Skip to main content

Unit information: Advanced Management Science in 2021/22

Unit name Advanced Management Science
Unit code EFIM30013
Credit points 20
Level of study H/6
Teaching block(s) Teaching Block 1 (weeks 1 - 12)
Unit director Mr. Kremantzis
Open unit status Not open
Pre-requisites

Management Science (EFIM20005)

Co-requisites

None

School/department School of Management
Faculty Faculty of Social Sciences and Law

Description

The unit will further develop the discrete event simulation methodology introduced in Management Science in the second year. Additionally concepts of systems thinking and system dynamics simulation for policy analysis will be covered. The distinction between the discrete event and system dynamics methodologies will be explained and illustrated. One or both of these methodologies will underpin the summative computer-based project. A number of other techniques will be introduced including certain multi-criteria decision making techniques; decision analysis techniques involving Bayesian methods; and more advanced mathematical programming techniques such as Data Envelopment Analysis. Taken together with Management Science in year 2, the two units embrace a comprehensive and sought after skillset. The successful student’s CV will offer much of what is in demand by employers as this is commonly an area of skill shortages. Alternatively, students will possess an excellent grounding should they decide to pursue MS/OR in a taught post-graduate degree.

Intended learning outcomes

On completion of this module, students should be able to:

  1. Understand the nature of Management Science methodologies for dealing with complexity in systems.
  2. Understand the differences between discrete event and system dynamics simulation methods and when each can be usefully adopted.
  3. Understand the utility of multi-criteria decision systems.
  4. Possess a wide exposure to the full range of Management Science techniques employed in real-world situations. Their knowledge will enhance their CVs.

Teaching details

Teaching will be delivered through a combination of synchronous and asynchronous sessions including lectures, tutorials, drop-in sessions, discussion boards and other online learning opportunities.

Assessment Details

Summative Assessment:

  • 2 x 60-minute online tests (2 x 20%)
  • 1500 word report on application of Management Science simulation modelling to real-world case study. (60%)

These assessments will assess all of the intended learning outcomes.

Resources

If this unit has a Resource List, you will normally find a link to it in the Blackboard area for the unit. Sometimes there will be a separate link for each weekly topic.

If you are unable to access a list through Blackboard, you can also find it via the Resource Lists homepage. Search for the list by the unit name or code (e.g. EFIM30013).

Feedback