AMS4000 - Strategic Analysis and Modelling

Year of Study:3 - 4
Credit Units: 3
Duration: 45hours
Prerequisites: AMS3300 Statistical Inference or with the Instructor’s permission and upon
endorsement of the relevant Chairperson or Programme Director.
Module Description
This module aims to provide students with a close look at the process of
decision analysis, to enable students to understand the theories and methods for
decision analysis under uncertainty, to develop students’ effective
decision-making skills for risk management, and to enable students to apply the
concepts to deal with real-world problems in industrial and financial areas.
Learning Outcomes
Upon completion of this module, students should be able to:

  1. understand the fundamental concepts and theories of decision analysis;

  2. apply the statistical decision making knowledge and techniques;

  3. apply decision making techniques for decision analysis under uncertainty; and

  4. solve decision problems and present decision analysis results with/without the use of computer software.