151-0428/01 – Managerial Decision Methods (MRR)

Gurantor departmentDepartment of Mathematical Methods in EconomicsCredits4
Subject guarantordoc. Ing. Václav Friedrich, Ph.D.Subject version guarantordoc. Ing. Václav Friedrich, Ph.D.
Study levelundergraduate or graduateRequirementChoice-compulsory
YearSemesterwinter
Study languageCzech
Year of introduction2010/2011Year of cancellation
Intended for the facultiesEKFIntended for study typesBachelor
Instruction secured by
LoginNameTuitorTeacher giving lectures
FRI02 doc. Ing. Václav Friedrich, Ph.D.
Extent of instruction for forms of study
Form of studyWay of compl.Extent
Part-time Credit 4+8

Subject aims expressed by acquired skills and competences

- Students will learn the basic concepts of decision theory and game theory. - Students will beable to design simple models of decision making under certainty, risk and uncertainty. - Students will be able to compile and describe the solution of selected economic problems using basic methods of decision-making and management. - Student will be able to solve decision problems using tools in MS Excel spreadsheet, and the FICO XPress IVE software.

Teaching methods

Seminars
Experimental work in labs
Project work

Summary

The importance of mathematical methods for improving managerial decision-making is widely known. For many practical experiences it is clear that the appropriate application of these methods can achieve important economic outcomes, and thus significantly contribute to quality managerial decisions at the micro, mezzo and macro levels. The course objective is to give the student the opportunity to gain an idea of the importance and possibilities of decision-quantitative methods in economics, especially in terms of their application in managerial decision making. There is no order for a student to become a leading expert in the application of mathematical methods, but to gradually gained practical knowledge, which will facilitate solutions to a number of decision problems of the regional economy and other areas to be able to judge when to use which method, to know its principles and options, and know how to make the best results obtained and used effectively. Courses with similar contents in English often called Decision Making Methods, or Management Science as well, which only emphasizes the fact that it was a management decision for the manager are basic methods of work that deserves to be studied as a separate scientific discipline.

Compulsory literature:

RENDER, Barry, Ralph STAIR a Michael HANNA. Quantitative Analysis for Management. 11th Edition. Prentice Hall, 2011. ISBN 978-0132149112.

Recommended literature:

WISNIEWSKI, Mik. Quantitative Methods for Decision Makers. 5th Edition. Prentice Hall, 2010. ISBN 978-0273712077. ANDERSON, David, Dennis SWEENEY, Thomas WILIAMS, Jeffrey CAMM a Kipp MARTIN. An Introduction to Management Science: Quantitative Approaches to Decision Making. 13 Revised Edition. South-Western College Pub, 2011. ISBN 978-1111532222.

Way of continuous check of knowledge in the course of semester

The study control is ensured by the activities in eLearning environment (LMS Moodle). Each thematic tutorial is finished by the following correspondence task. The theoretical part of the course is covered by the self-test. Student must reach at least 45 points of all the tasks.

E-learning

The eLearning course of this subject can be found in LMS Moodle (http://lms.vsb.cz). Students logged on to the subject in Edison are automatically enrolled in this course in LMS Moodle.

Další požadavky na studenta

The course assumes only high school knowledge of mathematics and computer science and general knowledge of basic economics.

Prerequisities

Subject has no prerequisities.

Co-requisities

Subject has no co-requisities.

Subject syllabus:

The subject "Management methods and decision-making" is designed for distance form of education using e -learning support for self-study. Organized teaching is concentrated in three seminars for 4 lessons. Needed software: Microsoft Excel, XPress IVE (students version). Study materials for all topics are available on the Internet (Moodle CMS) in PDF format or as a data file. Syllabus of tutorials: 1 Basic concepts of decision theory, continuous models of decision making 2 method of decision making under risk and uncertainty 3 Multicriteria decision models

Conditions for subject completion

Part-time form (validity from: 2010/2011 Winter semester)
Task nameType of taskMax. number of points
(act. for subtasks)
Min. number of points
Exercises evaluation Credit 85  45
Mandatory attendence parzicipation: Všechny zápočtové úkoly (Z1 až Z3) i oba dotazníky (D1 a D2) jsou povinné, dotazníky splníte vyplněním všech otázek - a to jakýmkoliv způsobem. Aby student obdržel zápočet, musí získat ze všech úkolů minimální předepsaný počet bodů, dohromady tedy minimálně 45 bodů z 85 možných.

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Occurrence in study plans

Academic yearProgrammeField of studySpec.ZaměřeníFormStudy language Tut. centreYearWSType of duty
2020/2021 (B6208) Economics and Management (6208R020) Business Economics K Czech Ostrava Choice-compulsory study plan
2020/2021 (B6202) Economic Policy and Administration (6202R055) Public Economics and Administration K Czech Ostrava 3 Choice-compulsory study plan
2020/2021 (B6202) Economic Policy and Administration (6202R055) Public Economics and Administration K Czech Valašské Meziříčí 3 Choice-compulsory study plan
2020/2021 (B6202) Economic Policy and Administration (6202R055) Public Economics and Administration K Czech Šumperk 3 Choice-compulsory study plan
2019/2020 (B6202) Economic Policy and Administration (6202R055) Public Economics and Administration K Czech Ostrava 3 Choice-compulsory study plan
2019/2020 (B6202) Economic Policy and Administration (6202R055) Public Economics and Administration K Czech Valašské Meziříčí 3 Choice-compulsory study plan
2019/2020 (B6202) Economic Policy and Administration (6202R055) Public Economics and Administration K Czech Šumperk 3 Choice-compulsory study plan
2019/2020 (B6208) Economics and Management (6208R020) Business Economics K Czech Ostrava Choice-compulsory study plan
2018/2019 (B6208) Economics and Management (6208R020) Business Economics K Czech Ostrava Choice-compulsory study plan
2018/2019 (B6202) Economic Policy and Administration (6202R055) Public Economics and Administration K Czech Ostrava 3 Choice-compulsory study plan
2018/2019 (B6202) Economic Policy and Administration (6202R055) Public Economics and Administration K Czech Šumperk 3 Choice-compulsory study plan
2018/2019 (B6202) Economic Policy and Administration (6202R055) Public Economics and Administration K Czech Valašské Meziříčí 3 Choice-compulsory study plan
2017/2018 (B6202) Economic Policy and Administration (6202R055) Public Economics and Administration K Czech Ostrava 3 Choice-compulsory study plan
2017/2018 (B6202) Economic Policy and Administration (6202R055) Public Economics and Administration K Czech Šumperk 3 Choice-compulsory study plan
2017/2018 (B6202) Economic Policy and Administration (6202R055) Public Economics and Administration K Czech Valašské Meziříčí 3 Choice-compulsory study plan
2017/2018 (B6208) Economics and Management (6208R020) Business Economics K Czech Ostrava Choice-compulsory study plan
2016/2017 (B6208) Economics and Management (6208R020) Business Economics K Czech Ostrava Choice-compulsory study plan
2015/2016 (B6208) Economics and Management (6208R020) Business Economics K Czech Ostrava Choice-compulsory study plan
2014/2015 (B6208) Economics and Management (6208R020) Business Economics K Czech Ostrava Choice-compulsory study plan
2010/2011 (B6202) Economic Policy and Administration (6210R004) European Integration (02) European Integration K Czech Ostrava 3 Choice-compulsory study plan

Occurrence in special blocks

Block nameAcademic yearForm of studyStudy language YearWSType of blockBlock owner