Decision making, uncertainty and risk are inherent to almost all man-made systems. Effective decisions lead to success and incorrect decisions lead to failures. In this course, students will learn  principles and tools for making more beneficial decisions. Students will acquire the knowledge and analytical capability of  a principled approach to formulate and solve a decision problem, by accounting for uncertainties in the system or environment and incorporating risk attitudes.

Note: To pass the course, apart from obtaining a minimum of 40% in the overall mark, a student must also obtain a minimum mark of 30% in both continuous assessment and examination components.