Course Overview
The course is designed for students who want to get acquainted with quantitative tools suitable for supporting decision-making occurring in business, economics, and finance. The main goal of the course is to show how to model real decision-making problems and to present methods of their solving. The secondary goal is to familiarize students with the use of MS Excel and its add-in Solver for solving optimization problems. Participants will be introduced to common application areas of Operations Research/ Management Science (OR-MS) and necessary solution procedures (simplex method, MODI, Hungarian method, CPM, and others). The course is ended by a team project. Team members should use skills gained in the course to build mathematical models for given case studies and employ the procedures mentioned above to solve arising decision problems.
Learning Outcomes
After completing the course, students will be able to:
Course Content
Instructional Method
The classes include both theoretical training and problem-solving sessions. Students will discuss the solutions of case studies. Advanced problems will be solved in the form of team projects.
Required Course Materials
Students will be provided with all course materials including training problems for the seminars (assignments, data, spreadsheets), lecture slides, and other documents providing theoretical background. Technical equipment requirements: computers with MS Excel.
Assessment