Management Science

Management Science is about modeling, solving and analyzing planning and decision problems using mathematial concepts. Management Science is used across different industries, departments and organizations. The lecture will treat the Management Science approach to decision making in general and the following topics in particular: Linear Programming, Mixed-Integer Programming, Graph Theory, Netwerk Flow, Dynamic Programming and Decision Theory.

After successful completion of the module students are capable of modelling planning problems. They are able to solve small business problems manually by using models and methods of linear and horizontal programming, of graph theory, of network flow, of dynamic programming, and of decision theory.

Knowledge of Mathematics and Statistics at the level as definend in the German Abitur

The module consists of a lecture and exercise courses, which are provided weekly, as well as a voluntary tutorial offered biweekly. In the lecture the content is jointly developed with the students mainly by using slides. The exercise course repeats parts of the lecture contents by using examples. The tutorials are delivered by student teaching assistants for groups of up to 20 students which gives the student the opportunity to pose questions and receive immediately help from the teaching assistant.

This module is also offered at TUM Campus Straubing.

Script, Presentation slides

Bradley, S.P., A.C. Hax und T.L. Magnanti: Applied Mathematical Programming, Addison-Wesley, 1977. Domschke W and A. Drexl: Einführung in Operations Research, 9th Ed., Springer, 2015.
Hillier FS and Lieberman GJ: Introduction to Operations Research, 9th ed., McGraw-Hill, 2010. Winston WL: Operations Research, 5th Ed., Thomson, 2004.
Hillier FS and Lieberman GJ: Introduction to Operations Research, 9th ed., McGraw-Hill, 2010. Winston WL: Operations Research, 5th Ed., Thomson, 2004.

Students mastery of the content taught in this module is checked with a 60 minutes written exam. Students are only allowed to use a non-programmable calculator. In the exam students have to answer questions, apply algorithms to solve problems, create mathematical models for small example problems, and discuss presented results. By this the students have to demonstrate that they have understood and can apply the mathematical models and methods to solve business planning problems. The overall grade of the module is based on the result obtained in the written exam.