QBS 140 Decision & Cost Effectiveness Analysis with ILE project

This course covers the fundamental principles and mechanics of decision analysis and cost-effectiveness analysis. Topics covered in the course include basics of probability (including Bayes’ Theorem), structuring decision problems as decision trees and Markov models, components of preference (value preference, time preference, and risk preference), valuing multidimensional outcomes, evaluating decision trees, sensitivity analysis, value of information, and basic principles of cost-effectiveness analysis. Weekly problem sets are also used to reinforce the concepts presented in class. The course has a weekly lab that involves use of decision analysis software to reinforce concepts presented in class. Labs are also used for development, progress review and discussion of small group decision analysis projects, which culminate in formal presentations the last week of class. 

Instructor

Dr. Anna Tosteson & Dr. James Stahl

Cross Listed Courses

PH 121

Prerequisite

PH100, PH139, PH140 or permission of Instructor. Programming language: Students learn TreeAge Software.