AMS2001 - Quantitative Methods for Business Management
Year of Study: | 2 - 4 |
Credit Units: | 3 |
Duration: | 45hours |
Prerequisites: | Nil |
Module Description
This module aims to introduce to students the fundamental topics in operations research and
develop students’ ability to solve a business problem using a mathematical model. Students
can acquire the basic theories and techniques of linear programming, network optimization
models and inventory models. Students are enabled to choose the appropriate techniques to
suit a particular problem and appreciate the use of mathematical, computational and statistical
techniques in solving real-world problems. Applications to business management are provided.
develop students’ ability to solve a business problem using a mathematical model. Students
can acquire the basic theories and techniques of linear programming, network optimization
models and inventory models. Students are enabled to choose the appropriate techniques to
suit a particular problem and appreciate the use of mathematical, computational and statistical
techniques in solving real-world problems. Applications to business management are provided.
Learning Outcomes
Upon completion of this module, students should be able to:
- understand the basic concepts, theories and impact of operations research and their importance to the business community;
- solve a real life business problem using a mathematical model;
- adopt quantitative methodologies with/without the use of computer software to find the optimal solution of decision making problem; and
- interpret the solution and convey the analytical results of business problems accurately.