Course Description
| Course | Code | Semester | T+P (Hour) | Credit | ECTS |
|---|---|---|---|---|---|
| APPLIED NUMERICAL DECISION MAKING METHODS | - | 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. Mutlu GÜRSOY |
| 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. |
| Dersin Öğrenme Kazanımları | 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 | Having advanced theoretical and practical knowledge supported by textbooks, application tools and other resources containing current information in the field | X | |||||
| 2 | To have information about basic resources, current trends and approaches regarding Business Management in the light of current developments in the field of business. | X | |||||
| 3 | Accessing and evaluating scientific knowledge in the field of Business Management and using this knowledge in solving high-level managerial problems of businesses. | X | |||||
| 4 | Thinking about individual and social problems related to Business Management and producing solutions in the light of current developments | ||||||
| 5 | Solving the problems encountered in business theory and practice by using research methods specific to the field of Business. | ||||||
| 6 | Independently carry out a study that requires expertise in the field of Business Management and its sub-disciplines. | X | |||||
| 7 | Developing different perspectives and producing solutions by taking responsibility for the solution of complex problems that require expertise and are encountered in the field of Business Management and its sub-disciplines. | X | |||||
| 8 | Critically evaluate the expert knowledge and skills acquired in the field of Business Management and its sub-disciplines. | ||||||
| 9 | Developing positive attitudes towards lifelong learning and turning them into behavior | X | |||||
| 10 | To systematically convey the expert knowledge gained in the field of business administration and its sub-disciplines and the current developments in management theory and practice, both verbally and in writing, to groups in the field and outside the field. | X | |||||
| 11 | Critically questioning business concepts and institutions, established management practices and rules, and taking initiative to develop and change them when necessary. | ||||||
| 12 | Advanced use of information and communication technologies along with computer software at the level required by the Business Management field. | X | |||||
| 13 | Internalizing information regarding Business Management fields and sub-disciplines by considering social, scientific and ethical values in the processes of acquiring, processing and evaluating. | X | |||||
| 14 | Developing and teaching others the honesty, justice and ethics required to be a Senior Manager. | ||||||
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 | - | 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. Mutlu GÜRSOY |
| 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. |
| Dersin Öğrenme Kazanımları | 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 | Having advanced theoretical and practical knowledge supported by textbooks, application tools and other resources containing current information in the field | X | |||||
| 2 | To have information about basic resources, current trends and approaches regarding Business Management in the light of current developments in the field of business. | X | |||||
| 3 | Accessing and evaluating scientific knowledge in the field of Business Management and using this knowledge in solving high-level managerial problems of businesses. | X | |||||
| 4 | Thinking about individual and social problems related to Business Management and producing solutions in the light of current developments | ||||||
| 5 | Solving the problems encountered in business theory and practice by using research methods specific to the field of Business. | ||||||
| 6 | Independently carry out a study that requires expertise in the field of Business Management and its sub-disciplines. | X | |||||
| 7 | Developing different perspectives and producing solutions by taking responsibility for the solution of complex problems that require expertise and are encountered in the field of Business Management and its sub-disciplines. | X | |||||
| 8 | Critically evaluate the expert knowledge and skills acquired in the field of Business Management and its sub-disciplines. | ||||||
| 9 | Developing positive attitudes towards lifelong learning and turning them into behavior | X | |||||
| 10 | To systematically convey the expert knowledge gained in the field of business administration and its sub-disciplines and the current developments in management theory and practice, both verbally and in writing, to groups in the field and outside the field. | X | |||||
| 11 | Critically questioning business concepts and institutions, established management practices and rules, and taking initiative to develop and change them when necessary. | ||||||
| 12 | Advanced use of information and communication technologies along with computer software at the level required by the Business Management field. | X | |||||
| 13 | Internalizing information regarding Business Management fields and sub-disciplines by considering social, scientific and ethical values in the processes of acquiring, processing and evaluating. | X | |||||
| 14 | Developing and teaching others the honesty, justice and ethics required to be a Senior Manager. | ||||||
Assessment Methods
| Contribution Level | Absolute Evaluation | |
| Rate of Midterm Exam to Success | 50 | |
| Rate of Final Exam to Success | 50 | |
| Total | 100 | |