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2017/18 Taught Postgraduate Module Catalogue

LUBS5709M Management Decision Making

15 creditsClass Size: 80

Module manager: Nicola Bown

Taught: Semester 1 View Timetable

Year running 2017/18

Module replaces

LUBS 5710M

This module is not approved as an Elective


Decision making is a key management function. Participants will obtain an understanding of the thinking processes that underlie their own and others’ judgement and decision making, the judgmental errors and decision biases that commonly arise, and strategies for improving decisions. They will also evaluate a number of approaches to structured decision aids.

Learning outcomes
Upon completion of this module students will be able to critically evaluate:
- the thinking processes which underlie participants own and others’ judgement and decision making, including the distinction between System 1 and System 2 thinking
- different types of errors / biases in human judgement/decision making and ways in which these can be overcome
- the use of structured decision aids designed to improve the quality of human decision making and ways to implement them in management and other situations on the basis of experience gained on the module
- the information context within which businesses operate and the implications of this for business analysis and decision making

Skills outcomes
Upon completion of this module students will be able to:
- analyse and think critically
- communicate in writing at an advanced level
- make and influence decisions both individually and in groups
- effectively negotiate
- appraise, manage and communicate risk

Subject specific
- Use decision making concepts and language to reflect upon and evaluate their own thinking/decision making processes and those of others around them


Indicative content:
Introduction to decision research, decision framing and prospect theory; judgmental heuristics and biases and ways of debiasing/improving judgement; risk perception and risk communication; structured approaches to decision aiding, decision trees, risk analysis, SMART and scenario planning.

Teaching methods

Delivery typeNumberLength hoursStudent hours
Private study hours106.00
Total Contact hours44.00
Total hours (100hr per 10 credits)150.00

Private study

Reading from core texts; practice exercises; limited amount of reading of key articles on both decision sciences and business analytics.

Opportunities for Formative Feedback

Via regular class exercises and feedback on performance both in class and through completion of examples

Methods of assessment

Assessment typeNotes% of formal assessment
Essay3000 words100.00
Total percentage (Assessment Coursework)100.00

The resit for this module will be 100% by coursework.

Reading list

The reading list is available from the Library website

Last updated: 30/01/2018


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