Module overview
This module will provide you with a sound foundation in the application of the many tools and techniques of management science. You are expected to learn the tools and the applications of modelling, optimization, computing and programming in solving practical problems drawn from many functional areas (operations, finance, marketing, and human resources, etc.) in different organizations (industry, finance, public sector, etc.).
Aims and Objectives
Learning Outcomes
Knowledge and Understanding
Having successfully completed this module, you will be able to demonstrate knowledge and understanding of:
- how to recognise and be able to formulate and solve problems that require integer programming and goal programming;
- how to model a wide range of business problems using optimisation techniques;
- how to solve linear programming problems using different techniques;
- how to obtain sensitive analysis reports, and understand the concept of duality;
- how to use a standard linear programming package.
Transferable and Generic Skills
Having successfully completed this module you will be able to:
- computer skills.
- problem structuring and solving;
- decision making;
- teamwork;
Subject Specific Intellectual and Research Skills
Having successfully completed this module you will be able to:
- apply the principles and techniques to solve practical business problems;
- critically analyse and interpret the solutions of decision-making.
Syllabus
- Understand how management science and business analytics approaches can be used to help business organizations and governments to make better decisions
- Analysing and modelling a wide range of business problems
- Solution approaches for different mathematical models
- The interpretation and implementation of mathematical models and solutions in business settings
Learning and Teaching
Teaching and learning methods
Made up of 24 lectures, including computer labs. No seminars or tutorials.
| Type | Hours |
|---|---|
| Independent Study | 126 |
| Teaching | 24 |
| Total study time | 150 |
Resources & Reading list
Textbooks
B Render, RM Stair Jr. and N Balakrishnan (2012). Managerial Decision Modelling with Spreadsheets. Prentice Hall.
BW Taylor III (2012). Introduction to Management Science. Pearson.
DR Anderson, DJ Sweeney, TA Williams AND M Wisniewski (2010). Introduction to Management Science: Quantitative Approach to Decision Making (Int'l Ed). South-Western.
FS Hillier and MS Hillier (2013). Introduction to Management Science: a Modelling and Case Study Approach with Spreadsheets. McGraw-Hill.
Assessment
Formative
This is how we’ll give you feedback as you are learning. It is not a formal test or exam.
Questions and answers
- Assessment Type: Formative
- Feedback: Questions are presented during lectures to test students’ knowledge. Individual/summative feedback is given. The individual feedback is provided for computer labs.
- Final Assessment: No
- Group Work: No
Summative
This is how we’ll formally assess what you have learned in this module.
| Method | Percentage contribution |
|---|---|
| Group work | 20% |
| Individual Coursework | 80% |
Referral
This is how we’ll assess you if you don’t meet the criteria to pass this module.
| Method | Percentage contribution |
|---|---|
| Individual Coursework | 100% |
Repeat
An internal repeat is where you take all of your modules again, including any you passed. An external repeat is where you only re-take the modules you failed.
| Method | Percentage contribution |
|---|---|
| Individual Coursework | 100% |
Repeat Information
Repeat type: Internal & External