Quantitative Decision Making (FUN118)

Program code:




Teaching language:

Lithuanian / English
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Course goals

This is a practical course dealing with the mathematical models supporting decision making in various fields of social sciences and practical environment, i.e. management, economics, and politics. In particular, what-if analysis, forecasting, optimization and multi-criteria decision making are dealt in the course. Computer spreadsheets are used all over the course.Objectives of the course include:

  • To develop structural and algorithmic mindset in dealing with operational issues;
  • To develop necessary skills for problem formulation, setting goals and parameters of the problem, choosing relevant model, translating it into the spreadsheet, and justifying alternative solutions of the problem;
  • To develop skills of data visualization;
  • To develop skills of using computer spreadsheets.

Course results

  • To be able to develop a mathematical model for relevant  problems in economics, finance, business and politics.
  • To be able to select relevant methods for the analysis of mathematical models, to draw quantitatively justified conclusions and to choose the best alternative.
  • To be able to analyze the mathematical model by means of the computer spreadsheet.
  • To be able to visualize arrays of data by means of the computer spreadsheet.