University of Economic of Ho Chi Minh city

School of International Business and Marketing

BUSINESS MODELLING AND APPLICATION

COURSE SYLLABUS

Contact details

Instructor: Nguyen Hue Minh – [email protected]

Office hours: 3 credits

Class time and room numbers: 3 credits

Course delivery: This course is student-centered and uses multiple approaches, which include case
study, in-class discussion, and group homework to enhance student learning and application of key
concepts of the course.

Lectures and discussion: 30 hours

Quiz and Group exercises: 15 hours

Course learning objectives

Upon completion, students are expected to be able to:

- Understand and explain in your own words ways in which model-based support systems are
needed and can be utilized in managerial decision processes.
- Explain how and why modeling is used in the support system environment.
- Identify and differentiate different model components.
- Understand and explain the modeling process and be able to apply it in a variety of different
business situations.
- Compare and contrast different decision structuring techniques and to use these techniques to
analyze various situations.
- Evaluate models applying good modeling and validation techniques.
- Implement model-based management solution using Risk Solver Platform for Education (RSPE),
QM for Windows.
- Apply major quantitative techniques in order to improve managerial decisions.
- Develop analytical, critical thinking, forecasting and problem-solving skills in a business context.

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Course description: key content: Linear Programming, Risk Solver Platform for Education (RSPE), What-If
Analysis, Network Optimization, Decision Analysis, Decision Trees…

Course materials:

Required readings:

Textbook: Hiller (2014). Introduction to Science Management: a Modeling and Case Studies Approach
with Spreadsheets. 5e. McGraw-Hill.

Reference book: Bernard W.Taylor III (2016). Introduction to Management Science. 12e. Pearson.

Testing and Grading: Each student's grade will be determined by the number of points that he/she
accumulated during the semester. There will be a total of 10 points derived from the following sources:
2 quizzes, 2 group homework, and a final exam. The final exam will cover topics discussed after the
previous test and other important selected topics from the course. Cutoff points very close to 90%, 80%,
70%, 60% … will be used to determine grades.

1. Attendance and in-class discussion: This is a discussion-based course and your participation is
important to the learning experience. Much of the learning in this course will come from the
chance to express your ideas and exchange them with your peers. Please note that simply
attending all classes and being unprepared does not make one successful in this course.
2. Quizzes: Quizzes will be assigned at the end of 4 first topics. Each student must pass the quiz
before doing the next.
3. Group homework: Homework problems will be assigned at the end of each topic. Homework is
considered an essential learning tool and provides excellent preparation for tests. Some
assignments will include use of the computer. Three (in five) highest marks will be handed in for
a grade. Whether electronic or hard copy, the homework should be legible, clearly documented
and prepared according to instructions.
4. Evaluation:

Individual Quizzes 20%

Midterm (Individual) 15%

Group homework 15%

Final exam (CONDITION: PARTICIPATING 80% IN CLASS) 50%

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Course teaching plan:

Day Content Teaching method Learning Student works in detail Corresponding

(hour no.) (chapter, section) materials (Work assignment, presentation, case study) CLO
(chapter,
section)
Day no.1 Chapter 1. Introduction Lecture, discussion, Text book. Preview materials provided by the lecturer CLO1.1
(5 periods: 4 1. Define the term management science. group presentation Materials via LMS and Chap 1 + Chap 2. CLO1.2
periods in 2. Describe the nature of management (L, D, GP) provided by CLO1.3
class, 1 period science. the lecturer. Install software QM for Windows and Add-in
LMS) Solver in Excel. CLO2.1
3. Explain what a mathematical model is.
CLO2.2
4. Use a mathematical model to perform Group forming: 5 Ss/ a group
break-even analysis. CLO3.1
5. Use a spreadsheet model to perform C1. Show and tell break-even analysis by CLO3.2
break-even analysis. doing exercise: Special Products.

Chapter 2. Linear Programming: Basic C2. Show and tell Product Mix Problem by
Concepts doing exercise: The case of Wyndor Glass
1. Explain what linear programming is. Co.
2. Identify the three key questions to be
addressed in formulating any spreadsheet LMS:
model. C1. Case study 1.S1. Make or buy
3. Name and identify the purpose of the C2. Case study 2.S1. Back Savers
four kinds of cells used in linear Production Problem
programming spreadsheet models.
4. Formulate a basic linear programming
model in a spreadsheet from a description
of the problem.
5. Present the algebraic form of a linear
programming model from its formulation
on a spreadsheet.
6. Apply the graphical method to solve a
two-variable linear programming problem.
7. Use Excel to solve a linear programming
spreadsheet model.
Day no.2 Chapter 2. Linear Programming: Basic L, D, GP Text book. Preview materials provided by the lecturer CLO1.1
(5 periods) Concepts (cont.) Materials via LMS and Chap 2. CLO1.2

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  Risk Solver Platform for Education provided by CLO1.3
(RSPE) the lecturer. C2. Show and tell A Minimization
 A Minimization Example Example by: Using Excel’s Solver to Solve CLO2.1
 Linear Programming from a Broader the Profit and Gambit Co. Advertising – CLO2.2
Perspective. Mix Problem
CLO3.1
CLO3.2
LMS (Group homework): Solving the Case
Chapter 3. Linear Programming: 3.S1: Farm Management.
Formulation and Applications

1. Advertising-Mix Problem
2. Resource – Allocation Problems.
Day no.3 Chapter 3. Linear Programming: L, D, GP Text book. Preview materials provided by the lecturer CLO1.1
(5 periods) Formulation and Applications (cont.) Materials via LMS and Chap 15. CLO1.2
3. Cost-Benefit-Trade-Off Problems (đầu tư provided by CLO1.3
dòng tiền) the lecturer. Demonstrate 6 problems:
1. Advertising-Mix Problem CLO2.1
4. Mixed problems
2. Resource – Allocation Problems by CLO2.2
5. Transportation problems
doing exercise: The TBA Airlines Problem.
6. Assignment Problems. (phân bổ nhân sự, CLO3.1
3. Cost-Benefit-Trade-Off Problems by
min lương) CLO3.2
doing exercise: the Union Airways problem;
7. Model Formulation from a Broader Think big
Perspective. (xác định biến, constraints, 4. Mixed problems by doing exercise: the
objectives) Super Grain Case Study (cont.)
5. Transportation problems by doing
exercise: The Big M Transportation
Problem
6. Assignment Problems by doing exercise:
Sellmore Company

LMS (Group homework): Solving the Case

3.S2: Diet Problem.
Day no.4 Chapter 5. What-If Analysis for Linear L, D, GP Text book. Preview materials provided by the lecturer CLO1.1
(5 periods) Programming Materials via LMS and Chap 5. CLO1.2
1. The Importance of What-If Analysis to provided by CLO1.3
Managers. the lecturer. Show and tell What-If Analysis by doing
exercise Wyndor Case Study (cont.). CLO2.1
2. Continuing the Wyndor case study
Sort sensitivity reports  interpret CLO2.2
3. The Effect of Changes in One Objective
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 Function Coefficient. sensitivity ranges (min, max) CLO3.1
4. The Effect of Simultaneous Changes in CLO3.2
Objective Function Coefficients. LMS (Group homework): Solving the Case
5. The Effect of Single Changes in a 5.S1: Sensitivity analysist at Stickley
Constraint. Furniture.
6. The Effect of Simultaneous Changes in
the Constraints.

Day no.5 Review L, D, GP Text book. Preview materials provided by the lecturer CLO1.1
(5 periods) 1. Formulate network models for various Materials via LMS and Chap 6. CLO1.2
types of network optimization problems. provided by CLO1.3
2. Describe the characteristics of minimum- the lecturer. Show and tell
1. Minimum-cost flow problems by: Doing CLO2.1
cost flow problems, maximum flow
an exercise the Distribution Unlimited Co. CLO2.2
problems, and shortest path problems.
2. Maximum Flow Problem by: Doing an
3. Identify some areas of application for CLO3.1
exercise The case of BMZ Co.
these types of problems. 3. Shortest path problems by: Doing CLO3.2
4. Identify several categories of network exercises:
optimization problems that are special - The Littletown Fire Department Problem;
types of minimum-cost flow problems. - Minimizing Total Cost Sarah’s car
5. Formulate and solve a spreadsheet purchasing problem;
model for a minimum-cost flow problem, a - Minimizing Total Time Quick Company
maximum flow problem, or a shortest path
problem from a description of the problem. LMS (Group homework): Solving the Case
6.S1. Distribution at Heart Beats.
Midterm (individual)
Day no.6 Chapter 9. Decision Analysis L, D, GP Text book. Preview materials provided by the lecturer CLO1.1
(5 periods) 1. Decision Analysis (QM) Materials via LMS and Chap 9. CLO1.2
2. Decision Criteria. provided by CLO1.3
3. Decision Trees. the lecturer. Show and tell Decision Analysis by doing
exercise The Goferbroke Company CLO2.1
4. Sensitivity Analysis with Decision Trees.
Problem. CLO2.2
5. Checking whether to obtain more
information CLO3.1
6. Using new information to update the CLO3.2
probabilities
Day no.7 Chapter 9. Decision Analysis (cont.) L, D, GP Text book. Preview materials provided by the lecturer CLO1.1
(5 periods) Materials via LMS and Chap 9. CLO1.2
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 7. Using a decision tree to analyze the provided by CLO1.3
problem with a sequence of decisions. the lecturer. QM CLO2.1
8. Performing sensitivity analysis on the CLO2.2
problem with a sequence of decisions. LMS (Group homework): Solving the case CLO3.1
9. Using utilities to better reflect the values of Case 9.S1: New Vehicle Introduction.
of payoffs.
10. The Practical Application of Decision
Analysis.
Day no.8 Chapter 10. Forecasting L, D, GP Preview materials provided by the lecturer CLO1.3
(5 periods) 1. An overview of forecasting techniques via LMS and Chap 10. CLO2.2
2. Case study Computer Club Warehouse CLO3.2
Problem Show and tell Forecasting Techniques by
3. Applying time-series forecasting methods doing exercise: The case of Computer
to the case study Club Warehouse Problem.
4. The Time-Series Forecasting Methods in
Perspective LMS (Group homework): Solving the case
of 10.S1 Forecasting charitable donations
5. The seasonal effect
at the Unions Mission
Day no.9 LMS self-study CLO1.3
(5 periods) Wrap-up CLO2.3
Prepare for the final test
Total:
45 periods