Economics of Exchange

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MULTI-CRITERIA DECISION-MAKING USING 1000MINDS

BMBA 502 Economics

Himanshu Redhu

Ashlin Sha

Otago MBA

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MULTI-CRITERIA DECISION-MAKING USING 1000MINDS

BMBA 502 Economics

Himanshu Redhu

Ashlin Sha

Otago MBA

MBA Exchange Program – Which university to choose?

MBA Exchange Program – Which university to choose?

Table of Contents

1.0 Introduction 2

2.0 Defining a Problem 2

3.0 Decision Making Process 3

3.1 Model Creation 4

3.2 Alternatives Selection 4

3.3 Criteria Selection 4

3.31 Reputation of the Exchange University 5

3.32 Cost of Living 6

3.33 Variety of Elective Courses 7

3.4 Job prospects in the Exchange country 7

3.5 Duration of the Program 8

3.6 Weather 9

3.7 Class Diversity 10

3.8 Proximity from New Zealand 10

3.4 Preferences 11

3.5 Survey 16

3.6 Survey Analysis and Results 17

3.61 Analysis of the criteria and their rankings 17

3.62 Analysis of the alternatives and their rankings 20

4.0 Conclusion 23

1.0 Introduction

As part of the Economics course, Otago MBA 36 students were expected to undertake a project, involving a decision problem, which involved tools and techniques such as Multi-Criteria Decision-Making and Conjoint Analysis.

Otago MBA students are more often than not faced with decision making problem regarding the phase two of the MBA program. And the question that they always have to answer for themselves is which university to choose for the exchange program. Both of us were also faced with the similar question and had to make our decision. So, we decided to take up the topic of exchange university decision making as our project because we feel that this project can be used by many future students to get an understanding on which university to choose from while considering the exchange option. It would also help the MBA staff and the exchange office to understand the likely demand for...