ECON 4850 - Decision Analysis and Simulation

3 Credit Hours 3 Class Hours 0 Laboratory Hours
Prerequisites Business Majors: Sophomore GPA Requirement and ECON 2300; Non business Majors: 60 credit hours including ECON 2200 and ECON 2300 or MATH 1107 and permission of department chair.
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.