MAT3268 Decision Theory

The aims of this course is to enable students to acquire active knowledge and understanding of some basic concepts in Decision analysis, It gives a mathematical description of the decision analysis under certain circumstances. Decision under Certainty, uncertainty and under risk. Decision tree and ends with the decision making in light of competitive actions (game theory).

During the teaching sessions, the following will be covered: Introduction to Decision Analysis, Decision making under Certainty, Decision making under uncertainty, Decision making under risk, Decision making with perfect information, Decision making with imperfect information, Decision tree, Decision making and utility, Decision making criteria. Decision making in light of competitive actions, Network analysis and Game theory.

Learning Outcomes

• Should have a reasonable understanding of the definitions and terms related to the Module aims at as well as the Course Contents.
• Should have a reasonable understanding of the statements, proofs and implications of the basic results.
• should be able to practice the application of theoretical results using SAS
• should be able to present  simple arguments and conclusions using   Decision analysis in making decisions