Description of Individual Course Units
Course Unit CodeCourse Unit TitleType of Course UnitYear of StudySemesterNumber of ECTS Credits
11320203E11836DECISION THEORY AND MODELSElective485
Level of Course Unit
First Cycle
Objectives of the Course
•To discuss general structure of decision making process, after fundamental characteristics of decision models are evaluated
Name of Lecturer(s)
Assist. Prof. Dr. Burcu ARACIOGLU
Learning Outcomes
1To be able to determine numerical methods which can be used to make choice among multiple alternatives.
2To be able to select best fit method for decision environment, make the right decision by using these methods.
Mode of Delivery
Face to Face
Prerequisites and co-requisities
None
Recommended Optional Programme Components
None
Course Contents
In this course, decision making process under certainty, risk environment and uncertainty, statistical decision theory, game theory, probability theory and decision tree analysis approach subjects will be addressed.
Weekly Detailed Course Contents
WeekTheoreticalPracticeLaboratory
1Course objectives and outlines
2Decision making under uncertainty : The maximin criterion, the maximax criterion, the Laplace criterion, the Hurwitz criterion, the savage criterion
3Decision rules in risk environment: The maximum possibility criterion, the expected minimum opportunity cost, value of experimentation
4Decision trees : Drawing a decision tree, evaluating the decision tree, calculating the tree values, calculating the value of uncertain outcome nodes, calculating the value of decision nodes, making decision
5Game theory: The formulation of two-person, zero-sum games, solving simple games, games with mixed strategies
6Graphical solution procedure
7Solving by linear programming
8Midterm
9Queuing theory: Basic structure of queuing models
10Queuing models involving exponential distribution, queuing models based on the birth-death process
11Queuing models involving nonexponential distributions
12Queuing networks, single server queuing models
13Queuing networks, single server queuing models
14Multiple server queuing models
15Multiple server queuing models
16Final Exam
Recommended or Required Reading
Raiffa, Howard, Schlaifer, Robert, “Statistical Decision Theory”, John Wiley & Sons, 1st Edition, (2000).
Planned Learning Activities and Teaching Methods
Activities are given in detail in the section of "Assessment Methods and Criteria" and "Workload Calculation"
Assessment Methods and Criteria
Term (or Year) Learning ActivitiesQuantityWeight
SUM0
End Of Term (or Year) Learning ActivitiesQuantityWeight
SUM0
SUM0
Language of Instruction
English
Work Placement(s)
None
Workload Calculation
ActivitiesNumberTime (hours)Total Work Load (hours)
Midterm Examination122
Final Examination122
Attending Lectures16348
Seminar5315
Self Study5315
Individual Study for Homework Problems428
Individual Study for Mid term Examination10220
Individual Study for Final Examination20240
TOTAL WORKLOAD (hours)150
Contribution of Learning Outcomes to Programme Outcomes
PO
1
PO
2
PO
3
PO
4
PO
5
PO
6
PO
7
PO
8
PO
9
PO
10
LO15555443335
LO25555552344
* Contribution Level : 1 Very low 2 Low 3 Medium 4 High 5 Very High
 
Ege University, Bornova - İzmir / TURKEY • Phone: +90 232 311 10 10 • e-mail: intrec@mail.ege.edu.tr