Aug 09, 2022  
2020-2021 Graduate Catalog 
    
2020-2021 Graduate Catalog [ARCHIVED CATALOG]

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ECON 7730:Business Intelligence - Risk Management and Decision Analysis

3 Class Hours 0 Laboratory Hours 3 Credit Hours
Prerequisite: ECON 8010  or ECON 7710  
The focus of the course is on the theory and application of quantitative decision models. General topics include basics of spreadsheet modeling, probability and probability distributions (discrete and continuous) and their properties, decision making under uncertainty, and risk analysis. Specific topics to be covered include Monte Carlo Simulation, Decision Trees, and Real Options Analysis. Emphasis is on the formulation, solution, and interpretation of models with application to a variety of business problems, and how quantitative techniques can provide for better decision making. The goal of the course is to learn to implement these tools, including the generation of parameters and the building of models for decision-making. A mixture of cases and in-class demonstrations will be used to develop your skill in applying management science approaches to decision making within a business environment. Throughout the course we will make extensive use of Excel and Excel add-ins, including the Palisade Decision Tools suite.



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