Lectures on discipline “Managerial decision modeling” for the students of the speciality 6.030601 “Management” (full-time study bachelors).

Abstract

Managerial decision modeling provides a spreadsheet-based, example-driven approach to management science. Throughout the lectures, students will find many new models that are based upon real managerial problems, and a student will find a much clearer presentation of the modeling, solution, and interpretation of the examples. This course integrates modeling into all functional areas of business. The purpose of this course is to expose student to a variety of problems that have been solved successfully with management science methods and to give the student experience in modeling these problems in the Excel spreadsheet package. The main tasks of the course are: - to acquaint the students with the steps in decision modeling and types of decision models; - to provide an introduction to the underlying components of managerial decision modeling, such input data, decision variable and problem parameter; - to establish a sense of the managerial decision making process, decision making under risk and uncertainty, and decision tree approach; - to acquaint the students with decision modeling based on time series, time series components and time series analysis; - to establish a sense of the decision modeling with econometric modeling, and decision making with linear and non-linear econometric model; - to provide students with understanding of inventory decisions modeling in supply chain and decision modeling with queuing models; - to acquaint the students with decisions modeling with simulation models.