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
Transferable and Generic Skills
Having successfully completed this module you will be able to:
- problem structuring and solving;
- computer skills.
- 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.
Knowledge and Understanding
Having successfully completed this module, you will be able to demonstrate knowledge and understanding of:
- how to obtain sensitive analysis reports, and understand the concept of duality;
- how to use a standard linear programming package.
- how to solve linear programming problems using different techniques;
- how to model a wide range of business problems using optimisation techniques;
- how to recognise and be able to formulate and solve problems that require integer programming and goal programming;
Syllabus
- Model building for business problems. Linear programming model formulation and graphical solution
- Analysis of special linear programming solutions
- Linear programming applications and their computer solution
- The Simplex method for solving linear programming
- Duality and sensitivity analysis in linear programming, including graphical sensitivity analysis, simplex-based sensitivity analysis, and computer sensitivity analysis
- Integer programming: modelling, applications and algorithms,
- Transportation, assignment and transhipment problems
- Multicriteriai decisions.
Learning and Teaching
Teaching and learning methods
Made up of 24 lectures. No seminars or tutorials. Students are allowed to select their own group members, normally 4 students in a group. Since the assignment is about mathematical modelling, students are expected to arrange all meeting themselves, including discussing problems, building up models, solving the models using software arrange, and writing reports. There will be a very brief introduction about group work, which normally occurs during lectures.
| Type | Hours |
|---|---|
| Independent Study | 126 |
| Teaching | 24 |
| Total study time | 150 |
Resources & Reading list
Textbooks
FS Hillier and MS Hillier (2013). Introduction to Management Science: a Modelling and Case Study Approach with Spreadsheets. McGraw-Hill.
BW Taylor III (2012). Introduction to Management Science. Pearson.
B Render, RM Stair Jr. and N Balakrishnan (2012). Managerial Decision Modelling with Spreadsheets. Prentice Hall.
DR Anderson, DJ Sweeney, TA Williams AND M Wisniewski (2010). Introduction to Management Science: Quantitative Approach to Decision Making (Int'l Ed). South-Western.
Assessment
Formative
Formative assessment description
Individual Coursework Questions and answersSummative
Summative assessment description
| Method | Percentage contribution |
|---|---|
| Individual Coursework | 60% |
| Group project | 40% |
Referral
Referral assessment description
| Method | Percentage contribution |
|---|---|
| Individual Coursework | 100% |
Repeat
Repeat assessment description
| Method | Percentage contribution |
|---|---|
| Individual Coursework | 100% |
Repeat Information
Repeat type: Internal & External