Details of task: Read Part One of “Economics In One Lesson” by Henry Hazlitt and write an essay that applies the lesson to analyse a real world issue. Hazlitt’s book is free online at: http://www.fee.org/pdf/books/Economics_in_one_lesson.pdf. Apart from the book, you should have at least 3 other references as well. This is an essay that requires you to demonstrate a critical understanding of Hazlitt’s theory and how he applies it to real world examples. You are required to read part two of the book to see how Hazlitt applied the lesson to issues of his time. Follow Hazlitt’s model and analyze a current issue of your choosing. For further information on how to write an analytical essay please visit the Library’s Mastering Academic and Research Skills (MARS) moodle site http://moodle.vle.monash.edu/course/view.php?id=14925 Word limit: 1000-1500

 

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This task will require you to identify a discipline / industry / organisation (referred to as the research field) and to investigate an aspect of their decision-making needs as well as the opportunities for computer-based decision support systems development. Generic examples of research fields you may wish to consider could be the health sciences and patient monitoring, or the agricultural sector and the need to predict certain farming operations, or the university as it supports the decisions of international students, or a company as it budgets finances. The texts by Sharda et al (2014), and Web sites dssresources.com http://businessintelligence.ittoolbox.com/ and Australian Information Industry Association http://www.aiia.com.au/ and others provide examples of software tools and research fields where computer-based decision support are being developed. Wikipedia and Google are also good starting points. If you are unable to make a selection, the teaching staff can assist. This first assignment broadly aligns with the intelligence and design phases of Simon’s (1977)[1] decision-making model. The outcome of this assignment will be a business report containing your proposal. For the next stage of the assignment, you will need to develop your proposal into a project prototype which is also an individual assignment. This second phase broadly corresponds with the choice and implementation decision-making phases (Simon 1977). The assessment overall is designed to enable students to develop analytical and inquiry skills, writing, oral and interpersonal communication skills, organisational abilities, a sense of professionalism, as well as acquiring an understanding of the topic

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