Management Science

The American College of Greece

Course Description

  • Course Name

    Management Science

  • Host University

    The American College of Greece

  • Location

    Athens, Greece

  • Area of Study

    Management Science

  • Language Level

    Taught In English

  • Prerequisites

    MA 1009 Mathematics for Business, Economics and Sciences
    MA 2021 Applied Statistics

  • Course Level Recommendations

    Upper

    ISA offers course level recommendations in an effort to facilitate the determination of course levels by credential evaluators.We advice each institution to have their own credentials evaluator make the final decision regrading course levels.

    Hours & Credits

  • US Credits

    3
  • Recommended U.S. Semester Credits
    3
  • Recommended U.S. Quarter Units
    4
  • Overview

    DESCRIPTION:
    Quantitative techniques used to provide insight into business decisions. Topics include linear programming, sensitivity analysis, networks, decision analysis, waiting lines, Markov analysis and simulation.

    RATIONALE: 
    The complexity of modern business has given rise to complex managerial problems. Expressing these problems quantitatively facilitates their solution through the application of the proper model. Knowledge of management science enables managers, consultants and auditors to obtain a documented approach to managerial problems solutions. In addition, modern business concepts, like customer relationships management and business analytics, require a basic understanding of quantitative methods. This course also provides an analytical framework to better comprehend the functional areas of management (accounting, finance, personnel, marketing, operations and information systems).

    LEARNING OUTCOMES: 
    As a result of taking this course, the student should be able to:
    1. Analyze and evaluate important management science theories and models, and explain their impact on managerial decision making. (analysis, evaluation)
    2. Analyze real life managerial problems in order to select, adjust and assess the mathematical model that best suits the challenges faced. (application, analysis, evaluation)
    3. Apply management science models, analyze their outputs and implications, and recommend an appropriate course of action. (application, analysis, evaluation)

    METHOD OF TEACHING AND LEARNING:
    In congruence with the learning and teaching strategy of the college, the following tools are used:
    • Lectures, problem solving exercises, model applications, small case studies, the carrying out of a research project and in-class presentation.
    • Office hours held by the instructor to provide further assistance to students.
    • Use of the Blackboard Learning platform to further support communication, by posting lecture notes, assignment instruction, timely announcements, and online submission of assignments.