SCHOOL OF _BUSINESS
AY _2019 - 2020
COURSE CODE
COURSE TITLE
COURSE DESCRIPTION
COURSE UNIT: __units
CLASS CONTACT HOURS: 48
(4.5 hours a week x 12)
PRE/CO-REQUISITE:
COURSE OBJECTIVES
TIME
ALLOTMENT
Wk1 Introduction to Mathematical Modeling w.
Spreadsheets
COURSE SYLLABUS
AE4
Management Science
 This course introduces you to quantitative methods and
their application to management problems. Its main topics
include problem formulation and mathematical
programming, sensitivity analysis, simulation, and decision-
making under uncertainty. We will apply these models and
ways of thinking to several functional areas of business,
including operations, marketing, and finance.
Three (3) units
4.5 hours a week x 12
None
Introduction to Management Science (4th Edition) by Frederick S.
Hillier and Mark S. Hillier, 2011 (ISBN: 978-0-07-809660-0
 To introduce students to the subject of Management
Science, and a variety of management science models,
methods and computational procedures that are helpful in
solving management problems in Finance, P.O.M.,
Accounting, M.I.S., Marketing, Operational Research,
Actuarial Science, etc.. Emphasis is placed on models and
their solutions.
 To give students a good foundation in basic problem solving
as a preparation for upper level quantitative courses
(Finance, Production/ Operations Management, Accounting,
M.I.S., Marketing, Operational Research, Actuarial Science,
etc.).
 To develop in students an appreciation of the management
science approach to problem formulation and solution, so
important in the modern business and industrial world with
the increased use of computers.
TOPIC TEACHING OUTCOME MEASURES
STRATEGIES
 Group
discussion
 Lecture using
audio-visual
presentation
 Problem solving
(board work and
seatwork
Wk2 Introduction to Mathematical Modeling w.  Group
Spreadsheets discussion
 Lecture using
audio-visual
presentation
 Problem solving
(board work and
seatwork
Wk3 Introduction to Mathematical  Group
Programming discussion
Introduction to Linear Programming (LP)  Lecture using
LP Assumptions audio-visual
Infeasibility and Unboundedness presentation
Reading solver output and sensitivity  Problem solving
analysis (board work and
Modeling LPs using Excel solver seatwork

Wk4 Linear Programming Models  Group

Workforce scheduling models discussion
Aggregate planning models  Lecture using
Blending models audio-visual
Dynamic financial models presentation
 Problem solving
(board work and
seatwork
Wk5 Network Models  Group
The transportation model discussion
The minimum cost network flow model  Lecture using
The shortest path model audio-visual
presentation
 Problem solving
(board work and
seatwork

Wk6 Network Models  Group

The assignment model discussion
The maximum flow model  Lecture using
audio-visual
presentation
 Problem solving
(board work and
seatwork

 Group
Wk7 Introduction to Integer Programming
discussion
Using integer variables
 Lecture using
Capital budgeting model
audio-visual
presentation
 Problem solving
(board work and
seatwork

Wk8 Introduction to Integer Programming  Group

Fixed cost model discussion
Either/or constraints  Lecture using
Warehouse Location audio-visual
presentation
 Problem solving
(board work and
seatwork
 Wk9 Nonlinear Programming
 Group
Introduction to nonlinear optimization
discussion
Pricing Models
 Lecture using
Response Models
audio-visual
Facility Location Models
presentation
Evolutionary Solver
 Problem solving
(board work and
seatwork

Wk Introduction to Decision Analysis  Group

Decision Trees discussion
Bayes' Rule  Lecture using
Value of Information audio-visual
Decision Analysis examples presentation
 Problem solving
(board work and
seatwork

Wk Decision Analysis  Group

Attitudes towards risk discussion
Utility  Lecture using
Monte Carlo Simulation audio-visual
Introduction presentation
Simulation with Excel tools  Problem solving
(board work and
seatwork

Wk
Wk
Wk
Wk
Wk
Wk
Wk
Wk
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Wk
REFERENCES

GRADING SYSTEM Attendance 10%

Class participation 30%
Prelim 20%
Midterm 20%
Final 20%
TOTAL 100%