This course aims to introduce students and other interested professionals in business, engineering, mathematics, social sciences (economists) and statisticians to the foundational & philosophical issues underlying the quantification of uncertainty via probability, its relationship to utility, and to decision making under uncertainty. The course will focus on the theoretical underpinning, and a historical perspective on some of the most commonly used methodologies, like significance tests, odds ratios, hypotheses testing, Bayes' factors, etc.