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Course Code: 
ISE 432
Course Period: 
Spring
Course Type: 
Core
Theoric: 
2
Practice: 
1
Credits: 
3
ECTS: 
6
Course Language: 
English
Courses given by: 
Course Assistants : 
Course Objectives: 
The purpose of this course is to provide an in depth coverage and applications of Decision Making to complex real-world problems. Major objectives of this course include; • Applying statistical models to complex decision problems • Rational reasoning in critical thinking, modeling and decision making • Analysis and structuring of the decision problem • To understand the limits of the scientific theories (probability theory, etc.) that we use to find solutions to complex decision problems of the real world.
Course Content: 

1. Modeling of the Decision Problems: Elements of Decision problems, Structuring Decisions and Sensitivity Analysis

2. Modeling Uncertainty: Basics of Probability theory, Probability Models, Data Analysis and Value of Information

3. Modeling Preferences : Basic concepts of Preference Model

Course Methodology: 
1: Lecture by instructor, 2: Lecture by instructor with class discussion, 3: Problem solving by instructor, 4: Use of simulations, 5: Problem solving assignment, 6: Reading assignment, 7: Laboratory work, 8: Term research paper, 9: Presentation by guest s
Course Evaluation Methods: 
A: Written exam, B: Multiple-choice exam C: Take-home quiz, D: Experiment report, E: Homework, F: Project, G: Presentation by student

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