The purpose of this course is to provide students with a fundamental understanding of the various techniques used in Management Science - the attempt to apply mathematical and visual models to solving business problems. This course covers fundamental quantitative methods for business decision making: problem formulation, analysis and use of management science tools. Upon completion of the course, students are expected to be able to:
Introduction to management science; Linear programming: model formulation, graphical solution and simplex method; Sensitivity analysis; Integer programming; Transportation models; Assignment models; Network flow analysis; Project management (i.e., CPM & PERT); Queuing analysis; Probability and statistics; Decision analysis; Forecasting; Inventory management models; Simulation analysis and application of these techniques in areas such as production, distribution, marketing, finance, and accounting.
Taylor, B., Introduction to management science, Pearson, Boston, USA, 2016.
Continuous assessment 40%
Written examination 60% (1×3 hours)
Phone: +675 473 4999
Fax: +675 475 7776