Course Detail
Course Description
| Course | Code | Semester | T+P (Hour) | Credit | ECTS |
|---|---|---|---|---|---|
| APPLIED NUMERICAL DECISION MAKING METHODS | FİBY1111145 | Fall Semester | 3+0 | 3 | 6 |
| Course Program |
| Prerequisites Courses | |
| Recommended Elective Courses |
| Language of Course | Turkish |
| Course Level | Second Cycle (Master's Degree) |
| Course Type | Elective |
| Course Coordinator | Assist.Prof. Esra BAYTÖREN |
| Name of Lecturer(s) | Assist.Prof. Mutlu GÜRSOY |
| Assistant(s) | |
| Aim | The aim of this course is to develop students' skills in using numerical decision analysis methods. Since an indispensable feature of intelligence in humans or machines is the ability to choose between alternatives, it is aimed to improve students' decision-making skills. |
| Course Content | This course contains; Measurement and Quantification,Searching optimal and good enough solutions: Rationality and bounded rationality,Decision making environments and characteristic of decision problems,Decision under ignorance (uncertainty),Decision under risk,Sequential decisions and decision trees,Bayesian decision analysis,Markov Analysis,Group Decisions and consensus,Game theoretic modeling of decision making,Introduction to Multi-Criteria Decision Making: Basic Concepts,Multi-Criteria Decision Making – Analytic Hierarchy Process ,Multi-Criteria Decision Making – TOPSIS ,Simulation: Basic Concepts and Applications. |
| Course Learning Outcomes | Teaching Methods | Assessment Methods |
| 1. Realizes quantification process | 10, 16, 6, 9 | A, E, F, G |
| 2. Explains the logic of both optimization and heuristics methods. | 10, 16, 6, 9 | A, E, F, G |
| 3. Explains the relation between probability and information | 10, 16, 6, 9 | A, E, F, G |
| 4. Describes the elements of decision theory and the distinction between individual and group decisions | 10, 14, 16, 5, 6, 9 | A, E, F, G |
| 5. Expresses the value of experimentation (a posterior information) in decision process | 10, 16, 6, 9 | A, E, F, G |
| 6. Applies game theoretic perspective to decision problems. | 10, 16, 6, 9 | A, E, F, G |
| 7. Designs multi-criteria decision problems | 10, 16, 6, 9 | A, E, F, G |
| 8. Explains the advantages and disadvantages of simulation | 10, 16, 6, 9 | A, E, F, G |
| Teaching Methods: | 10: Discussion Method, 14: Self Study Method, 16: Question - Answer Technique, 5: Cooperative Learning, 6: Experiential Learning, 9: Lecture Method |
| Assessment Methods: | A: Traditional Written Exam, E: Homework, F: Project Task, G: Quiz |
Course Outline
| Order | Subjects | Preliminary Work |
|---|---|---|
| 1 | Measurement and Quantification | Examination of academic studies on the subject. |
| 2 | Searching optimal and good enough solutions: Rationality and bounded rationality | Examination of academic studies on the subject. |
| 3 | Decision making environments and characteristic of decision problems | Examination of academic studies on the subject. |
| 4 | Decision under ignorance (uncertainty) | Examination of academic studies on the subject. |
| 5 | Decision under risk | Examination of academic studies on the subject. |
| 6 | Sequential decisions and decision trees | Examination of academic studies on the subject. |
| 7 | Bayesian decision analysis | Examination of academic studies on the subject. |
| 8 | Markov Analysis | Examination of academic studies on the subject. |
| 9 | Group Decisions and consensus | Examination of academic studies on the subject. |
| 10 | Game theoretic modeling of decision making | Examination of academic studies on the subject. |
| 11 | Introduction to Multi-Criteria Decision Making: Basic Concepts | Examination of academic studies on the subject. |
| 12 | Multi-Criteria Decision Making – Analytic Hierarchy Process | Examination of academic studies on the subject. |
| 13 | Multi-Criteria Decision Making – TOPSIS | Examination of academic studies on the subject. |
| 14 | Simulation: Basic Concepts and Applications | Examination of academic studies on the subject. |
| Resources |
| Lecture notes |
| [1] Zerrin Aladağ, 2014, Karar Teorisi, 2. Baskı, Umuttepe Yayınları [2] Mustafa Aytaç, Necmi Gürsakal (Editörler), 2015, Karar Verme, Dora Yayınları [3] B.Fatih Yıldırım, Emrah Önder (Editörler), 2015, Çok Kriterli Karar Verme Yöntemleri, 2.Baskı, Dora Yayınları [4] B.Render, R.M.Stair, M.E.Hanna, 2012, Quantitative Analysis for Management, Eleventh Edition, Pearson [5] M.Peterson, 2009, An Introduction to Decision Theory, Cambridge University Press |
Course Contribution to Program Qualifications
| Course Contribution to Program Qualifications | |||||||
| No | Program Qualification | Contribution Level | |||||
| 1 | 2 | 3 | 4 | 5 | |||
| 1 | 1. In light of the current developments in the field of banking and finance, use knowledge about the main sources, process and design which are related to the field. | X | |||||
| 2 | 2.Describe the mathematical and statistical methods of banking and finance. | X | |||||
| 3 | 3. Reach scientific knowledge in the field of banking and finance; evaluate, and use this information to solve macro and micro financial problems. | X | |||||
| 4 | 4. Implement the idea about individual and social problems of banking and finance and in the light of current developments find resolutions. | X | |||||
| 5 | 5. Solve the problems encountered in banking and finance theory and practice by using research methods that specific to field. | X | |||||
| 6 | 6. Carry out an independent study which needs expertise in the field of banking and finance and its sub-disciplines. | X | |||||
| 7 | 7. Develop different perspectives and take responsibility to solve complex issues which require expertise and encountered in the field of banking and finance and its sub-disciplines. | X | |||||
| 8 | 8. Critically evaluate acquired knowledge and skills in the field of banking and finance and its sub-disciplines. | ||||||
| 9 | 9. Constantly evaluates itself by following the developments in science and technology with the importance of lifelong learning. | X | |||||
| 10 | 10. Mean acquired knowledge in the field of banking and finance and current developments about finance theory and practice to all groups systematically in written or oral form. | ||||||
| 11 | 11. Critically question concepts and institutions of banking and finance, settled practice of management and norms and when necessary develop and attempt to change them. | ||||||
| 12 | 12. Use software which in the level required by the field of banking and finance and information and communication technologies in the advanced level. | X | |||||
| 13 | 13. Take into consideration and internalize social, scientific and ethical values in the process of gathering, processing and evaluating information about field of banking and finance and its sub-disciplines. | ||||||
| 14 | 14. With developing understanding of honesty, justice and ethics are required to be professional in the field, teach around them. | ||||||
Assessment Methods
| Contribution Level | Absolute Evaluation | |
| Rate of Midterm Exam to Success | 50 | |
| Rate of Final Exam to Success | 50 | |
| Total | 100 | |
| ECTS / Workload Table | ||||||
| Activities | Number of | Duration(Hour) | Total Workload(Hour) | |||
| Course Hours | 14 | 3 | 42 | |||
| Guided Problem Solving | 5 | 2 | 10 | |||
| Resolution of Homework Problems and Submission as a Report | 2 | 20 | 40 | |||
| Term Project | 1 | 20 | 20 | |||
| Presentation of Project / Seminar | 1 | 20 | 20 | |||
| Quiz | 2 | 10 | 20 | |||
| Midterm Exam | 1 | 15 | 15 | |||
| General Exam | 1 | 20 | 20 | |||
| Performance Task, Maintenance Plan | 0 | 0 | 0 | |||
| Total Workload(Hour) | 187 | |||||
| Dersin AKTS Kredisi = Toplam İş Yükü (Saat)/30*=(187/30) | 6 | |||||
| ECTS of the course: 30 hours of work is counted as 1 ECTS credit. | ||||||
Detail Informations of the Course
Course Description
| Course | Code | Semester | T+P (Hour) | Credit | ECTS |
|---|---|---|---|---|---|
| APPLIED NUMERICAL DECISION MAKING METHODS | FİBY1111145 | Fall Semester | 3+0 | 3 | 6 |
| Course Program |
| Prerequisites Courses | |
| Recommended Elective Courses |
| Language of Course | Turkish |
| Course Level | Second Cycle (Master's Degree) |
| Course Type | Elective |
| Course Coordinator | Assist.Prof. Esra BAYTÖREN |
| Name of Lecturer(s) | Assist.Prof. Mutlu GÜRSOY |
| Assistant(s) | |
| Aim | The aim of this course is to develop students' skills in using numerical decision analysis methods. Since an indispensable feature of intelligence in humans or machines is the ability to choose between alternatives, it is aimed to improve students' decision-making skills. |
| Course Content | This course contains; Measurement and Quantification,Searching optimal and good enough solutions: Rationality and bounded rationality,Decision making environments and characteristic of decision problems,Decision under ignorance (uncertainty),Decision under risk,Sequential decisions and decision trees,Bayesian decision analysis,Markov Analysis,Group Decisions and consensus,Game theoretic modeling of decision making,Introduction to Multi-Criteria Decision Making: Basic Concepts,Multi-Criteria Decision Making – Analytic Hierarchy Process ,Multi-Criteria Decision Making – TOPSIS ,Simulation: Basic Concepts and Applications. |
| Course Learning Outcomes | Teaching Methods | Assessment Methods |
| 1. Realizes quantification process | 10, 16, 6, 9 | A, E, F, G |
| 2. Explains the logic of both optimization and heuristics methods. | 10, 16, 6, 9 | A, E, F, G |
| 3. Explains the relation between probability and information | 10, 16, 6, 9 | A, E, F, G |
| 4. Describes the elements of decision theory and the distinction between individual and group decisions | 10, 14, 16, 5, 6, 9 | A, E, F, G |
| 5. Expresses the value of experimentation (a posterior information) in decision process | 10, 16, 6, 9 | A, E, F, G |
| 6. Applies game theoretic perspective to decision problems. | 10, 16, 6, 9 | A, E, F, G |
| 7. Designs multi-criteria decision problems | 10, 16, 6, 9 | A, E, F, G |
| 8. Explains the advantages and disadvantages of simulation | 10, 16, 6, 9 | A, E, F, G |
| Teaching Methods: | 10: Discussion Method, 14: Self Study Method, 16: Question - Answer Technique, 5: Cooperative Learning, 6: Experiential Learning, 9: Lecture Method |
| Assessment Methods: | A: Traditional Written Exam, E: Homework, F: Project Task, G: Quiz |
Course Outline
| Order | Subjects | Preliminary Work |
|---|---|---|
| 1 | Measurement and Quantification | Examination of academic studies on the subject. |
| 2 | Searching optimal and good enough solutions: Rationality and bounded rationality | Examination of academic studies on the subject. |
| 3 | Decision making environments and characteristic of decision problems | Examination of academic studies on the subject. |
| 4 | Decision under ignorance (uncertainty) | Examination of academic studies on the subject. |
| 5 | Decision under risk | Examination of academic studies on the subject. |
| 6 | Sequential decisions and decision trees | Examination of academic studies on the subject. |
| 7 | Bayesian decision analysis | Examination of academic studies on the subject. |
| 8 | Markov Analysis | Examination of academic studies on the subject. |
| 9 | Group Decisions and consensus | Examination of academic studies on the subject. |
| 10 | Game theoretic modeling of decision making | Examination of academic studies on the subject. |
| 11 | Introduction to Multi-Criteria Decision Making: Basic Concepts | Examination of academic studies on the subject. |
| 12 | Multi-Criteria Decision Making – Analytic Hierarchy Process | Examination of academic studies on the subject. |
| 13 | Multi-Criteria Decision Making – TOPSIS | Examination of academic studies on the subject. |
| 14 | Simulation: Basic Concepts and Applications | Examination of academic studies on the subject. |
| Resources |
| Lecture notes |
| [1] Zerrin Aladağ, 2014, Karar Teorisi, 2. Baskı, Umuttepe Yayınları [2] Mustafa Aytaç, Necmi Gürsakal (Editörler), 2015, Karar Verme, Dora Yayınları [3] B.Fatih Yıldırım, Emrah Önder (Editörler), 2015, Çok Kriterli Karar Verme Yöntemleri, 2.Baskı, Dora Yayınları [4] B.Render, R.M.Stair, M.E.Hanna, 2012, Quantitative Analysis for Management, Eleventh Edition, Pearson [5] M.Peterson, 2009, An Introduction to Decision Theory, Cambridge University Press |
Course Contribution to Program Qualifications
| Course Contribution to Program Qualifications | |||||||
| No | Program Qualification | Contribution Level | |||||
| 1 | 2 | 3 | 4 | 5 | |||
| 1 | 1. In light of the current developments in the field of banking and finance, use knowledge about the main sources, process and design which are related to the field. | X | |||||
| 2 | 2.Describe the mathematical and statistical methods of banking and finance. | X | |||||
| 3 | 3. Reach scientific knowledge in the field of banking and finance; evaluate, and use this information to solve macro and micro financial problems. | X | |||||
| 4 | 4. Implement the idea about individual and social problems of banking and finance and in the light of current developments find resolutions. | X | |||||
| 5 | 5. Solve the problems encountered in banking and finance theory and practice by using research methods that specific to field. | X | |||||
| 6 | 6. Carry out an independent study which needs expertise in the field of banking and finance and its sub-disciplines. | X | |||||
| 7 | 7. Develop different perspectives and take responsibility to solve complex issues which require expertise and encountered in the field of banking and finance and its sub-disciplines. | X | |||||
| 8 | 8. Critically evaluate acquired knowledge and skills in the field of banking and finance and its sub-disciplines. | ||||||
| 9 | 9. Constantly evaluates itself by following the developments in science and technology with the importance of lifelong learning. | X | |||||
| 10 | 10. Mean acquired knowledge in the field of banking and finance and current developments about finance theory and practice to all groups systematically in written or oral form. | ||||||
| 11 | 11. Critically question concepts and institutions of banking and finance, settled practice of management and norms and when necessary develop and attempt to change them. | ||||||
| 12 | 12. Use software which in the level required by the field of banking and finance and information and communication technologies in the advanced level. | X | |||||
| 13 | 13. Take into consideration and internalize social, scientific and ethical values in the process of gathering, processing and evaluating information about field of banking and finance and its sub-disciplines. | ||||||
| 14 | 14. With developing understanding of honesty, justice and ethics are required to be professional in the field, teach around them. | ||||||
Assessment Methods
| Contribution Level | Absolute Evaluation | |
| Rate of Midterm Exam to Success | 50 | |
| Rate of Final Exam to Success | 50 | |
| Total | 100 | |