Professor Takahiro Akita
Graduate School of International Relations
International University of Japan
Table of Contents
Last Updated: September 2003
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This course is designed to provide students with a working knowledge of quantitative techniques for economic and management decision-makings. Stress is placed on economic and managerial problem formulation and the interpretations of the problem solution results. Solution procedures will be discussed also to facilitate the interpretations, but not in a rigorous manner, so that no advanced mathematics are required.
The course aims, in particular, to enhance the students' problem solving capacity in economic and management decision problems with the aid of management science techniques. For that purpose, a number of (small and large) cases will be presented and discussed in the class. Cases provide descriptions of practical situations where modeling and analysis can play an important role. Some of the cases are abbreviated descriptions, where much of the detail is left to the reader's imagination. Cases provide opportunities to practice translating situations into problem structures and, in doing so, to adapt the general concepts of modeling to particular circumstances. Discussion questions for each case are attached as part of this course description.
Topics covered in the course include decision analysis, linear programming (LP), LP network models (transportation and transshipment models), integer programming, and network models for project scheduling (PERT/CPM). Excel and LINDO running on Windows98 is used to solve linear, integer, and network models (You can download a free trial version of LINDO from the following LINDO homepage: http://www.lindo.com/.)
In sum, the objectives of this course are the following:
1. Introduce you to the basic principles and techniques of management science. You will learn to use some of the important analytic methods, to recognize their assumptions and limitations, and to employ them in decision-making.
2. Enhance your ability to structure problems and to perform logical analyses. You will practice translating descriptions of decision problems into formal models, and will analyze those models in an organized fashion.
3. Expose you to settings in which models can be used effectively. You will apply management science concepts in practical situations.
4. Reinforce your computer skills. You will exploit the computer as a resource in your analysis, and you will confront the special character of the computer as a decision-support tool.
All the students are responsible for the lecture material and the required readings. Regular assignments (readings, cases, and exercises) are scheduled for each class session. It is important to complete the assigned readings prior to each class session. Weekly homework sets will be assigned. The exercises are due to be submitted on assigned due-dates, and no late homework will be counted. Homeworks should be done in group (group size is 2 to 3). Groups will be made in the first or second class session. Each group should hand in one set with all names on it. Each student is responsible for all the material covered on the homework. The purpose of this arrangement is to facilitate learning from classmates. Remember that it is considered a violation of the Honor Code to utilize information from last year in doing the homework assignments. Homework exercises provide opportunities to practice the skills of modeling and analysis that are introduced in the course. Homework emphasizes quantitative aspects of the course material and provides feedback on how well the analytic techniques have been mastered. The instructor's philosophy with regard to this course is that learning by doing is the best way to learn the concepts and techniques of management science and managerial model building. There will be midterm and final examinations.
The general policies of the Graduate School of International Relations apply. This means that all students are expected to attend class regularly. Personal illness or family emergency, but not placement activities, are considered grounds for excused absences. Penalties for unexcused absences will be reflected in the class participation component of the course grade.
In determining your course grade, your work will be evaluated approximately in accordance with the following weights:
In-class examination is an open note exam.
My regular office hours will be as follows:
You may come to my office anytime other than these time periods, but it should be done by prior appointment.
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