DSME4020AB Decision Modeling and Analytics

( First Term, 2018-2019 )

Course Overview
This course introduces the concepts and methods of decision making and analysis, which
involves the
application of mathematical modeling and analysis to solve business problems. Models are
simplified
representations of real situations and can be invaluable tools for decision making processes.
Students
will learn the basic elements of modeling, i.e., how to formulate a model and how to interpret
and
utilize the information a model produces. The emphasis is put on models that are widely used
in
diverse application areas, including finance, operations, and marketing. Specific applications
include
production planning, revenue management, sales force planning, risk management, portfolio
optimization, among others. Using spreadsheets and other tools to implement, solve, and
analyze the
models we develop will be illustrated in class.
Reference Textbook
Stephen G. Powell, Kenneth R. Baker, Management Science: The Art of Modeling with
Spreadsheets, 4th edition, Wiley.
Meeting Times and Locations
Section A: Wednesdays 2:30 pm – 5:15 pm @ Esther Lee Building (ELB) 308
Section B: Tuesdays 4:30 pm – 7:15 pm @ Lady Shaw Building (LSB) C2
NOTE: There are some exceptions to the lecture locations. Refer to ‘Course at a glance’ at the
end.
Grading Policy
Homework Assignments 15 %
Midterm Exam 35 %
Final Exam 50 %
Total 100 %
2
Examinations
Both the midterm and final exams are designed to test how well you understand and grasp the
essence
of the modeling techniques covered in this course, including building, analysing, and solving
a model,
and finally interpreting the insights generated.
The midterm exam is 2 hour long and scheduled on Friday, Oct. 26. It is in closed-note
closed-book
format and will be comprised of multiple choices, short answer questions, and numerical
problems
where you need to show details of your computation and reasoning. The final exam is
scheduled on
Tuesday, Dec. 4 and is in the same format as the midterm. It will cover all the topics taught in
this
course. No individual make-up examination will be offered.
Homework Assignments
Assignments helps you better understand how modeling and analytics can be used in various
settings.
The main purpose of the assignments is to help you better digest the course materials rather
than
testing and grading your performances in class. Accordingly, group work is encouraged: you
may
choose to work with your classmates, actively discuss on the problems together, and provide
and seek
helps. However, each student is required to hand in individual reports.
When your homework is due, you are required to submit the assigned homework at the
beginning of
the class. Late homework will be accepted with a 5-point penalty by 5 pm on the due date,
beyond
which there will be a penalty of 10 points for each additional day.
Course Study Outcomes
After completing this course, students should be able to:
1. Comprehend basic principles and techniques of applied mathematical modeling for
managerial
decision making processes;
2. Structure problems and perform logical analyses;
3. Extract insights from analysing the models and use them to inform decision makers;
4. Be equipped with spreadsheet skills and tools for business decision making.
Policy on Classroom Conduct and Academic Honesty
Participating in class discussions are encouraged, but private conversations with other
classmates are
strictly prohibited. Violating this policy will result in a substantial penalization to the final
grade.
The Chinese University of Hong Kong places very high importance on honesty in academic
work
submitted by students, and adopts a policy of zero tolerance on cheating and plagiarism. Any
related
offence will lead to disciplinary action including termination of studies at the University. For
more
details about CUHK policy, please visit: http://www.cuhk.edu.hk/policy/academichonesty/.