OPIM-555 Management Science
Management Science (MS) is a quantitative approach to managerial decision making. It is a body of principles, techniques and methods concerned with providing solutions to managerial problems. Management Science is not statistics. However, as in many other fields of study it may employ statistics to obtain model inputs, analysis and outputs.
In our approach to Management Science we will draw from topics that immediately link to and have an interface with your courses in the program. In particular, our Management Science course is designed to offer a well integrated sequence of quantitative topics in support of select concepts encountered in your Operations Management, Finance and Marketing courses. This approach is consistent with our objective of teaching an integrated course where the topics covered serve to support, reinforce and assimilate the conceptual teachings of your first year core courses. Related material, assignments and cases illustrate topical concepts and their integration. The material covered include: Break-even Analysis; Inventory Models; Statistical Process Control; Decision Analysis; Black & Scholes and Binomial Option Pricing Models; Linear Optimization; Non-Linear Optimization portfolio risk minimization (time permitting).
Prerequisites: OPIM 554 (or equivalent)
Other academic years
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