2008/09 Undergraduate Module Catalogue
LUBS3885 Management Decision Making
20 creditsClass Size: 187
Module manager: Professor John Maule
Email: jm@lubs.leeds.ac.uk
Taught: Semesters 1 & 2 (Sep to Jun) View Timetable
Year running 2008/09
This module is not approved as an Elective
Objectives
On completion of this module, students will have:Reviewed and be able to analyse and criticise contemporary theory and research explaining how individuals, groups and organisations make decisions;
An understanding of the common errors and biases in individual and group decision making, why they come about and how they can be overcome;
Considered the implications of the above for the development and use of procedures for improving the quality of decision making, including methods based on improving decisional thinking and on the use of structured decision aiding;
A good understanding of the implications of factors identified above for understanding and improving managerial and their own decision making.
Syllabus
Individual decision making: normative theories; descriptive theories of risky decision making; decision framing, Prospect Theory and mental accounting; process theories. Implications for effective managerial decision making;
Human judgement of risk and uncertainty, heuristics and biases; ways of improving thinking underpinning judgement and decision making;
Motivational biases and the effects of mood, emotion and stress on human judgement and decision making;
Group decision making: effectiveness, errors and biases, groupthink, evaluation of group processes; improving group decision making;
Prescriptive theories: structured decision aiding; SMART; decision analysis; decision trees, scenario planning;
Risk communication: communication as part of risk management, public perceptions of risk, trust, social amplification of risk;
Bargaining and negotiation: the decision theoretic approach, common errors and biases, improving negotiation skills.
Teaching methods
| Delivery type | Number | Length hours | Student hours |
| Lecture | 22 | 1.00 | 22.00 |
| Seminar | 8 | 1.00 | 8.00 |
| Private study hours | 170.00 | ||
| Total Contact hours | 30.00 | ||
| Total hours (100hr per 10 credits) | 200.00 | ||
Private study
For each 20 credits of study taken, the expectation is that the normal study time (including attendance at lectures and tutorials, self-study and revision) is 200 hours.Opportunities for Formative Feedback
Students will receive feedback on their progress by completing a number of decision problems followed by a general discussion of their solutions, with students comparing their answers with the normative solution; feedback on their understanding of key concepts in seminars in terms of general discussion in class and 'model answers' provided on questions presented in the seminars; analysis and evaluation of individual/group presentations on key aspects of the course undertaken in seminars; feedback on their understanding of group decision making and negotiation based on exercises undertaken in classes; changes in their understanding of decision making and how to improve it based on a questionnaire given at the beginning and the end of the module; and feedback on the their performance at the formal examination at the end of semester 1.Methods of assessment
Coursework
| Assessment type | Notes | % of formal assessment |
| Written Work | 3,000 words. Resit of this module is assessed by a 3 hour written paper | 50.00 |
| Total percentage (Assessment Coursework) | 50.00 | |
Normally resits will be assessed by the same methodology as the first attempt, unless otherwise stated
Exams
| Exam type | Exam duration | % of formal assessment |
| Standard exam (closed essays, MCQs etc) | 2 hr 00 mins | 50.00 |
| Total percentage (Assessment Exams) | 50.00 | |
Resit by 3 hour written paper
Reading list
The reading list is available from the Library websiteLast updated: 30/03/2009
Browse Other Catalogues
- Undergraduate module catalogue
- Taught Postgraduate module catalogue
- Undergraduate programme catalogue
- Taught Postgraduate programme catalogue
Errors, omissions, failed links etc should be notified to the Catalogue Team.PROD