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DISC 212 – Introduction to Management Science
Fall Semester 2016
Instructor Raza Ali Rafique/Mohsin Nasir Jutt
Room No. TBA
Office Hours TBA
Email raza.ali@lums.edu.pk ; mohsin.nasir@lums.edu.pk
Telephone TBA
TAs & Office Hours TBA
Course URL (if any) suraj.lums.edu.pk/~ro/
COURSE BASICS
Credit Hours 3
Lecture(s)/Lab(s) Nbr of Lec(s) Per Week 2 Duration 75
Tutorial (per week) Nbr of Lec(s) Per Week TBA Duration
COURSE DISTRIBUTION
Core Yes
Elective
Open for Student Category SDSB (Sophomores & Juniors), Open for All in phase II
Close for Student Category
COURSE DESCRIPTION
This is a core course for undergraduate business students. It is designed to provide students with a sound conceptual
understanding of the role that management science plays in the decision making process. It is an important introductory course in
developing decision models and understanding their application to management problems. The emphasis is on models and
techniques that are widely used in all industries and functional areas, including operations, finance, accounting, and marketing.
Specific topics covered in this course include: techniques such as linear programming, discriminant analysis, queuing theory and
applications, Monte Carlo simulations, decision making under uncertainty, decision trees and multi‐criteria decision‐making.
COURSE PREREQUISITE(S)
MATH 100 Pre‐Calculus OR
MATH 101 Calculus I
COURSE OBJECTIVE(S)
The course has three primary objectives
1. Introduce students to the concept of model‐driven decision‐making in business
2. Introduce key techniques in three broad categories of decision‐models typically discussed in the area of
management science: descriptive, prescriptive and predictive models
3. Develop student’s ability to critically analyze a business problem, design and apply appropriate decision‐support
tools and interpret the results generated from the tools
Lahore University of Management Sciences
COURSE LEARNING OUTCOMES
Upon successful completion of the course, students should be to
1. Discuss basic modeling techniques across prescriptive, descriptive and predictive decision‐models in the area of
management science
2. Implement these techniques as part of a spreadsheet‐based decision‐support tool
3. Setup and solve a range of optimization problems (in different areas of application) by correctly recognizing
constraints, decision variables and objective(s)
4. Setup and solve basic predictive models by correctly identifying the appropriate technique, understanding its
underlying assumptions and interpreting the results
5. Setup and solve descriptive modeling techniques including simulation and basic queuing models by correctly
describing the defining features of the queuing system, including server(s), customer(s), length of the queue, arrival
rate(s) and service rate(s)
6. Setup and solve single‐ and multi‐criteria problems using basic decision analysis techniques such as influence
diagrams, payoff matrices and decision trees
7. Effectively communicate their problem‐solving approach, selected tool(s), results, limitations and implications to
support the decision maker
UNDERGRADUATE PROGRAM LEARNING GOALS & OBJECTIVES
General Learning Goals & Objectives
Goal 1 –Effective Written and Oral Communication
Objective: Students will demonstrate effective writing and oral communication skills
Goal 2 –Ethical Understanding and Reasoning
Objective: Students will demonstrate that they are able to identify and address ethical issues in an organizational
context.
Goal 3 – Analytical Thinking and Problem Solving Skills
Objective: Students will demonstrate that they are able to identify key problems and generate viable solutions.
Goal 4 – Application of Information Technology
Objective: Students will demonstrate that they are able to use current technologies in business and management
context.
Goal 5 – Teamwork in Diverse and Multicultural Environments
Objective: Students will demonstrate that they are able to work effectively in diverse environments.
Goal 6 – Understanding Organizational Ecosystems
Objective: Students will demonstrate that they have an understanding of Economic, Political, Regulatory, Legal,
Technological, and Social environment of organizations.
Major Specific Learning Goals & Objectives
Goal 7 (a) – Discipline Specific Knowledge and Understanding
Objective: Students will demonstrate knowledge of key business disciplines and how they interact including
application to real world situations. (including subject knowledge)
Goal 7 (b) – Understanding the “science” behind the decision‐making process (for MGS Majors)
Objective: Students will demonstrate ability to analyze a business problem, design and apply appropriate
decision‐support tools, interpret results and make meaningful recommendations to support the decision‐maker
Lahore University of Management Sciences
Indicate below how the course learning objectives specifically relate to any program learning goals and objectives.
PROGRAM LEARNING GOALS AND COURSE LEARNING OBJECTIVES COURSE ASSESSMENT ITEM
OBJECTIVES
Goal 1 –Effective Written and Oral Students get a number of opportunities to Only written skills* can be assessed in
Communication learn and demonstrate these skills Quizzes, Mid‐Term and Final
throughout the course CLO 7
Goal 2 –Ethical Understanding and
Reasoning
Goal 3 – Analytical Thinking and Problem Students get a number of opportunities to Quizzes, Mid‐Term and Final Exam
Solving Skills learn and demonstrate these skills
throughout the course CLO 2‐6
Goal 4 – Application of Information Students will learn to design and Quizzes, Mid‐Term and Final Exam
Technology implement decision‐support tools
primarily in Excel CLO 2
Goal 5 – Teamwork in Diverse and
Multicultural Environments
Goal 6 – Understanding Organizational
Ecosystems
Goal 7 (a) – Discipline Specific Knowledge
and Understanding (Subject Knowledge)
Goal 7 (b) – Understanding the “science” Students get a number of opportunities to Quizzes, Mid‐Term and Final Exam
behind the decision‐making process learn and demonstrate these skills
throughout the course CLO 1‐6
GRADING BREAKUP AND POLICIES
Quiz(s): 20%
Quizzes will be given in class/lab. Make‐up quizzes will not be given. The nature and level of difficulty of quizzes across the
various sections may vary. In view of the class performance, the instructor may decide to give additional (surprise) quizzes.
The N‐1 policy will apply.
Mid‐Term: 30%
Mid‐term exam may be given in the lab or in class. The date has been indicated in the schedule. Make‐up exam will not be
given.
Final Examination: 30%
Final exam will also be given in lab or in class during regular exam week
Project: 15%
The group project will have to be drawn from a real life situation. A 1‐2 page project proposal must be submitted by
September 30th 2015. Excel files and accompanying analysis must be emailed by Friday, November 30th, 2015 (11:55pm).
Presentations will be scheduled on the ensuing Weekend. Grade on the project will be awarded on the basis of your presentation
and accompanying analysis.
Attendance: 5%
Attendance will be taken in every class and you are strongly encouraged to attend all classes. Past performance of students
in the course has shown that students with low attendance received a poor grade in the course.
Class/Lab:
Please make sure you arrive ahead of time. The lecture/lab will start at the appointed time. Please do not enter the
class/lab if you are late. While the class/lab is in session, please turn your mobile devices off. Lab sessions will be conducted
as and when deemed necessary by the instructor. Please do not use the lab time to browse the web or check emails etc.
Lahore University of Management Sciences
COURSE SCHEDULE *
RECOMMENDED
DATE LECTURE TOPICS SESSION OBJECTIVES
READINGS
Introduce students to the area of management
1 Course Introduction Syllabus
science and the MGS major. (CLO 1)
Familiarize students with different categories of
modeling techniques and highlight respective
2 Introduction to Modeling Chapter 1 applications, strengths and weaknesses. Introduce
the idea of Good Decisions vs. Good Outcomes (CLO
1)
Introduce students to the concept and essential
Introduction to Optimization & characteristics of mathematical optimization and
3 Chapter 2
Linear Programming (LP) illustrate the application of Linear Programming as
an example (CLO 3)
Solving Linear Programming Introduce the basic framework for designing and
4 Chapter 2
problems solving a 2‐variable LP (CLO 2, 3)
Modeling and Solving LPs in a
Introduce the use of spreadsheets to setup and
5 spreadsheet Chapter 3
solve a multi‐variable LP (CLO 2, 3)
Modeling and Solving LPs in a Introduce the use of LP in solving a range of
6 Chapter 3
spreadsheet different problems including: make vs. buy
decisions, investment problems, transportation
Modeling and Solving LPs in a problems, blending problems, production and
7 Chapter 3
spreadsheet inventory planning and multi‐period cash flow (CLO
2, 3, 7)
Provide students with a basic understanding of the
8 Sensitivity Analysis Chapter 4 purpose and application of sensitivity analysis (CLO
2, 3)
Discuss the benefits and limitations of sensitivity
9 Sensitivity Analysis Chapter 4
analysis (CLO 2, 3, 7)
DROP ONLY DEADLINE Friday, 27th February 2015
Provide a glimpse into the mechanics of the LP
10 The Simplex Method Chapter 4
solution discovery process (CLO 2, 3)