One of the most important responsibilities of managers in businesses is to make decisions. Today's competitive conditions require that optimal decisions be supported by numerical methods. The aim of this course is to gain the knowledge and skills to formulate a problem encountered in decision making, to establish the mathematical model, to obtain the solution from the model, to check and evaluate the model and its solution, to apply the obtained solution.
Prerequisite(s)
Course Code Course Name…
Corequisite(s)
Course Code Course Name…
Special Requisite(s)
The minimum qualifications that are expected from the students who want to attend the course.(Examples: Foreign language level, attendance, known theoretical pre-qualifications, etc.)
Instructor(s)
Professor Ali Şen, Pınar Sarp
Course Assistant(s)
Schedule
Monday, 16.00-18.00, CATS
Office Hour(s)
CATS CHAT ROOM
Teaching Methods and Techniques
-ppt, verbal lecturing, case studies
Principle Sources
-Taha , H.A. (Çeviri) Yöneylem Araştırması
Çağlar, Nazan,Yöneylem Araştırması, Türkmen kitabevi
Moore,J.H.(2001) Decision Modeling with Microsoft Excel
Other Sources
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Course Schedules
Week
Contents
Learning Methods
1. Week
Components of decision making, decision making without probabilities
Lecture, example using excel and class discussions
2. Week
Maximin,minimax, hurwicz criterion
Lecture, example using excel and class discussions
3. Week
Decision making with probabilities, expected value
Lecture, example using excel and class discussions
4. Week
Expected opportunity loss
Lecture, example using excel and class discussions
5. Week
Decision trees
Lecture, example using excel and class discussions
6. Week
Sequential decision tree analysis
Lecture, example using excel and class discussions
7. Week
Decision trees with posterior probabilities
Lecture, example using excel and class discussions
8. Week
Game theory
Lecture, example using excel and class discussions
9. Week
Markov analysis,states and state probabilities
Lecture, example using excel and class discussions
10. Week
Matrix of transition probabilities, predicting future market shares
Lecture, example using excel and class discussions
11. Week
Absorbing states and fundamental matrix: applications
Lecture, example using excel and class discussions
12. Week
Simulation, Monte Carlo process
Lecture, example using excel and class discussions
13. Week
Statistics analysis of simulation results
Lecture, example using excel and class discussions
Lecture, example using excel and class discussions)
16. Week
Final
Exam
17. Week
Final
Exam
Assessments
Evaluation tools
Quantity
Weight(%)
Midterm(s)
1
40
Final Exam
1
60
Program Outcomes
PO-1
Demonstrates a basic level of understanding in related disciplines (such as economics, sociology, psychology, quantitative sciences, etc.) that form a foundation for business administration, and makes use of and applies them to the field of business.
PO-2
Applies mathematical, scientific and social knowledge to business problems.
PO-3
Demonstrates a basic level of understanding in business functions and management (such as management, production, marketing, accounting, finance, human resources, behavioural sciences, etc.) and interprets the theoretical arguments focusing on interactions between the actors and the cultures in the field.
PO-4
Determines how to use acquired theoretical and practical knowledge and skills related to business in application and field analysis and applies them.
PO-5
Identifies and evaluates the relations in the field of business; describes the problems and presents analytical solutions through modelling and interpreting (critical thinking).
PO-6
Designs a business process in any functional stage that complies with identified objectives.
PO-7
Develops effective business communication skills (written-verbal/formal-informal).
PO-8
Owns effective working skills individually or on a team in business and multidisciplinary fields.
PO-9
Acts with a sense of professional and ethical responsibility.
PO-10
Improves effective verbal and written communication skills in English, and acquires competence in minimum one foreign language.
Learning Outcomes
LO-1
To produce solutions to business problems using decision making techniques
LO-2
Will gain economic data evaluation structure with analytical thinking structure
LO-3
Will learn modeling and estimation by analyzing relations in economic data.
LO-4
To formulate a problem, to establish the mathematical model, to obtain the solution from the model, to check and evaluate the model and its solution, to gain the knowledge and ability to apply the obtained solution.
LO-5
Today's competitive conditions require that optimal decisions be supported by numerical methods.
