J.E.

Cairnes School of Business & Economics

Decision Theory and Analysis

MS5104
Module Outline 2022-2023
The objective of this course is to introduce students to the different
Aims & aspects of decision theory and analysis and specifically how these apply
Objective to business.

Name Office Contact E-mail

Lecturer
Dr. Anastasia Griva 345 anastasia.griva@nuigalway.ie

Upon completion of this module, you will be able to:

• Critically evaluate the role and types of decision making in
enhancing individual and organisations performance
• Evaluate different decision-making methods, models, tools and
Overall techniques
Module • Assess and decide upon the best decision-making tools to use in
Learning situations of uncertainty and risk.
Outcomes • Develop a data visualisation and present key findings to support
decision-making within a business context.
• Critique future trends, challenges, and opportunities on the role of
technology for decision-making.

MSc in Business Analytics; Masters in Accounting; Diploma in Digital

Programme
Transformation
Lectures: Day: Venue:
Times Time: 10 - 11pm
Sem I Friday AUC-G002
The course comprises of seven key topics across 12 weeks
• Tableau tutorial material will be made available online (self-
directed learning)
Format • Live sessions will be delivered online (1 hour per week) to
facilitate discussion on lecture and tutorial material (see day/time
above)

Prescribed Text
Goodwin P. and G. Wright, Decision Analysis for Management
Judgement, 5th Edition, John Wiley and Sons publishers, 2014.
Core Text
Supporting Texts
Business Intelligence, Analytics and Data Science, 4th Edition, by
Ramesh Sharda, Dursun Delen and Efraim Turban, published by
Pearson in 2018.

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Units Readings
Topic 1: Introduction to
Decision-Making in a Business Context
• Define decision-making and its characteristics
Ch 1, Goodwin &
• Explain the decision-making process and potential
Wright
barriers in a business analytics context
Supplementary
• Describe various approaches to decision-making
Readings
• Examine a case study and critically evaluate decision-
making process

Topic 2: Visualisation and Supplementary

Decision Making Readings
• Explain the fundamentals of data visualisation Tableau
• Evaluate different Data Visualisation techniques and Tutorials (self-
become proficient in a Data visualisation tool learning)

Topic 3: Algorithmic Decision Making Ch 1, & Ch 2,

• Examine how Information Systems help managers Goodwin &
make better decisions Wright
• Understand and evaluate the key issues of Supplementary
algorithmic decision making Readings

Ch 10, & Ch15

Topic 4: Heuristics, Biases and Framing in Goodwin
Decision Making & Wright
Module Supplementary
• Contrast the different ways of making decisions
Content & Readings
• Recognise good practice in the decision-making
Learning process.
Material • Appraise the role of mental models in decision
making
• Propose emerging Information Systems that have the
potential to impact decision making

Topic 5: Decisions involving Multiple Objectives Ch 3 & 4,

• Evaluate different methods used in decisions Goodwin and
involving multiple objectives Wright
• Identify the benefits and challenges of involving Supplementary
multiple objectives Readings

Topic 6: Decision Trees and Influence Diagrams Ch 7, Goodwin

• Determine benefits and drawbacks of and
techniques such as: Wright
o Decision trees Supplementary
o Bayesian networks Readings
o Analytical hierarchy processes

Topic 7: Decision-Making and Business Value Supplementary

• Critique of case studies on business analytics value Readings
• Analytics and complementary capabilities
• Review of emerging research
• Future trends for decision-making in business
analytics

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Monitoring attendance has a positive impact on student engagement,

especially when you can review your own attendance on Blackboard
and receive emails about absence. You should attend in-person on-
campus for all aspects of this module unless for legitimate reasons (for
example, disability, medical, or family emergency) which you have
reported to the lecturer. To support students, the J.E. Cairnes School of
Business & Economics will monitor attendance at classes to (i) identify
Attendance students that may be failing to engage with the programme and (ii)
student participation in various modules. Qwickly Attendance will be
used within Blackboard to allow lecturers to take attendance at the
module level, and for students to keep track of the same. Lectures will
outline instructions for attendance in class.

Student principles on general attendance can be found here

End of Year Examination 70%
Continuous assessment (CA)* 30%

Assessment *Details on the CA will be given during the term. To avail of the
associated marks each student must submit the assignment by the date
indicated (to be announced). Late submissions will not be accepted.

Credit weighting: 5 ECTS

Lecture hours: 24
Independent Study: 84
Workload Associated hours: 15
Final exam 2
Total Student Effort: 125 hours

Plagiarism is the use of another person’s ideas or work without

appropriate acknowledgement or credit. Plagiarism may be intentional or
unintentional.

If you are unsure of the acceptable methods of acknowledgment you

should refer to the NUIG Code of Practice for Dealing with Plagiarism,
Plagiarism consult with your lecturer or the library staff. Proven plagiarism is a very
serious matter which may result in severe disciplinary action and/or
exclusion from the University.

Ensure all assignment submissions include a signed plagiarism

statement.

Correct referencing and citation avoids plagiarism. There are varying

referencing styles available but the most popular is the Harvard
Referencing Style. Details on how to reference journal articles, books,
Referencing
electronic information and various other supports is available from the
& Citation
NUI, Galway Library at the following link:
http://libguides.library.nuigalway.ie/c.php?g=543943&p=4591416

Blackboard Ally supports you to access more user-friendly file formats.

Blackboard
Please contact the lecturer if you experience any accessibility issues for
Ally
this module material. Should you have a visual disability and require the

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J.E. Cairnes School of Business & Economics

document in another format, please contact the lecturer to explore

alternative format options.
Ally: https://www.youtube.com/watch?v=tOORcSEjtJU#action=share

Support is available to students with a disability and is granted on the

basis of medical evidence. Where applicable, a LENS Report (Learning
Educational Needs Summary) should be completed and the relevant
disciplines notified. It is your responsibility to send your LENS report to
your lecturers/ course coordinator at the beginning of each semester.
LENS Report
Students should let their lecturers know that relevant exam
accommodations are required. Lecturers can also request that students
let them know if they are registered with the Disability Support Service
and have a LENS Report.

We are guided by our core values of respect in our actions, excellence in

our work, openness in our outlook and sustainability in our approach. We
focus on equality by treating people with respect and dignity, and
providing everyone with access and opportunities to fulfil their potential.
We embrace diversity to enrich our School environment by sparking
innovation and creating a rewarding and vibrant student community.
Within the J.E. Cairnes School of Business & Economics, at a module-
Classroom level we aim to create and nurture an environment that is respectful and
Charter inclusive for all. To achieve this, we will:
• Treat each other with dignity and respect.
• Listen to each other’s point of view, recognising that there may be
disagreement.
• Keep discussion, comments, and module feedback on the topic, and
off the people.
Do not use inflammatory or offensive language, sarcasm or raised
voices.

This module outline is available on blackboard in pdf format. Should you have a visual disability
and require the document in another format, please contact us and we will oblige.

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