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Module Title
LM Multicriteria Decision Making
School
Mathematics
Department
Mathematics
Module Code
06 19613
Module Lead
Joerg Fliege
Level
Masters Level
Credits
10
Semester
Semester 2
Pre-requisites
Co-requisites
Restrictions
Compulsory for MSci Mathematics with Business Management; Optional for all MSci programmes in Mathematics and MSci JH programmes including Mathematics
Contact Hours
Lecture-23 hours
Tutorial-5 hours Total: 28 hours
Exclusions
Description
In multicriteria or multiobjective optimisation, several conflicting objectives have to be optimised simultaneously: stock portfolios have to be chosen such that the portfolio maximises the return and simultaneously minimises the risk; health care has to be managed such that the service is efficient yet not too costly; hazardous material has to be transported such that risk as well as costs incurred are minimal; bridges and buildings have to be designed such that they can be built cheap but still with maximum stability etc. As such, multicriteria problems are of prime importance for decision makers in the private as well as the public sector. This module brings together various ideas from geometry and analysis in studying solutions and solution methods for multicriteria problems in management and science.
Learning Outcomes
By the end of the module the student should be able to:
Understand and explain the basic concepts of multicriteria optimisation
Formulate real-world problems from management and science as multicriteria optimisation problems
Discuss different solution concepts
Assessment
19613-01 : Raw Module Mark : Coursework (100%)
Assessment Methods & Exceptions
90% based on a 1.5 hour written examination in the Summer Term; 10% based on work during term-time.
Other
Reading List
Hillermeier, C. Nonlinear Multiobjective Optimisation. Birkhaeuser.
