Bachelor
2023/2024
Mathematical Process Modelling
Type:
Compulsory course
Area of studies:
Business Informatics
Delivered by:
Department of Business Informatics
Where:
Graduate School of Business
When:
3 year, 2 module
Mode of studies:
offline
Open to:
students of one campus
Instructors:
Margarita Gladkova
Language:
English
ECTS credits:
3
Contact hours:
30
Course Syllabus
Abstract
Management science deals with decision making within a managerial context. It encompasses a number of systematic approaches to making decisions in problems often encountered by managers. In the modern world, intuition in decision making can be an unsafe guide. The distinctive feature of management science is the construction of an explicit, simplified model of relevant aspects of the decision making situation under study. Such models are often based on quantitative mathematical approaches, but may at times have a more qualitative character.
Learning Objectives
- • enable students to see that many managerial decision-making situations can be addressed using standard techniques and problem structuring methods
- • provide a comprehensive and concise introduction to the key techniques and problem structuring methods used within management science that are directly relevant to the managerial context
- • enable students to see both the benefits, and limitations, of the techniques and problem structuring methods presented.
Expected Learning Outcomes
- be able to discuss the main techniques and problem structuring methods used within management science
- to be able to carry out simple exercises using such techniques and problem structuring methods themselves (or explain how they should be done)
Course Contents
- Problem structuring and problem structuring methods
- Inventory control
- Markov processes
- Mathematical programming formulation
- Queueing theory and simulation
Interim Assessment
- 2023/2024 2nd module0.15 * Essay + 0.4 * Exam + 0.15 * Group task + 0.3 * In class tests
Bibliography
Recommended Core Bibliography
- An introduction to management science : quantitative approaches to decision making, , 2017
- Rational analysis for a problematic world revisited : problem structuring methods for complexity, uncertainty and conflict, Rosenhead, J., 2009
Recommended Additional Bibliography
- Taha H.A. Operations Research: An Introduction, 10-th Edition, Pearson Education Limited, 2017. – 849 p. – ISBN: 9781292165561