DISC 212 – Introduction to Management Science

Summer 2022

Instructor M. Adeel Zaffar

Room No. 403 – SDSB Building
Office Hours TBA
Email adeel.zaffar@lums.edu.pk
Telephone 8026

Course Basics
Credit Hours 3
Session(s) 5 Duration 2 hrs
Tutorials (per week) 1/2 Duration 90 min

COURSE DESCRIPTION
This course is designed to provide students with a sound conceptual understanding of the role that
management science plays in the decision making process. It is an important introductory course in
developing decision models and understanding their application to management problems. The
emphasis is on models and techniques that are widely used in all industries and functional areas,
including operations, finance, accounting, and marketing.

COURSE PREREQUISITES
Pre-Calculus or Calculus 1.

COURSE OUTCOMES
The course has three primary objectives
• Introduce students to the concept of model‐driven decision‐making in business
• Introduce key techniques in three broad categories of decision models typically discussed in the
area of management science: prescriptive, predictive and descriptive models
• Develop student’s ability to critically analyze a business problem, design and apply appropriate
decision‐support tools and interpret the results generated from the tools

COURSE OBJECTIVES & LEARNING OUTCOMES

Upon successful completion of the course, students should be able to
1. Discuss basic modeling techniques across prescriptive and descriptive decision‐models in
the area of management science
2. Implement these techniques as part of a spreadsheet‐based decision‐support tool
3. Setup and solve a range of optimization problems (in different areas of application) by
correctly recognizing constraints, decision variables and objective(s)
4. Setup and solve basic predictive models by correctly identifying the appropriate technique,
understanding its underlying assumptions and interpreting the results
5. Setup and solve descriptive modelling techniques including simulation and basic queuing
models by correctly describing the defining features of the queuing system, including
server(s), customer(s), length of the queue, arrival rate(s) and service rate(s)
6. Effectively communicate their problem‐solving approach, selected tool(s), results,
limitations and implications to support the decision maker.
UNDERGRADUATE PROGRAM LEARNING GOALS & OBJECTIVES
General Learning Goals & Objectives
Goal 1 –Effective Written and Oral Communication
Objective: Students will demonstrate effective writing and oral communication skills
Goal 2 –Ethical Understanding and Reasoning
Objective: Students will demonstrate that they are able to identify and address ethical issues
in an organizational context.
Goal 3 – Analytical Thinking and Problem Solving Skills
Objective: Students will demonstrate that they are able to identify key problems and generate
viable solutions.
Goal 4 – Application of Information Technology
Objective: Students will demonstrate that they are able to use current technologies in business
and management context.
Goal 5 – Teamwork in Diverse and Multicultural Environments
Objective: Students will demonstrate that they are able to work effectively in diverse
environments.
Goal 6 – Understanding Organizational Ecosystems
Objective: Students will demonstrate that they have an understanding of Economic, Political,
Regulatory, Legal, Technological, and Social environment of organizations.

Major Specific Learning Goals & Objectives

Goal 7 (a) – Discipline Specific Knowledge and Understanding
Objective: Students will demonstrate knowledge of key business disciplines and how they
interact including application to real world situations (Including subject knowledge).
Goal 7 (b) – Understanding the “science” behind the decision-making process (for MGS
Majors)
Objective: Students will demonstrate ability to analyze a business problem, design and apply
appropriate decision-support tools, interpret results and make meaningful recommendations to
support the decision-maker

PROGRAM LEARNING COURSE LEARNING COURSE ASSESSMENT ITEM

GOALS AND OBJECTIVES OBJECTIVES
Goal 1 –Effective Written and Objective 6
Oral Communication
Goal 2 –Ethical Understanding
and Reasoning
Goal 3 – Analytical Thinking Objectives 1-6 Quizzes and Exams
and Problem Solving Skills
Goal 4 – Application of Objectives 2-5 Quizzes and Exams
Information Technology
Goal 5 – Teamwork in Diverse
and Multicultural Environments
Goal 6 – Understanding
Organizational Ecosystems
Goal 7 (a) – Discipline Specific Objectives 1,2 and 6 Quizzes and Exams
Knowledge and Understanding
Goal 7 (b) – Understanding the Objectives 1, 2 and 6 Quizzes and Exams
“science” behind the decision-
making process
 GRADING BREAKUP
Grading instruments for the summer-version of this course are different primarily because of the
different format and duration of the classes.

Quizzes: 70%
A major objective of giving these short instruments is to help you keep up with the course
content. These are completely new concepts and require significant time before you can
develop any level of comfortability in explaining and applying them in various contexts.
Therefore, regular practice through quizzes will ensure that you stay in practice throughout
the course.

Given that classes will take place every day, you should expect a quiz at least every other
day (at any time during the class). N-1 will apply and I will drop a few quizzes.

Midterm 15%
The midterm exam will include the material covered in the first half of the semester. If you
keep up with the classes and quizzes, that will be sufficient preparation for the exam.

Final 15%
The final exam will include the material covered in the second half of the course.

Please note that instructor will use Excel to cover most of the basic concepts. It will be your
responsibility to ensure you are able to apply these concepts in a Windows or iOS machine.

Textbook and supplemental material

Spreadsheet Modeling & Decision Analysis by Cliff T. Ragsdale, 5th or later editions
Any supplemental material and/or handouts will be made available via Zambeel

Please note that the instructor reserves the right to modify any aspect of the course, the syllabus
and/or the grading components if he deems it appropriate in view of the progress of the class.
 Planned Lecture Schedule
Pre-class
Lec Date Topics Session Objectives
Readings
• Introduce students to the area
of management science and
the MGS major
• Familiarize students with
Course Introduction different categories of
Syllabus
1 13th June Introduction to modeling techniques and
Chapter 1
Modeling highlight respective
applications, strengths and
weaknesses. Introduce the
idea of Good Decisions vs.
Good Outcomes
• Introduce students to the
concept and essential
characteristics of
mathematical optimization
Introduction to
and illustrate the application
2 14th June Optimization & Linear Chapter 2
of Linear Programming as an
Programming (LP)
example
• Demonstrate the basic
framework for designing and
solving a 2-variable LP
• Demonstrate the use of
spreadsheets to setup and
3 15th June solve a multi-variable LP
• Demonstrate the use of LP in
solving a range of different
Modeling and Solving
problems including: make vs.
LPs in a spreadsheet Chapter 3
buy decisions, investment
problems, transportation
4 16th June problems, blending problems,
production and inventory
planning and multi-period
cash flow
• Introduce the concept of
analyzing a class of business
5 17th June problems as network models
Introduction to • Demonstrate the use of
Network Modeling Chapter 5 network modeling in solving
a range of problems
including, transshipment,
6 20th June
equipment replacement,
transportation and
 generalized network flow
problems
• Provide students with a basic
understanding of the purpose
7 21st June and application of sensitivity
analysis
Sensitivity Analysis • Demonstrate the benefits and
Chapter 4
The Simplex Method limitations of sensitivity
analysis
22nd
8 • Provide a glimpse into the
June
mechanics of the LP solution
discovery process
9 23rd June Revision
10 24th June Midterm
• Introduce the basics of
predictive models
11 27th June • Demonstrate the application
of linear regression models
and discuss the interpretation
Predictive Models:
Chapter 9 of key numbers such as R-
Regression, Logistic
and square, betas and the concept
Regression,
Chapter 10 of statistical significance
Discriminant Analysis
• Demonstrate the application
12 28th June of discriminant analysis for a
range of business problems
and discuss the interpretation
of discriminant scores
• Introduce the basic elements
13 29th June of a queuing model including
Introduction to servers, customers, queue
Chapter 13
Queuing Theory lengths etc.
14 30th June • Demonstrate the application
of basic queuing models
• Introduce the basic concepts
15 1st July of simulation such as random
Introduction to
Chapter 12 variables, risk, sampling etc.
Simulation
16 th
4 July • Demonstrate the application
of simulation
17 5th July • Demonstrate the application
Decision Analysis of basic probabilistic and
Chapter 15
[optional] non-probabilistic decision
18 6th July
analysis techniques
19 7th July Revision
20 8th July Final Exam