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Unit of Study

Advanced Management Science
UoS Code QBUS3310
Credit points 6
Offered Semester 1
Prerequisites QBUS2310 or ECMT2620
Prohibitions ECMT3710, ECMT3610
Assumed Knowledge
Additional Information
Lectures 1 x 2hr lecture and 1 x 1hr tutorial per week
Assessment assignment 1 (10%), assignment 2 (10%), mid term exam (30%), final exam (50%)
Description This unit gives guidelines for the formulation of management science models to provide practical assistance for managerial decision making. Optimisation methods are developed, and the complexity and limitations of different types of optimisation model are discussed, so that they can be accounted for in model selection and in the interpretation of results. Linear programming methods are developed and extended to cover variations in the management context to logistics, networks, and strategic planning. Other topics may include decision analysis, stochastic modelling and game theory. The unit covers a variety of case studies incorporating the decision problems faced by managers in business.