ETF5650 Business optimisation skills
Faculty of Business and Economics
ETF5650 Business optimisation skills is a level 5, 6-credit-point, postgraduate unit from the Faculty of Business and Economics, offered in 2021 in Semester 1 at Caulfield. It needs ETF1100, FIT1006, STA1010, ETB1100, ETF5900, MGF5690, ETC1000, ETM5900, MGF5961, ETC5900, ETW1001 or SCI1020.
- Credit points
- 6
- Offered in 2021
- Semester 1
- Caulfield
- Assessment
- Exam 40%
- and 1 other task
- Workload
- 144 hours
- per semester
This is the 2021 handbook entry. See the 2027 entry.
Reviews
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Requisites
Before ETF5650
Prerequisites
Pass these before you enrol.
- ETF1100Business statisticsNo reviews yet
- FIT1006Business information analysisNo reviews yet
- STA1010Statistical methods for scienceNo reviews yet
- ETB1100Business statisticsNo reviews yet
- ETF5900Business statisticsNo reviews yet
- MGF5690Services and operations managementNo reviews yet
- ETC1000Business and economic statisticsNo reviews yet
- ETM5900Business statisticsNo reviews yet
- MGF5961Supply chain managementNo reviews yet
- ETC5900Business statisticsNo reviews yet
- ETW1001Introduction to statistical analysisNo reviews yet
- SCI1020Introduction to statistical reasoningRated 5.0 out of 5 from 1 review
After ETF5650
No unit lists ETF5650 as a prerequisite in the 2021 handbook.
Enrolment rules
If you are enrolled in course B6001 you cannot undertake this unit.
Overview
This unit complements your practical understanding of business practices by introducing quantitative techniques in optimisation. Of particular interest are those techniques designed to improve the efficiency and transparency of supply chains, retailing and operations. Topics covered include quantitative techniques for forecasting, waiting lines, process modelling, logistics, resource planning and business process performance appraisal. You will learn to apply such methods in business settings.
Offerings in 2021
| Teaching period | Campus | Mode |
|---|---|---|
| First semester | Caulfield | Evening |
Assessment
- Within semester assessment60%
- Examination40%
Learning outcomes
When you finish this unit, you should be able to:
- 1
develop business modelling skills and recognise the importance of optimisation techniques in solving business problems
- 2
understand the role of optimisation approaches for dealing with uncertainty in the business environment
- 3
develop basic skills in forecasting for business decisions
- 4
apply optimisation tools to facilitate movement of information and resources through a business process
- 5
recognise the role of online tools in business operation.
Workload and teaching
- Lectures24 hours
- Laboratories12 hours
- 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. 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
ETF5650 is part of 1 area of study in the 2021 handbook.
Contacts
- Chief Examiners
- Dr Don Galagedera
Common questions
What are the prerequisites for ETF5650?
You need ETF1100, FIT1006, STA1010, ETB1100, ETF5900, MGF5690, ETC1000, ETM5900, MGF5961, ETC5900, ETW1001 or SCI1020 before you enrol. Enrolment rules also apply.
When is ETF5650 offered?
In 2021, ETF5650 runs in Semester 1 at Caulfield.
How much work is ETF5650?
The handbook expects about 144 hours of study across the semester. No students have rated its difficulty yet.
Does ETF5650 have an exam?
Yes. The exam is worth 40% of the final mark, alongside 1 other task.
Which majors and minors include ETF5650?
ETF5650 is part of Supply chain management.