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The course is based on the need for methodical knowledge about a number of detailed, mainly quantitative methods and models used with business economic problem solving. It is partly about models making it possible to find optimal solutions to formulated problems, partly about models used to assess the impact of outlined action alternatives. The need for this knowledge and the possibilities to use it, are increased concurrently with the IT development.
The objective of the course is to provide the students with an introduction into modifying, designing and applying models to solve business economics problems.
In the course, little emphasis is placed on the individual solution techniques. Focus is mainly on how problems can be formulated so they can be solved by using the relevant techniques, and what the solutions tell. The individual solutions and models are assessed with regard to sensitivity to altered prerequisites and with regard to lacking fulfillment of one or more of the prerequisites concerning the individual model. Solving the formulated models is typically reached by using IT-tools.
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Lectures supplemented with exercises
Nagraj Balakrishnan, Barry., Render, Ralph M Stair: Managerial Decision Modeling with Spreadsheets and Student CD Package, latest edition.
Supplemental notes
A 4-hour written PC examamination with all aids.
Reexamination: The same as above-mentioned, however, the test (if a maximum of five students attend) may be carried out as an oral exam in the curriculum.
