Management Decision Making (QBUS6320)


This unit introduces models and tools for decision analysis and their application in managerial settings. The unit focuses on the use of formal decision methods for management decisions in business. The main goal is to show how these decision models can improve the decision process by helping the decision maker to understand the structure of decisions; use subjective probabilities for measuring risk; analyse sensitivity of decisions to changing decision parameters; quantify outcomes in accordance with risk attitudes; and estimate the value of information. Special attention is paid to informal interpretations of formal decision approaches.

Our courses that offer this unit of study

Further unit of study information


1x 2hr lecture and 1x 1hr tutorial per week


Individual assignment (40%) and final exam (60%)

Faculty/department permission required?


Unit of study rules


ECOF5804, ECMT6510, ECOF6070, ECMT5003

Study this unit outside a degree

Non-award/non-degree study

If you wish to undertake one or more units of study (subjects) for your own interest but not towards a degree, you may enrol in single units as a non-award student.

Cross-institutional study

If you are from another Australian tertiary institution you may be permitted to underake cross-institutional study in one or more units of study at the University of Sydney.