Management Science

Module code: EC3057

Module co-ordinator: Jim O'Hare

Description

Management science, some people call it operational research, is a mathematical approach to solving real business problems to help managers to make important decisions. It is very important for managers to be able to plan effectively and to make efficient use of, scarce, resources.

Techniques used will help managers to make decisions in relation to project management, inventory management, allocating scarce resources to maximise profits and minimising the impact of queues and bottlenecks. The techniques used are based on theory, but that theory has been developed for use by managers in the world of work.

Topics Covered

• The ability to generate a mathematical model of a verbally expressed management decision problem.
• Standard management science modelling techniques and their application to various business problems.

Learning

• 20 one hour lectures
• 5 one hour tutorials

Assessment

There will be 3 small pieces of assessed coursework that are equally weighted and will make up 20% of your final mark for this module. A one and a half hour examination paper in which two questions are to be answered from a choice of four will make up the remaining 80%.