MSBA 640

Decision Models

This course trains students to turn real-world problems into mathematical and spreadsheet models and to use such models to make better managerial decisions. This is a hands-on course that focuses on modeling business problems, turning them into spreadsheet models and using tools like Solver to obtain solutions to these managerial problems. The course focuses on two classes of models, optimization and simulation. The application areas are diverse and they originate from problems in finance, marketing and operations. We cover problems such as how to optimize a supply chain and how to price products when faced with demand uncertainty. Topics covered include linear and linear integer programming, nonlinear programming and evolutionary solver, simulation and optimization, multi-period linear programming and Monte Carlo simulation

Units: 3.0