634-0805 – Exact Methods of Decision Making II (EMRII.)

Gurantor departmentDepartment of Economics and Management in Industry
Subject guarantorprof. Ing. Emilie Krausová, CSc.
Study levelundergraduate or graduate
Subject version
Version codeYear of introductionYear of cancellationCredits
634-0805/01 2004/2005 2015/2016 6

Subject aims expressed by acquired skills and competences

-student will be able to apply obtained knowledge from the subject Exact methods I and will extend it by various forms of postoptimal analysis -student will understand how to choose among individual decision making criteria and quality of information input to decision making under uncertainty and risk conditions -student will be able to find an optimal decision making strategy by application of dynamic modelling principles -student will know how to solve managerial decision making tasks by application of game theory

Teaching methods



The subject follows up the information gained in Exact methods of decision-making I. and expands the information by further methods of managerial decision-making. It mainly emphasises the cognitive function of mathematical modelling, various forms of postoptimalisation analysis, sensibility analysis and parametrisation of optimalisation tasks. It focuses on selection of decision-making criteria and the quality of information input, and on decision-making in uncertain and risky conditions. It thoroughly considers the issue of searching the optimum decision-making strategy utilising principles of dynamic programming and game theory.

Compulsory literature:

[1] Paul D. Van Ness a kol.: Quantitative Methods for Management Decisions, McGraw - Hill Book Company USA, 1985, ISBN 0-07-12519-8 [2] Turban E., Meredith J. R.: Fundamentals of Management Science, Irwin, USA, 1991, 5. vydání, ISBN 0-256-08373-8 [3] Curvin J., Slater R.: Quantitative methods for business decisions, Chapman & Hall, England, 1991, 3. edition, ISBN 0-412-40240-8 [4] Winston, W. L.: Operations research : applications and algorithms, Belmont : Brooks/Cole, 4th edition, 2004, ISBN 0-534-42362-0

Recommended literature:

[1] Anderson, D. R.: Quantitative methods for business, Mason : South-Western Cengage Learning, 2010, 11. vydání, ISBN 978-0-324-65181-2


Subject has no prerequisities.


Subject has no co-requisities.