ETF5480 Decision modelling for business
Faculty of Business and Economics
ETF5480 Decision modelling for business is a level 5, 6-credit-point, postgraduate unit from the Faculty of Business and Economics, offered in 2025 in Semester 1 at Caulfield. It needs ETF5248 or ETF2480.
- Credit points
- 6
- Offered in 2025
- Semester 1
- Caulfield
- Assessment
- Exam 40%
- and 1 other task
- Workload
- 144 hours
- per semester
This is the 2025 handbook entry. See the 2027 entry.
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Requisites
Before ETF5480
Prohibitions
You can't enrol if you have passed any of these.
Prerequisites
Pass these before you enrol.
After ETF5480
No unit lists ETF5480 as a prerequisite in the 2025 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, modelling and solving problems arising in business-decision. Various optimisation techniques used in the business decision-making process will be introduced. Topics include benchmarking with data envelopment analysis, game theory, queuing models, decision trees and simulation modelling. Applications in business, particularly in management, marketing, banking and finance will be used in the demonstration.
Offerings in 2025
| Teaching period | Campus | Mode |
|---|---|---|
| First semester | Caulfield | On campus |
Assessment
- Within semester assessment60%
- Examination40%
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 programming languages 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
- Seminars36 hours
- Tutorials12 hours
- Teaching approachProblem-based learning
- Teaching approachActive learning
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. You are expected to complete all pre-class activities prior to your scheduled class, and post-class activities should be completed after your scheduled class. Learning activities may include a combination of teacher directed, peer directed and online engagement activities.
This unit includes problem-based learning approaches, where you engage in research, integrate theory and practice and apply knowledge and skills to develop viable solutions in response to a problem or set of problems.
This unit engages you in actively applying your knowledge, skills and attributes in interactive, collaborative and reflective activities.
Learning resources
Technology resources
There may be an additional cost associated with purchasing a physical and/or virtual calculator. Specific details will be provided in the Learning Management System by commencement of Orientation week.
Where it fits
ETF5480 is part of 2 areas of study in the 2025 handbook.
Contacts
- Chief Examiners
- Dr Jessica Leung
Common questions
When is ETF5480 offered?
In 2025, ETF5480 runs in Semester 1 at Caulfield.
How much work is ETF5480?
The handbook expects about 144 hours of study across the semester. No students have rated its difficulty yet.
Does ETF5480 have an exam?
Yes. The exam is worth 40% of the final mark, alongside 1 other task.
Which majors and minors include ETF5480?
ETF5480 is part of Data analytics for business and Financial analytics.