Management Science (Fall 2015) Syllabus

AD 353.02: Th 567 @ IB211 / AD 353.03: W 567 @ M 1170

Mustafa Hayri TONGARLAK

tongarlak@boun.edu.tr

Course
Objective

Structuring managerial decision models that represent complex problems from a wide
range of business areas including operations, marketing, finance, and strategy;
analyzing and ultimately solving such models - on spreadsheets - applying analytical
techniques including optimization, simulation, and decision trees.

Scope

Optimal resource allocation (how to best utilize available resources)

Risk analysis (how to incorporate uncertainty in problem parameters)
Decision analysis (how to synthesize a sequence of decisions involving uncertainty)
Data analysis (how to summarize available data into useful information)

Prerequisites

Some familiarity with functional areas of management such as operations, finance, and
marketing. Basic statistical and financial concepts such as net present value, discounted
cash flow analysis, random variables, probability distributions, expected values,
variance, and so on. Working knowledge of Excel.

Class Work

Preparation for each class involves reading and preparing the case(s) to be covered in
that class. Data files relating to these cases should be downloaded from Dropbox before
(not during) the class. They will be used in class to build models, analyze them, and
interpret solutions. Everyone is expected to attend all classes on time, and actively
contribute to the class discussion, sharing ideas, experiences and insights. To minimize
delays and disruptions, please come to the class early and set up your laptop.

Performance
Evaluation

The course grade will be based on

Recommended
Textbooks
(selected CHs)

Introduction to Management Science, by F.S. Hillier and M.S. Hillier, McGraw Hill, 5e, 2013
Management Science Modeling, by W. Winston and C. Albright, South-Western, 4e, 2011
Managerial Decision Modeling, by C. Ragsdale, South-Western, 6e, 2011
An Introduction to Management Science, by D.R. Anderson et al., South-Western, 13e, 2011

Required
Software

Microsoft Excel 2007 or newer for Windows;

Excel add-ins Solver (comes with installation),
Precision Tree, @RISK, and RiskOptimizer (provided by the instructor).
If you are a Mac user, you must find a way to be Windows compatible,
DecisionTools Suite will not work in Mac.

Honor Code

You must not obtain solutions to the assignments, cases or projects from other students
in the past or present classes. Also, you must not include your name on a group report
if you have not contributed substantially to the group work.

individual and group assignments,

a midterm exam and a modeling challenge,
the final project and its presentation,
class participation, which includes class attendance as an essential component.