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Decision-making theory

Course Description: The course covers a number of mathematical methods used for decision-making in managerial and economic fields. The course focuses on how to formulate and make decisions under risk and uncertainty, presenting some real-world cases faced in various business areas and how to formulate them and make optimal decisions using these methods. Additionally, the course covers the explanation and introduction of game theory, queuing models, and Markov chains.
Credit hours: 3
Prerequisites: MATH111
Objectives of the course :

• Knows the basic terms and concepts related to decision-making theory.
Analyzes advanced processes, methods, practices, and different management techniques in decision-making theory.
Applies basic concepts related to decision-making theory to solve some real-world problems.
Excel is used to solve real-world problems related to decision-making theory.

Course outputs :

Introducing the student to the basic terms and concepts related to decision-making theory.
Developing the student's ability to analyze advanced processes, methods, practices, and various management techniques in decision-making theory.

Additional information:
  • Last updated: 2026-04-26

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