Friday, June 20, 2008

Second-Year Course Bidding

Rotman utilizes a bidding system for the second-year courses.

We are allotted 1000 bidding points and are required to take 10 courses in the second-year. Bidding does not necessarily guarantee that you will get the course of your choice. In fact, if two students bid the same number of points for the same course, Rotman randomly allots the course to one of the students'. A few courses are extremely high in demand. The bidding points can go as high as 500 for one course, which means you have to somehow manage with the 500 points for the rest of your nine courses. The system is frustrating, because you cannot get all the courses of your choice!

Fair? I would say, Not! My reasoning is that I am paying $60K in tuition at Rotman. Hence, I have the right to take the courses of my choice. I should not have to decide between two equally important courses.

Hitesh made an interesting comment the other day. He said,"Well, Rotman is teaching you to manage an investment portfolio with the bidding system". After that remark, I looked at the bidding system from a slightly different perspective. One of the valuable lessons that I learnt from our Finance class is that; there is no such thing as "free money". If I want to make money in the stock market, I have to increase my tolerance for risk and invest in various stocks and bonds. In short, I have to have a diversified portfolio. I can either make millions, or loose everything. Similarly, If I want to diversify my course-portfolio, I will have to take chances with my bidding points.

While I am still not willing to sacrifice certain courses, I am willing to apply Game Theory to the bidding system. I have an excel spreadsheet set up to walk me through the bidding system. Nerdy? Definitely! :)

I am looking forward to the bidding results. Can I get all 10 courses of my choice?

Let's wait and watch the wonders of my excel spreadsheet :)

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