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2012/2013  KAN-CM_SU9F  Advanced Quantitative Modelling for Managerial Decision Making

English Title
Advanced Quantitative Modelling for Managerial Decision Making

Course information
Language English
Exam ECTS 7.5 ECTS
Type Elective
Level Full Degree Master
Duration Summer
Course period Further information on www.cbs.dk/summer
Time Table Please see course schedule at e-Campus
Study board
Study Board for MSc in Economics and Business Administration
Course coordinator
  • Faculty - Rene Leo E. Ordonez, Southern Oregon University
    Stig Hartmann - Department of Accounting and Auditing
Main Category of the Course
  • Management
Last updated on 02-01-2012
Learning objectives
Upon the successful completion of this course, a student should be able to:
  • Demonstrate understanding of the importance of model-building and its application to business-decision making process
  • Show understanding of the advantages and constraints related to designing and building quantitative business models managing
  • Apply the variety of quantitative and technology-based models and tools applicable to various business decision making problems and situations
  • Develop business decision-making models using Excel and be able to apply these tools to specific problem-solving scenarios in a variety of business fields
Prerequisite
Elementary statistics, basic algebra, working knowledge of Excel
Examination
Advanced Quantitative Modelling for Managerial Decision Making
4-hour written exam:
Type of test Written Exam
Marking scale 7-step scale
Second examiner No second examiner
Exam period Summer Term
Aids Open Book, Written Aid is permitted
Duration 4 Hours
Open book and open notes exam: Students can use Microsoft Excel
and/or a financial calculator during the exam subject to the approval
of CBS. The exam will be composed of problems and multiple choice type
of assessment

Course content
Material will be presented by a variety of teaching approaches including lectures, in-class computer-based exercises and demos, homework, and class discussion of assigned problems and readings. When possible a cooperative, student-centered learning approach will be utilized to enable a high level of student involvement.
 
The course’s development of personal competences:
 
By the end of this course some of the following skills and competencies should be further enhanced:
  • Critical and creative thinking, and decision making:  The students will gain the ability to recognize, define, and analyze problems, to generate new and original alternatives for solving problems, and to effectively choose from among those alternatives when making decisions.
  • Technical skills: Ability to solve problems and communicate using appropriate hardware, software, and technology.
  • Model building – students will be able to utilize advanced spreadsheet knowledge acquired in the class to adapt, develop and build quantitative business models used for decision-making process 
 
Topics covered include:
  • Microsoft Excel use, layout, and advanced functionality, including the use of macros and building interactive worksheets, graphs and models
  • Decision-Making Theory
  • Waiting lines
  • Linear programming, Transportation and Assignment Problems
  • Networks/Project scheduling
  • Forecasting Techniques
  • Learning Curves
  • Breakeven Analysis
  • Business Planning Projection Template
  • Statistical Applications in Quality Control
Teaching methods
The course will be a combination of lectures and problem solving both individually and by teams. Lectures will focus on discussing the mechanics of and the quantitative approaches to various quantitative business decision-making tools. Computer software, mainly Excel, will be used in solving problems. Situational and applied cases, where decision-making models and tools can be applied, will be explored in the class. In addition to lectures and cases, students will be expected to read the assigned material and work on assigned model-building cases and problems outside of class.

Excel-based business decision-making models already developed by the instructor will be used as examples in the class. Other class supplements will include digitized lectures (e.g. digitally recorded computer-based lectures and demos. See this link as an example webpages.sou.edu/~ordonez/MBA_514/MBA_514.htm
Expected literature
Operations Management, 10th Edition, W.J. Stevenson, Irwin.McGraw-Hill, 2009.  ISBN 9780073377841 (906 pages)
Last updated on 02-01-2012