
  12. Goal Programming
  13. Forecasting and Time Series
  14. Paper Presentation
  15. Paper Presentation

LABORATORY/PRACTICE PLAN
Week
Topic

    TEACHING/ASSESSMENT
    Description
    • Practical Sessions
    • Excersises
    • Presentation
    • Assignments
    • Case Studies
    Description (%)
    Method Quantity Percentage (%)
    Homework4
    Midterm Exam(s)120
    Presentation120
    Term Paper120
    Attendance
    Final Exam140
    +Attendance, participation
    Total: 100
    Learning outcomes
    • Describe the steps of the decision-making process and different types of decision-making 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.
    • 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 / Brooks-Cole., ISBN 0-534-42362-0.

    ECTS (Allocated based on student) WORKLOAD
    Activities Quantity Duration (Hour) Total Work Load
    Lecture (14 weeks x Lecture hours per week)14342
    Laboratory / Practice (14 weeks x Laboratory/Practice hours per week) 0
    Midterm Examination (1 week)133
    Final Examination(1 week)133
    Preparation for Midterm Examination11515
    Preparation for Final Examination12525
    Assignment / Homework/ Project41040
    Seminar / Presentation12222
    Total Workload: 150
    ECTS Credit (Total workload/25): 6