Undergraduate Programme and Module Handbook 2018-2019 (archived)
Module MATH3071: DECISION THEORY III
Department: Mathematical Sciences
MATH3071:
DECISION THEORY III
Type |
Open |
Level |
3 |
Credits |
20 |
Availability |
Available in 2018/19 |
Module Cap |
|
Location |
Durham
|
Prerequisites
- Calculus and Probability I (MATH1061) and Linear Algebra I (MATH1071).
Corequisites
Excluded Combination of Modules
Aims
- To describe the basic ingredients of decision theory, for
individuals and for groups, and to apply the theory to a variety of
interesting and important problems.
Content
- Introduction to decision analysis: utility.
- Uncertainty.
- Statistical decision theory: Bayes
decisions.
- Bargaining.
- Game theory.
- Influence diagrams, group decisions and social
choice.
Learning Outcomes
- By the end of the module students will: be able to solve
novel and/or complex problems in Decision Theory.
- have a systematic and coherent understanding of theoretical
mathematics in the field of Decision Theory.
- have acquired coherent body of knowledge of these subjects
demonstrated through one or more of the following topic areas:
Formulating decision problems and solving decision trees.
- Utility, value of money, multi-attribute utility.
- Use of data in decision making, statistical decision
theory.
- Sequential decision making.
- Game theory, including two-person zero-sum games.
- Bargaining, including Nash' theory.
- Group decisions and social choice.
- In addition students will have specialised mathematical
skills in the following areas which can be used with minimal guidance:
Modelling.
Modes of Teaching, Learning and Assessment and how these contribute to
the learning outcomes of the module
- Lectures demonstrate what is required to be learned and the
application of the theory to practical examples.
- Assignments for self-study develop problem-solving skills and
enable students to test and develop their knowledge and
understanding.
- Formatively assessed assignments provide practice in the
application of logic and high level of rigour as well as feedback for
the students and the lecturer on students' progress.
- The end-of-year examination assesses the knowledge acquired
and the ability to solve predictable and unpredictable
problems.
Teaching Methods and Learning Hours
Activity |
Number |
Frequency |
Duration |
Total/Hours |
|
Lectures |
42 |
2 per week for 20 weeks and 2 in term 3 |
1 Hour |
42 |
|
Problems Classes |
8 |
Four in each of terms 1 and 2 |
1 Hour |
8 |
|
Preparation and Reading |
|
|
|
150 |
|
Total |
|
|
|
200 |
|
Summative Assessment
Component: Examination |
Component Weighting: 100% |
Element |
Length / duration |
Element Weighting |
Resit Opportunity |
Written examination |
3 Hours |
100% |
|
Eight written assignments to be assessed and
returned. Other assignments are set for self-study and complete solutions
are made available to students.
■ Attendance at all activities marked with this symbol will be monitored. Students who fail to attend these activities, or to complete the summative or formative assessment specified above, will be subject to the procedures defined in the University's General Regulation V, and may be required to leave the University