Course: Quantitative Methods in Decision-Making

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Course title Quantitative Methods in Decision-Making
Course code KMI/KMR
Organizational form of instruction Lecture + Lesson
Level of course unspecified
Year of study not specified
Semester Winter
Number of ECTS credits 5
Language of instruction Czech
Status of course unspecified
Form of instruction unspecified
Work placements unspecified
Recommended optional programme components None
Lecturer(s)
  • Friebelová Jana, Ing. Ph.D.
Course content
Lectures: 1 - Basic terminology of decision making theory. Reminding of the frequent probability terms; 2 - The source of the risk. Continuous and discrete random variables, objective and subjective probabilities; 3 - The decider approach to the risk, utility function under risk; 4 - One-criterion decision making, decision making matrices; 5 - Multi steps one-criterion decision making, decision making trees; 6, 7 - Multi-Attribute decision making; 8 - Team decision making; 9 - Location models; 10, 11 - Multi-degree and multi-dimensional distribution problems; 12 - Graph theory in decision making; 13, 14 - Stochastic models, introduction into simulation; Seminars: 1 - Basic probability terms; 2 - Continuous and discrete random variables, objective and subjective probability; 3 - The decider approach to the risk, utility function under risk; 4 - One-criterion decision making, decision making matrices; 5 - Multi steps one-criterion decision making, decision making trees; 6, 7 - Multi-Attribute decision making; 8 - Team decision making; 9 - Location models; 10, 11 - Multi-degree and multi-dimensional distribution problems; 12 - Graph theory in decision making; 13, 14 - Stochastic models, introduction into simulation;

Learning activities and teaching methods
Monologic (reading, lecture, briefing), Dialogic (discussion, interview, brainstorming)
Learning outcomes
The aim of the course is to extend students' knowledge of mathematics and operation analysis for solving different types of decision problems. The course focuses on the domain of managerial decision making .
Students will be able to create models of particular optimisation problems from every-day life and using mathematical models, suggest the most suitable or effective solutions.
Prerequisites
The knowledge of Mathematics (MATEA, MATI) and the basics of probability (from the course of statistics).

Assessment methods and criteria
Oral examination, Test

Credit Requirements: a) Solving of two seminar works and following discussion. b) Explanation of chosen key words and answering of control questions. Examination Requirements: The examination has two parts - written and oral ones. The written one contains ten problems to solve. These problems cover whole area of the course. The problems can be solved without using of the computer. The oral part consists from the discussion about the seminar works and written part and answering of additional questions.
Recommended literature
  • Dlouhý, M. Simulace pro ekonomy.. Praha: VŠE, 2001. ISBN 80-245-0155-4.
  • Fotr, J. a kol. Manažerské rozhodování.. Praha: Ekopress, 2006. ISBN 80-86929-15-9.
  • Gros, I. Kvantitativní metody v manažerském rozhodování.. Praha: Grada Publishing, 2003. ISBN 80-247-0421-8.
  • Šubrt, T. a kol. Ekonomicko-matematické metody II.. Praha: ČZU, 2000. ISBN 80-213-0721-8.
  • Šubrt, T., Langrová, P. Systémová podpora projektů.. Praha: ČZU, 2003. ISBN 80-213-0996-2.
  • Wisniewski, M. Kvantitativní metody v rozhodování.. Praha: Viktoria Publishing, 1996. ISBN 8071690899.
  • Získal, J., Havlíček, J. Ekonomicko matematické metody II..


Study plans that include the course
Faculty Study plan (Version) Category of Branch/Specialization Recommended year of study Recommended semester