Enrolment options

Please note! Course description is confirmed for two academic years, which means that in general, e.g. Learning outcomes, assessment methods and key content stays unchanged. However, via course syllabus, it is possible to specify or change the course execution in each realization of the course, such as how the contact sessions are organized, assessment methods weighted or materials used.

LEARNING OUTCOMES

Management Science uses analytical models to help make better business decisions. This course focuses on models for supporting decision making under uncertainty, risk and multiple objectives. After taking the course the student can (i) recognise the types of real-life business problems where the use of models adds value, (ii) interpret results of these models to derive defensible decision recommendations, and (iii) build and solve these models computationally, using spreadsheet models and programming scripts, to support business decision making.

Credits: 6

Schedule: 08.01.2025 - 17.02.2025

Teacher in charge (valid for whole curriculum period):

Teacher in charge (applies in this implementation): Ilkka Leppänen

Contact information for the course (applies in this implementation):

CEFR level (valid for whole curriculum period):

Language of instruction and studies (applies in this implementation):

Teaching language: English. Languages of study attainment: English

CONTENT, ASSESSMENT AND WORKLOAD

Content
  • valid for whole curriculum period:

    Simulation, decision trees, value of information, expected utility theory, risk attitudes, stochastic dominance, risk measures, multi-attribute utility theory, modelling uncertainty and multiple objectives in optimisation problems.

Assessment Methods and Criteria
  • valid for whole curriculum period:

    Coursework and exam

Workload
  • valid for whole curriculum period:

    Contact teaching, individual coursework, exam

DETAILS

Study Material
  • valid for whole curriculum period:

    Lecture slides, articles and web resources, assignments, computer implementations of mathematical models, textbook (An Introduction to Management Science by Anderson et al., 2022 or older editions).

Substitutes for Courses
Prerequisites

FURTHER INFORMATION

Further Information
  • valid for whole curriculum period:

    Teaching Language: English

    Teaching Period: 2024-2025 Spring III
    2025-2026 Spring III

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