ECON 4850 - Decision Analysis and Simulation

3 Class Hours 0 Laboratory Hours 3 Credit Hours
Prerequisite: Business Majors: Sophomore GPA Requirement and ECON 2300; Non-business Majors: 60 credit hours, ECON 2200, and ECON 2300 or MATH 1107, and permission of the Coles College of Business.
The theory and application of stochastic decision models. Emphasis is on the application of probability and simulation techniques to structure decision problems in business and economics. Topics include measurement of risk, decision processes, decision analysis, and static and dynamic simulation models.