Decision Making Skills
Students should attempt to apply the terms and concepts covered during the semester to describe and analyse an everyday strategic (multi-person) decision situation of their choice.
Students should collect some relevant information but must not worry about covering the issue comprehensively; they should substitute missing data with reasonable assumptions. Instead of data collection the efforts should be focused on analysis, developing arguments, meaningful application of the relevant terms and concepts.
The project should
◦Describe the decision situation appropriately; options available, the constraints of the decision, timeline, uncertainty, risk;
◦Reflect on the necessary information (availability, depth, reliability)
◦Highlight the objectives of the decision makers; the (lack of) conflict of interest
◦Elaborate on the relative merits of the options available, compare their advantages and drawbacks; the paper shall address the intertemporal, risky and strategic aspects of the decision problem respectively.
◦Analyse the situation, characterize the optimal decision and the expected outcome
◦Evaluate the decisions made; suggest potential improvements.
Markers will assess the following points:
◦Formal and structural requirements of an academic paper, academic style, polished English (spellcheck, etc.), reasonable structure, acceptable paragraphing;
◦Appropriate Harvard-style referencing of adequate sources.
◦Description the situation, collection of relevant and appropriate data, reflection on availability, depth, reliability;
◦Recognition of the connections between real world phenomena and textbook material; meaningful application of basic terminology, theories, concepts
◦Depth of the critical analyses of ideas and/or arguments reviewed practices described during the semester
◦Logical design and explanation of well-founded arguments; convincing presentation of personal opinion.
Topic can be about ;
◦Decisions from business; selling or buying, trade negotiations; accepting a job. You can choose one of those three topics.