Faculty of Engineering and Natural Sciences · Industrial Engineering (English 30%) · Undergraduate
Course Objective
It is possible for decision makers to follow different methodologies while selecting one choice when there are different alternatives. To explain what kind of systematic procedures are followed by decision makers during the decision processes and to help new decision makers when they are in decision process in business environment are the aims of this course. This course also compares different decision making rules in an objective way. To study the mathematical, statistical, and psychological approaches related to decision making is the objective of this course.
Course Content
In this lecture the subjects such as; the definition of decision making process, basic concept in decision making, modeling and analysis of decision problems, solution methods, decision making under uncertainty, decision making under risk, game theory, evaluation and decision making with qualitative data, multi criteria decision making.
Course Learning Outcomes
- Understand and solve Markov decision problems
- models with game theory and can choose the optimum decision for decision makers
- can explain risk and uncertainty models
- Understand Analytic Hierarchy Process (AHS) as a tool for solving multi-criteria decision making problems and apply it to given problems.
- Understands the elements of a decision problem, can decide according to different criteria by creating a decision matrix or decision tree.
- Classify Decision Making Problems and have knowledge about Basic Decision Making Methods
Core Area Distribution
Teaching Methods
Assessment & Evaluation
ECTS / Workload
| Activity | Quantity | Duration (h) | Total Workload |
|---|---|---|---|
| Course Duration (Including Exam Week) | 15 | 3 | 45 |
| Out of Class Study Period | 15 | 1 | 15 |
| Midterm | 2 | 1 | 2 |
| Quiz | 0 | 0 | 0 |
| Assignment | 1 | 5 | 5 |
| Practice | 0 | 0 | 0 |
| Final | 1 | 5 | 5 |
Course Schedule
| Week | Subject | Preparation |
|---|---|---|
| 1 | Introduction and Decision Making Theory | Lecturer Notes |
| 2 | A classfication about decision making techniques | Lecturer Notes |
| 3 | Decision Making under Uncertainity | Main ideas of Decision Making |
| 4 | Decision Making Under Risk | Main ideas of Decision Making |
| 5 | Decision Trees and AHP | Lecturer Notes |
| 6 | AHP | Lecturer Notes |
| 7 | Game Theory | Lecturer Notes |
| 8 | Game Theory | Lecturer Notes |
| 9 | Midterm Exam | Lecturer Notes |
| 10 | Goal Programming | Lecturer Notes and Operations Research |
| 11 | Goal Programming | Lecturer Notes and Operations Research |
| 12 | Markov Decision Process | Lecturer Notes |
| 13 | Markov Decision Process Midterm Exam-II | Lecturer Notes |
| 14 | Markov Decision Process Homework Presentations | Lecturer Notes |
| 15 | Data Envelopment Analysis Homework Presentations | Lecturer Notes |
| 16 | Recent Trends on Decision Making Homework Presentations | Lecturer Notes |