Foundation Courses

Decision Making Under Uncertainty
Provides a comprehensive treatment of basic statistical concepts for managers. Topics covered include elementary probability theory as a tool for modeling uncertainty in business, time series, categorical data, random variables and their distributions, variability and regression models. The emphasis is on understanding the concepts and their application. The course will also introduce and apply advanced tools to managerial decision problems with the objective of enhancing the decision making capabilities. The course will cover optimization (finding ‘what’s best’ from the available options), simulations (trying ‘what if’ in uncertain environment turns out to be different from expected) and decision analysis (deciding the ‘what now’ in the sense of what we should do given the information we had in the past).
Financial Accounting in Decision Making
This course will focus on understanding the identification, measurement, and the recording of business transactions in the financial statements, and more crucially on how managers can use the financial statement information in their analysis and appraisal of business performance. Emphasis will be on how managers can use accounting data to evaluate the firm’s financial performance and position, rather than on actual preparation of the statements. However, being an introductory course, we will cover the basic vocabulary and mechanics of financial accounting through the text, problems and cases.