Course in Decision Making in a Complex and Uncertain World

FutureLearn

Program Description

Course in Decision Making in a Complex and Uncertain World

FutureLearn

Why join the course?

Leaders must be able to act in a complex world and under uncertainty. This course is a first step to develop yourself into one of the future’s key decision makers or to enhance your decision-making skills.

First, this course will address what complexity is and will define uncertainty. Next, we cover a number of tools and methods to understand and be able to navigate through the complex and uncertain world.

The need for a multidisciplinary approach will be emphasised throughout the course. Guest lecturers from different faculties will explain, provide applications and examples from their respective fields of study for a more comprehensive understanding of the different elements of complexity. For example, complexity can be beautifully explained by the use of insects and brains and many other natural and social phenomena. The same ideas can be applied to economic and financial systems.

After introducing the first principles, guest lecturers will cover interdisciplinary aspects of complexity. These are graph theory and networks, emergent behaviour, agent-based modelling, evolutionary dynamics, cellular automata and self-organisation, complexity in history, decision making under uncertainty, heuristics and biases and subsequently entrepreneurship. Finally, relating this all back together in two case studies will conclude the course. The first case study is financial stability and crises and the latter is growth and development of cities.

By completing this course you will have developed skills and knowledge that will enhance your decision-making skills in order to act in a complex world and under uncertainty.

This course has received a major update in 2016 with added content on agent-based modelling, entrepreneurship and city planning.

What topics will you cover?

  • Complex Systems
  • Fundamental Uncertainty
  • Graph Theory and Networks
  • Emergent Behaviour
  • Agent-Based Modelling
  • Evolutionary Dynamics
  • Cellular Automata
  • Self-Organization
  • Path dependence and complexity in History
  • Decision making under Uncertainty, Heuristics and Biases
  • Entrepreneurship
  • Financial Stability and Crises
  • Growth and Development of Cities

What will you achieve?

  • Explain the difference between complex and complicated
  • Explain the difference between risk and uncertainty
  • Explain the following concepts: emergence, networks, evolutionary dynamics, social self-organisation and path dependence
  • Experiment with complex systems in simple agent-based models.
  • Apply the course concepts and tools to the social sciences of history, entrepreneurship, economics and spatial planning
  • Debate how complexity and uncertainty influence human decision making and how you can counter these effects

Who is the course for?

Anyone should be able to participate in course. However, basic knowledge of economic, financial institutions, mathematics and logic will be helpful. The course will be taught at undergraduate level.

This school offers programs in:
  • English

Miscellaneous

  • FREE online course
  • Duration: 7 weeks
  • 5 hours pw
  • Certificates available
FutureLearn

Last updated March 21, 2017
Duration & Price
This course is Online
Start Date
Start date
Open Enrollment
Duration
Duration
7 weeks
Part time
Full time
Price
Price
Free
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Deadline
Locations
United Kingdom - UK Online
Start date: Open Enrollment
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Dates
Open Enrollment
United Kingdom - UK Online
Application deadline Request Info
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Price
FREE online course