ETF3480 Optimisation for managers
Faculty of Business and Economics
ETF3480 Optimisation for managers is a level 3, 6-credit-point, undergraduate unit from the Faculty of Business and Economics, offered in 2020 in Semester 1 at Caulfield. It needs ETF2480.
- Credit points
- 6
- Offered in 2020
- Semester 1
- Caulfield
- Workload
- 144 hours
- per semester
This is the 2020 handbook entry. See the 2027 entry.
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Requisites
Before ETF3480
Prerequisites
Pass these before you enrol.
After ETF3480
No unit lists ETF3480 as a prerequisite in the 2020 handbook.
Equivalent units
The same content under another code. Only one of them counts.
Overview
This unit is designed to develop quantitative problem solving skills. The emphasis is on recognising and identifying decision problems, modelling them and generating solutions to them. Various optimisation techniques used in the business decision-making process will be introduced. Topics include benchmarking with data envelopment analysis, game theory, queuing models, Markov chains and simulation modelling. Applications in business, particularly in management, marketing, banking and finance will be used in the demonstration.
Offerings in 2020
| Teaching period | Campus | Mode |
|---|---|---|
| First semester | Caulfield | On campus |
| First semester (Fully flex) | Caulfield | Flexible |
Learning outcomes
When you finish this unit, you should be able to:
- 1
understand the complementary nature of the rational and behavioural approaches to decision making
- 2
select and apply quantitative modelling concepts to problems arising from business
- 3
formulate an appropriate model to analyse various business decision problems
- 4
apply tools available in Microsoft Excel and algorithms to generate solutions and appraise the solutions through the use of sensitivity analysis
- 5
communicate the analysis and results of business decision problems.
Workload and teaching
Minimum total expected workload to achieve the learning outcomes for this unit is 144 hours per semester typically comprising a mixture of scheduled learning activities and independent study. Independent study may include associated readings, assessment and preparation for scheduled activities. The unit requires on average three/four hours of scheduled activities per week. Scheduled activities may include a combination of teacher directed learning, peer directed learning and online engagement.
Where it fits
ETF3480 is part of 2 areas of study in the 2020 handbook.
Contacts
- Chief Examiners
- Dr Don Galagedera
Common questions
What are the prerequisites for ETF3480?
You need ETF2480 before you enrol.
When is ETF3480 offered?
In 2020, ETF3480 runs in Semester 1 at Caulfield.
How much work is ETF3480?
The handbook expects about 144 hours of study across the semester. No students have rated its difficulty yet.
Which majors and minors include ETF3480?
ETF3480 is part of Business statistics.