DE / EN

CC 501 Decision Analysis

Contents:

In this course we discuss methods and concepts that were developed to support and improve rational decision making in various areas of application. We will cover decisions under certainty and risk (EUT), decisions with single and multiple objectives, and decisions given incomplete information about probabilities or preferences. The course also covers descriptive decision theories such as Prospect Theory. An introduction into probability calculus including Bayes Theorem will be given. We will also discuss various visualization techniques such as influence diagrams and decision trees.

Learning outcomes:

After completing the course students will know about rational decision processes, and how to structure and visualize decision problems. They will be able to use decision analysis techniques at an easy level to deal with multiple objectives, risk, intertemporal outcomes and incomplete information. Moreover they will know about typical behavioral findings that conflict with the prescriptive methods.

Prerequisites:         

Formal:                    -

Recommended:  The lecture generally assumes basic knowledge in mathematics calculus,  optimization and statistics (mean, variance, standard deviation).

Obligatory registration: no

Courses                                                     Hours per week            Self-study

 

Lecture                                                                 2                                    6

 

Exercise class                                                      2                                   7

                                                         

ECTS in total                                                                                                                     6

Form of assessment 

Written exam (90 min.)

Preliminary course work

-

Duration of module

1 semester 

Offering

Fall semester and Spring semester

Language

English

 

OPM 741 Research Seminar Operations Management

Contents:

The goal of this seminar is to introduce the participants to conducting scientific research. Thereby, it prepares the students for the writing of their Master thesis. Participants will independently carry out a literature study in the field of operations management and discuss the results in a written report and in an oral presentation.

Learning outcomes:

Students will learn how to analyse the academic literature on a given topic. They will become acquainted with the setup and composition of academic publications. They will also learn how to present the results of their analysis.

Prerequisites:

Formal: At least one OPM 6XX module (or an equivalent module within an exchange program)

Recommended: Sound knowledge in operations management; sound quantitative skills;  interest in scientific research

 

Obligatory registration: yes (at the end of the preceding term)

Courses                                                     Hours per week            Self-study

 

Lecture                                                                 2                                    10

 

ECTS in total                                                                                                                     6

Form of assessment

Presentation, active contribution to class discussion, written report

Preliminary course work

-

Duration of module

1 semester

Offering

Fall semester

Language

English / German