Decision Models

Catalog description

This course introduces the basic principles and techniques of applied mathematical modeling via spreadsheets for managerial decision making. Students learn to use some of the more important analytic methods focusing on spreadsheet modeling. Students learn to develop models that can be used to improve decision making within an organization; sharpen their ability to structure problems and to perform logical analyses; translate descriptions of decision problems into formal models and investigate those models in an organized fashion; identify settings in which models can be used effectively and apply modeling concepts in practical situations. The course emphasizes model formulation and interpretation of results and is aimed at undergraduate students with little prior exposure to modeling and quantitative analysis, but it is appropriate for all students who wish to strengthen their spreadsheet and quantitative skills. The emphasis is on models that are widely used in diverse industries and functional areas, including finance, operations, and marketing. Prerequisite(s): FIN 1001 and IDS 1020 ; and IDS 1556 may be taken as a prerequisite or corequisite. Previously offered as INF 2160 .