Postgraduate Course: Problem Solving and Spreadsheet Modelling Skills (CMSE11117)
Course Outline
| School | Business School |
College | College of Humanities and Social Science |
| Credit level (Normal year taken) | SCQF Level 11 (Postgraduate) |
Availability | Available to all students |
| SCQF Credits | 15 |
ECTS Credits | 7.5 |
| Summary | This course aims to equip students with a range of tools and frameworks for decision making and solving problems to common business and marketing problems. Students will be introduced to the basics of constructing decision support models, the basics of linear programming and simulation modelling, and decision-making under uncertainty using case studies and real life examples. The course further develops students' modelling skills using Microsoft Excel and through the application of the techniques to a range of practical problems.
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| Course description |
This course builds on students' knowledge gained in the core courses of the MSc Marketing and Business Analysis programme, therefore complementing the other courses and minimising overlap of materials.
Teaching will involve a combination of lectures, tutorials and independent study. The key issues and techniques will be presented in lectures. Tutorial examples will re-enforce learning through practical experience as well as offering the opportunity to obtain immediate feedback from the lecturer should any problems arise. Furthermore, tutorials will also offer the opportunity to develop technical modelling skills. Students will also be expected to engage in self study; both to consolidate the learning of core work and to familiarise themselves with the broader literature.
Syllabus:
Problem solving and modelling in business using spreadsheets;
Building and solving linear programming models in a spreadsheet;
Application of linear programming in business analysis;
Integer decision variables used to model logical conditions, fixed costs and other features, and their application in business analysis;
Discrete event simulation and the Rockwell Arena simulation package;
Experimenting with discrete event simulation models to inform business decision making;
The use of decision tables and decision trees in business modelling;
Multi-objective decision making approach;
Computer lab on the application of goal programming in business analysis;
The analytic hierarchy approach to analysing multi-objective decision problems;
Application of analytic hierarchy process in business analysis.
Student Learning Experience
Students will
* participate in lectures where they will be introduced to the principles and techniques involved in problem solving and spreadsheet analysis;
* engage in discussion inside and outside of the classroom;
* complete tutorial exercises which will reinforce the ideas discussed in lectures;
* construct a model of a business problem and produce an executive report;
* perform independent reading and research:
* critically reflect on their own learning experiences
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Entry Requirements (not applicable to Visiting Students)
| Pre-requisites |
Students MUST have passed:
Marketing Decision Analysis (CMSE11120)
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Co-requisites | |
| Prohibited Combinations | |
Other requirements | For Business School PG students only, or by special permission of the School. Please contact the course secretary. |
Information for Visiting Students
| Pre-requisites | None |
| High Demand Course? |
Yes |
Course Delivery Information
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| Academic year 2015/16, Available to all students (SV1)
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Quota: None |
| Course Start |
Semester 2 |
Timetable |
Timetable |
| Learning and Teaching activities (Further Info) |
Total Hours:
150
(
Lecture Hours 20,
Supervised Practical/Workshop/Studio Hours 24,
Summative Assessment Hours 2,
Programme Level Learning and Teaching Hours 3,
Directed Learning and Independent Learning Hours
101 )
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| Assessment (Further Info) |
Written Exam
70 %,
Coursework
30 %,
Practical Exam
0 %
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| Additional Information (Assessment) |
Assessment of this course is through an exam (weighted 70%) and assignment (problem formulation and solution, weighted 30%). |
| Feedback |
Feedback on formative assessed work will be provided within 15 working days of submission, or in time to be of use in subsequent assessments within the course, whichever is sooner. Summative marks will be returned on a published timetable, which has been made clear to students at the start of the academic year.
Students will gain feedback on their understanding of the material when they discuss their answers to the tutorial questions in the tutorials. Students may also ask questions in Lectures to assess their knowledge.
The feedback consists of continuous feedback on practical work, coursework feedback and exam feedback.
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| Exam Information |
| Exam Diet |
Paper Name |
Hours & Minutes |
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| Main Exam Diet S2 (April/May) | Problem Solving and Spreadsheet Modelling Skills | 2:00 | |
Learning Outcomes
On completion of this course, the student will be able to:
- Overarching Learning Outcomes: Understand and critically discuss the nature of problem solving and decision making in business and marketing management;
- Understand and critically assess various methods for structuring management decision problems;
- Understand and apply the techniques of linear programming, simulation and decision analysis for modelling decision problems;
- Understand and critically assess the relative merits of linear programming, simulation and decision analysis.
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Reading List
Recommended texts:
¿ Albright, S.C. and Winston, W.L. (2011) Management Science Modeling (4th edition) South-Western Cengage (International Edition)
¿ Ragsdale, C.T. (2011) Managerial Decision Modeling (6th edition). South-Western Cengage Learning (International Edition)
¿ Law, A.M. (2014) Simulation Modeling and Analysis (5th edition) McGraw-Hill
¿ Kelton, W.D., Sadowski, R.P. and Zupick, N.B. (2014) Simulation with Arena (6th edition) McGraw-Hill
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Additional Information
| Graduate Attributes and Skills |
Cognitive Skills:
Students will develop skills such as:
* the ability to build models to assist management decision making;
* the ability to critically assess models for management decision making;
* the ability to interpret decision-making models in light of possible courses of action for a given business/marketing problem or situation;
* the ability to understand methods of model solution.
Subject Specific Skills:
Students will gain:
* an appreciation of methods involved in business modelling;
* experience in applying model building methods to realistic examples;
* experience in using commercial software to tackle management decision problems.
By the end of the course students will be expected to:
* be able to plan and carry out analyses based on construction and solution of appropriate models;
* be able to employ analytical and problem-solving skills;
* show that they can report results in a concise way;
* have enhanced their skills in using commercial software products.
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| Keywords | PSSMS |
Contacts
| Course organiser | Dr Tom Archibald
Tel: (0131 6)50 4604
Email: |
Course secretary | Miss Ashley Harper
Tel: (0131 6)51 5671
Email: |
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