BA4518 DECISION ANALYSIS: BEHAVIORAL AND PSYCHOLOGICAL PERSPECTIVE
| Course Code: | 3124518 |
| METU Credit (Theoretical-Laboratory hours/week): | 3 (3.00 - 0.00) |
| ECTS Credit: | 6.0 |
| Department: | Business Administration |
| Language of Instruction: | English |
| Level of Study: | Undergraduate |
| Course Coordinator: | Assoc.Prof.Dr. MUSTAFA SİNAN GÖNÜL |
| Offered Semester: | Fall or Spring Semesters. |
Course Objectives
By the end of the course the students will be able to
- attain an understanding on the basic concepts and theories related with the psychological & behavioral approach to decision making and judgment.
- interpret and criticize experimental & behavioral studies in the literature
- gain the necessary information and skills to search for and locate recent & relevant literature on a particular subject
- Prepare and communicate a group presentation to elaborate the basic concepts and theories learnt in the lecture with examples from recent literature
Course Content
Decision analysis is an interdisciplinary field that aims to provide a structured and systematic approach to guide the decision making activities in complex problems. At the same time, it attempts to understand the preliminary mechanisms underlying human judgment as well as the cognitive and psychological factors that affect the mental processes behind managerial decision making. The primary objective of this course is to provide an understanding on this perspective. Topics to be covered include rationality and managerial decision making, analysis of judgment, heuristics and biases, prospect theory, framing effects, the perception of risk and group decision making.
Course Learning Outcomes
By the end of the course the students will be able to
- make sense of rationality/bounded rationality, dual-system approach (intuitive vs. reflective thinking), social judgment theory and probabilistic mental models
- make sense of heuristics and biases
- make sense of and interpret prospect theory
- make sense of perception of risk
- make sense of group decision making theories
- learn and recall many different experimental designs/setups and their limitations in the literature
- interpret and criticize the results obtained from experimental & behavioral work in the literature
- access the relevant websites to find recent literature on the internet
- conduct keyword search and filter the results to find recent studies
- participate in team-work to prepare a group presentation to elaborate the basic concepts and theories learnt in the lecture with examples from recent literature
- effectively communicate this team-work to other classmates via oral presentation in English
Program Outcomes Matrix
| Level of Contribution | |||||
| # | Program Outcomes | 0 | 1 | 2 | 3 |
| 1 | They attain advanced level of knowledge in the functional areas of business administration such as strategic management, marketing, accounting, finance, organization management, human resources, and operations management. | ✔ | |||
| 2 | They are capable of identifying and analyzing legal, environmental and social factors, which influence the basic functional areas of the business administration. | ✔ | |||
| 3 | They understand and implement rational, systematic and scientific approaches effectively in problem solving and decision-making processes. | ✔ | |||
| 4 | They are capable of applying, analyzing, synthesizing and evaluating the knowledge they have in diverse fields efficiently | ✔ | |||
| 5 | They are capable of transferring information by using efficient verbal and written communication techniques. | ✔ | |||
| 6 | They are capable of performing professional communication effectively also in English. | ✔ | |||
| 7 | They know the methods of performing efficient teamwork. | ✔ | |||
| 8 | They are capable of following the contemporary techniques, scientific and technological developments in their fields and are able to conduct research and studies in order to develop their business administration related knowledge, skills, and competences. | ✔ | |||
| 9 | They are knowledgeable in the areas of professional ethics and responsibility. | ✔ | |||
| 10 | They are capable of utilizing their knowledge and skills efficiently in global and multicultural contexts. | ✔ | |||
| 11 | They are knowledgeable in the issues of environment, social responsibility, social justice, quality and cultural values | ✔ | |||
| 12 | They have a creative, innovative and critical perspective. | ✔ | |||
0: No Contribution 1: Little Contribution 2: Partial Contribution 3: Full Contribution