The Concentration in Decision Sciences gives students a set of analytical tools that are useful in a variety of industries and functions. Tools include constructing decision tree models to evaluate different R&D projects, using regression models to forecast sales, building optimization models for production or distribution systems, or using game theory to analyze the impact of launching a new product in a competitive marketplace. These tools are useful in a variety of business analysis roles and the disciplined thinking underlying these tools—thinking carefully about objectives, risks, competition, and using data wisely—are invaluable throughout a business career.
Because of its flexibility, the Decision Sciences concentration is an ideal complement to concentrations in finance, marketing, operations or consulting. In this role, it provides deep analytical skills to accompany more functionally-oriented concentrations.
The concentration requires a foundation of 3 analysis-focused electives (from the first category below) and at least 2 courses (from the second category below) that consider applications of analytic tools in other disciplines. Finally, the concentration requires at least 1 course in behavioral decision making to ensure that analytically-oriented students develop an appreciation for the psychological and sociological forces that affect individual and organizational decision making.
Students must take a total of 18 credits allocated as follows; all courses are worth 3 credits.
Analytic Methods — Choose at least 3 of the following courses:
DECISION 611 — Decision Models
DECISION 613 — Strategic Modeling and Business Dynamics
DECISION 614 — Forecasting
MGRECON 784 — Game Theory for Strategic Advantage
MGRECON 788 — Competitive Analysis
Applications and Additional Tools — Choose at least 2 of the following courses:
DECISION 617 — Information Management
ENRGYENV 626 — Modeling and Analysis for Environmental Sustainability
ENVIRON 716L — Modeling for Energy Systems (3 credits)
FINANCE 647 — Investment
FINANCE 648 — Derivatives
MARKETNG 796 — Market Intelligence
MARKETNG 802 — Marketing of Innovations
MARKETNG 803 — Customer Relationship Management
MARKETNG 808 — Strategy and Tactics of Pricing
MGRECON 782 — Environmental Economics
OPERATNS 824 — Service Operations
OPERATNS 828 — Supply Chain Management
An additional fourth course from the Analytic Methods category above may also be counted here.
Behavioral Decision Making — Choose at least 1 of the following courses:
FUQINTRD 693 — Irrational Choices, Unconscious Decisions and Market Failure (Formerly FUQINTRD 898)
MANAGEMT 744 — Managerial Decision Making
MANAGEMT 745 — Negotiation
MANAGEMT 746 — Power and Politics
MARKETNG 797 — Consumer Behavior
MGRECON 787 — Behavioral Economics (Formerly MGRECON 898)