2023
Decision Models
Name: Decision Models
Code: GES14801O
2 ECTS
Duration: 15 weeks/52 hours
Scientific Area:
Management
Teaching languages: Portuguese
Languages of tutoring support: Portuguese
Sustainable Development Goals
Learning Goals
The learning objectives of this curricular unit are the following ones:
* Understand the different elements of a decision problem;
* Learn how to analyze decision problems under uncertainty, dynamic decision problems and multi objectives decision problems;
This unit develops the following competences:
* Decision making skills and ability to solve management problems;
* Abstraction ability, model building and critical thinking;
* Understand the different elements of a decision problem;
* Learn how to analyze decision problems under uncertainty, dynamic decision problems and multi objectives decision problems;
This unit develops the following competences:
* Decision making skills and ability to solve management problems;
* Abstraction ability, model building and critical thinking;
Contents
1. The different approaches to decision making
2. Individual decision making under uncertainty
2.1 The elements and structuring a decision problem
2.4 Expected value and expected utility
2.7 Sequential decision problems and the expected value of information
3. Decision making with multiple objectives
3.1 Objectives and attributes
3.2 Efficient alternatives and tradeoffs among objectives
3.3 Utility function and best alternative
4. Presentation, resolution and discussion of practical examples
2. Individual decision making under uncertainty
2.1 The elements and structuring a decision problem
2.4 Expected value and expected utility
2.7 Sequential decision problems and the expected value of information
3. Decision making with multiple objectives
3.1 Objectives and attributes
3.2 Efficient alternatives and tradeoffs among objectives
3.3 Utility function and best alternative
4. Presentation, resolution and discussion of practical examples
Teaching Methods
The teaching process will be organized in theoretical/practical sessions.
The theoretical component will be predominantly taught with the projection of slides and document sharing. Theoretical concepts are illustrated with practical examples. To streamline the sessions and stimulate the critical meaning of the students, some practical topics will be debated with the students.
The theoretical component will be predominantly taught with the projection of slides and document sharing. Theoretical concepts are illustrated with practical examples. To streamline the sessions and stimulate the critical meaning of the students, some practical topics will be debated with the students.
Assessment
In order to pass, the students must participate in at least 75% of the sessions and obtain a score of more than 10 in an individual test, which will be carried out in a moodle environment.
Certificações
