Documente Academic
Documente Profesional
Documente Cultură
DISC 212 – Introduction to Management Science
Fall Semester 2016
Instructor Raza Ali Rafique/ Mohsin Nasir Jutt
Room No. 319
Office Hours TBA
Email Raza.ali@lums.edu.pk; mohsin.nasir@lums.edu.pk
Telephone 8476
Secretary/TA Bushra Kanwal, Ext 5311
TA Office Hours TBA
Course URL (if any) http://suraj.lums.edu.pk/~ro/
COURSE BASICS
Credit Hours 3
Lecture(s) No. of Lec(s) Per Week Lecture(s) No. of Lec(s) Per Week Lecture(s)
Recitation/Lab (per week) No. of Lec(s) Per Week Recitation/Lab (per week) No. of Lec(s) Per Week Recitation/Lab (per
week)
Tutorial (per week) No. of Lec(s) Per Week Tutorial (per week) No. of Lec(s) Per Week Tutorial (per week)
COURSE DISTRIBUTION
Core Core
Elective
Open for Student Category
Close for Student Category
COURSE DESCRIPTION
This is a core course for undergraduate business students. It is designed to provide students with a sound conceptual
understanding of the role that management science plays in the decision making process. It is an important introductory course in
developing decision models and understanding their application to management problems. The emphasis is on models and
techniques that are widely used in all industries and functional areas, including operations, finance, accounting, and marketing.
Specific topics covered in this course include: techniques such as linear programming, integer programming, queuing theory and
applications and basic understanding of simulation.
COURSE PREREQUISITE(S)
Calculus I (Math 101)
COURSE LEARNING OBJECTIVES (CLO)
The course has three primary objectives
1. Introduce students to the concept of model‐driven decision‐making in business
2. Introduce key techniques in three broad categories of decision models typically discussed in the area of
management science: descriptive, and prescriptive models
3. Develop student’s ability to critically analyze a business problem, design and apply appropriate decision‐support
tools and interpret the results generated from the tools
Lahore University of Management Sciences
LEARNING OUTCOMES (LO)
Upon successful completion of the course, students should be able to
1. Discuss basic modeling techniques across prescriptive and descriptive decision‐models in the area of management
science
2. Implement these techniques as part of a spreadsheet‐based decision‐support tool
3. Setup and solve a range of optimization problems (in different areas of application) by correctly recognizing
constraints, decision variables and objective(s)
4. Setup and solve basic predictive models by correctly identifying the appropriate technique, understanding its
underlying assumptions and interpreting the results
5. Setup and solve descriptive modelling techniques including simulation and basic queuing models by correctly
describing the defining features of the queuing system, including server(s), customer(s), length of the queue, arrival
rate(s) and service rate(s)
6. Effectively communicate their problem‐solving approach, selected tool(s), results, limitations and implications to
support the decision maker.
UNDERGRADUATE PROGRAM LEARNING GOALS & OBJECTIVES
General Learning Goals & Objectives
Goal 1 –Effective Written and Oral Communication
Objective: Students will demonstrate effective writing and oral communication skills
Goal 2 –Ethical Understanding and Reasoning
Objective: Students will demonstrate that they are able to identify and address ethical issues in an organizational
context.
Goal 3 – Analytical Thinking and Problem Solving Skills
Objective: Students will demonstrate that they are able to identify key problems and generate viable solutions.
Goal 4 – Application of Information Technology
Objective: Students will demonstrate that they are able to use current technologies in business and management
context.
Goal 5 – Teamwork in Diverse and Multicultural Environments
Objective: Students will demonstrate that they are able to work effectively in diverse environments.
Goal 6 – Understanding Organizational Ecosystems
Objective: Students will demonstrate that they have an understanding of Economic, Political, Regulatory, Legal,
Technological, and Social environment of organizations.
Major Specific Learning Goals & Objectives
Goal 7 (a) – Discipline Specific Knowledge and Understanding
Objective: Students will demonstrate knowledge of key business disciplines and how they interact including
application to real world situations (Including subject knowledge).
Goal 7 (b) – Understanding the “science” behind the decision‐making process (for MGS Majors)
Objective: Students will demonstrate ability to analyze a business problem, design and apply appropriate
decision‐support tools, interpret results and make meaningful recommendations to support the decision‐maker
Indicate below how the course learning objectives specifically relate to any program learning goals and objectives.
PROGRAM LEARNING GOALS AND COURSE LEARNING OBJECTIVES COURSE ASSESSMENT ITEM
OBJECTIVES
Goal 1 –Effective Written and Oral Students get a number of opportunities to Only written skills can be assessed in
Communication demonstrate their ability to communicate Quizzes, Mid‐Term and Final
effectively (CLO # 7)
Goal 2 –Ethical Understanding and Students demonstrate an honest Project
Reasoning reporting and use of data (CLO #5)
Lahore University of Management Sciences
Goal 3 – Analytical Thinking and Problem This is an important objective of the Quizzes, Project and Exams
Solving Skills course (CLO # 2‐6)
Goal 4 – Application of Information Students will learn to design and Project
Technology implement decision‐support tools
primarily in Excel/LINGO/GUROBI. (CLO 2)
Goal 5 – Teamwork in Diverse and Students work in groups on the project Project
Multicultural Environments
Goal 6 – Understanding Organizational NA NA
Ecosystems
Goal 7 (a) – Discipline Specific Knowledge Comprehensive coverage of topics in Quizzes, Project and Exams
and Understanding elementary management science (CLO #
1‐5 & LO # 1‐9)
Goal 7 (b) – Understanding the “science” Students apply appropriate methods to Quizzes, Project and Exams
behind the decision‐making process answer data based decision problems
(CLO # 1‐5)
GRADING BREAKUP AND POLICY
Quizzes (unannounced): 10% (No make‐up quiz)
Project: 15% (To be completed in groups – number of students in a group: TBA)
Midterm Examination: 30%
Final Examination: 30%
Attendance/CP: 15%
**Note: Attendance will be taken in every class and you are strongly encouraged to attend all classes. Please make sure you arrive
ahead of time. The lecture/lab will start at the appointed time. Please do not enter the class/lab if you are late. Your attendance
will not be marked if you are late in the class. While the class/lab is in session, please turn your mobile devices off. Please do not
use the lab time to browse the web or check emails etc. CP will be marked based on your attendance and class work submission
(codes/excel files/short questions etc.).
EXAMINATION DETAIL
Yes/No: Yes
Combine/Separate: Combine
Midterm Duration: 100 minutes
Exam Preferred Date: TBD
Exam Specifications: Closed book, closed notes, calculators allowed
Yes/No: Yes
Combine/Separate: Combine
Final Exam Duration: 100 minutes
Exam Specifications: Closed book, closed notes, calculators allowed
COURSE OVERVIEW
RECOMMENDED
LECTURE TOPICS OBJECTIVES
READINGS
Introduction Syllabus Course introduction
Introduce students to the area of
1
management science and the MGS
major. (CLO 1)
Lahore University of Management Sciences
Introduction to Modeling Chapter 1 Familiarize students with different
2
categories of modeling techniques and
highlight respective applications,
strengths and weaknesses. Introduce the
idea of Good Decisions vs. Good
Outcomes (CLO 1)
Introduction to Optimization & Linear Chapter 2 Introduce students to the concept and
Programming (LP) essential characteristics of mathematical
3 optimization and illustrate the
application of Linear Programming as an
example (CLO 3)
Solving Linear Programming problems Chapter 2 Introduce the basic framework for
4 designing and solving a 2‐variable LP
(CLO 2, 3)
Introduce the use of spreadsheets to
setup and solve a multi‐variable LP (CLO
2, 3)
Use of LINGO/Gurobi Software
5‐7 Modeling and Solving LPs in a spreadsheet Chapter 3
Introduce the use of LP in solving a range
of different problems including: make vs.
buy decisions, investment problems and
transportation problems, blending
problems, production and inventory
planning and multi‐period cash flow (CLO
2, 3, 7)
Provide students with a basic
8‐9 Sensitivity Analysis Chapter 4 understanding of the purpose and
application of sensitivity analysis (CLO 2,
3)
Discuss the benefits and limitations of
sensitivity analysis (CLO 2, 3, 7)
Simplex Method Chapter 4 Provide a glimpse into the mechanics of
10 the LP solution discovery process (CLO 2,
3)
Introduction to Network Modeling Chapter 5 Introduce the concept of analyzing a
class of business problems as network
models (CLO 2, 3)
Introduce the use of network modeling in
11 ‐ 13
solving a range of problems including,
transshipment, equipment replacement,
transportation and generalized network
flow
(CLO 2, 3, 7)
MID‐TERM
14
Lahore University of Management Sciences
Introduce the use of ILP in solving a
range of different problems including:
make vs. buy decisions, investment
15 ‐ 16 Integer Linear Programming (ILP) Chapter 6 problems and transportation problems,
blending problems, production and
inventory planning and multi‐period cash
flow (CLO 2, 3, 7)
Introduce the basic elements of a
Introduction to Queuing Theory Chapter 13 queuing model including servers,
17‐18
customers, queue lengths etc. (CLO 2, 5)
Introduce the basic concepts of
simulation such as random variables, risk,
sampling etc. (CLO 2, 5)
Introduction to Simulation Chapter 12
19‐21
Demonstrate the application of
simulation (CLO 2, 5,7)
22‐23 Case Studies/Practical Problems (IP/ILP)
Chapter 09 Demonstrate the application of linear
regression models and discuss the
interpretation of key numbers such as R‐
24‐25 Regression Analysis
square, betas and the concept of
statistical significance
Chapter 15 Introduce decision analysis techniques
and revisit the idea of Good Decisions vs.
25‐26 Decision Analysis
Good Outcomes
27‐28 Project Presentations/Review
TEXTBOOK(S)/SUPPLEMENTARY READINGS
Required Texts:
Spreadsheet Modeling & Decision Analysis: A Practical Introduction to Management Science 5th Edition by Cliff Ragsdale
Supplementary:
Operations Research: Applications and Algorithms 4th Edition by Wayne L. Winston
Software Resources
LINGO ‐ Optimization Modeling Software for Linear, Nonlinear, and Integer Programming
Gurobi Optimization
Python (https://www.python.org/)