BUS336 Optimization Methods in Business Analytics
Credits (ECTS):5
Course responsible:Marie Gotteberg Steen
Campus / Online:Taught campus Ås
Teaching language:Norsk
Course frequency:Annually
Nominal workload: Nominal workload: 125 hours. Exercises: Appox. 18 hours + own work through problem solving and self-study
Teaching and exam period:This course starts in Spring parallel. This course has teaching/evaluation in Spring parallel.
About this course
Management Science is an approach to management decision-making that makes extensive use of quantitative methods. This course aims to introduce students to the application of quantitative techniques to problems where models capture problem structure and use it to help optimise the decision outcome. The most central methods are linear programming including graphical representations, sensitivity analysis, different classes of network models, integer/binary programming, non-linear programming and goal programming. A combination of computer sessions and example classes demonstrate how advances in computing power have made these techniques more accessible to managers and how the techniques can be applied to a range of different situations. These broad aims map to a number of explicit learning outcomes presented below.
Learning outcome
Knowledge
On completion of the course students should be able to:
- discuss the practical use of the techniques covered
- use the modelling techniques covered to help structure management problems
- solve models built using the techniques covered
- demonstrate that they can identify which of the techniques covered is most suitable for a management problem
- demonstrate that they can interpret the results of their analysis of a management problem
Skills
On completion of the course students should:
- be able to demonstrate that they can build and analyse a model of a management problem
- be able to demonstrate their ability to apply their computer skills to support the analysis of a management problem
- have developed their quantitative and modelling skills.
- Lectures (2 hours/week) with integrated use of IT, especially use of spreadsheets, to analyse different models interactively in class. Computer lab exercises (2 hours /week)in smaller groups.
- The main lecturer is available through e-mail and phone, and for office visits by appointment, throughout the whole semester. The teaching assistants are also available for guidance.
- Introductory courses in mathematics, statistics and microeconomics (ECN102/MATH100, STAT100, ECN110).
- BUS133 (Introductory course in Excel).
Final written examination (3,5 hours) counts 100%.
B1: Calculator handed out, no other aids
- External examiner will control the quality of syllabus, questions for the final examination, and principles for the assessment of the examination answers.
- Compulsory elements, minimum 7 out of 9 assignments (or 78%) have to be approved. Compulsory activities are valid until and including the next time the course is offered.
BUS336 has common lectures, and exercises (most of them) with BUS230 :
2 hours of lectures every week, 3 exercise groups, each 2 hours per week
- The course is overlapping 5 credits with BUS230.
- The course is for master students who satisfy the required prerequisites.