BUS 220 Managerial Decision Making

BUS 220 Managerial Decision Making (Summer II 2009)

1. Dr. Jeff S. Hong

Tel: 212)220-8388 (Email is more effective.)

Email: professor

webpage: http://fly.to/jeffecon 2. Day and Time: SEC 61A Mon~Thr 6:00 P.M.~8:10 P.M.
3. Classroom: S607 (S633)

4. Required Texts:

Managerial Decision Modeling with Spreadsheets, Barry Lender, Ralph M, Stair Jr. & Nagraj Balakrishnan, (2e),

2003, Prentice-Hall, ISBN 0-13-066195-3

Excel Workbook for use with Practical Business Math Procedures, Jeff S. Hong, McGraw-Hill, 2008

(ISBN 978-0-7-327854-4) 5. Office & Office Hours: S657 Mon~Thr 5:00 P.M.~5:50 P.M. 6. Course Outline

Designed to develop student's ability to make decisions as a manager, this course is approached from a quantitative and practical view point. Quantitative reasoning in formulating various business problems and solving them requires use of current spreadsheet technology in order to provide an intepretation of the solution and perform sensitivity (what if?) analysis. Emphasis is on problem formulation. Excel is used as a means to solve the problem. As a consequence, solution issues and coding are not the primary pursuit of the course. The importance of the interpretation of the solution is underlined together with the presentation of the overall outcome. The communicative aspect of the managerial decisions based on data and modeling is the focal point of the course.

This course also uses MS Excel & Powerpoint extensively. Working in groups of four to five members, students are expected to acquire intermediate-level knowledge and mastery of these softwares through the course of the semester. Use of Powerpoint for presentation is strongly suggested.

7. Course Objectives

The students are introduced to managerial decision-making using quantitative models.

The students will be familiarized with reasoning of the model, its solution using currently available and widely used technology and the interpretaion and use or the outcome.

The students will master written and oral explantion of the mangerial decision-making process using models.

The students will acquire ability to present the outcome of the model to suggest solution to business problems.

8. Learning Outcomes
Upon completion of this course, the students will be able to

Understand modeling aspects of linear programming with its applications in sensitivity analysis, transportation and network.

Understand modeling aspects of integer, goal and non-linear prgramming.

Apply project management, queuing and inventory control models.

Perform simulations and forecasting.

9. Outline of Topics

Topic 1: Intro to Managerial Decision-Making

i) Tax Computation Example

ii) Break-Even Analysis Example

Topic 2: Linear Programming Models: Graphical and Computer Methods

i) Formulating a Linear Programming Problem

ii) Graphical Solution with Bivariate Model

iii) Minimization Example

iv) Linear Programming with Excel Solver

Topic 3: LP Modeling Applications

i) Manufacturing Applications

ii) Marketing Applications

iii) Finance Applications

iv) Staffing (HR) Applications

v) Transportation Applications

vi) Blending Applications

vii) Multiperiod Applications

Topic 4: Sensitivity Analysis

Topic 5: Transportation, Assignment and Network Models

Topic 6: Integer, Goal, and Non-linear Programming Models

Topic 7: Project Management

Topic 8: Decision Analysis

Topic 9: Queuing Models

Topic 10: Simulation Modeling

Topic 11: Forecasting Models

Topic 12: Inventory Control

Extra Topic: Basic Fiancial Accounting

Extra Topic: Optimal Production Level

Extra Topic: Optimal Pricing Technique

Extra Topic: Linear Programming &

Download free Adobe Acorbat.

10. Evaluation Method and Grading Criteria

There will be 2 Basic LP Modeling homeworks, a midterm, and an Advanced LP Model Analysis and Interpretation Projects for the final to be presented in Powerpoint slides. The compostion of the overall term(semester) grade will consist of the following:

1. 2 Homeworks: 20% each

2. Midterm and Final: 25% each

3. Attendance & Participation: 10%

A separate on-line Class Forum is set up for collegial communication & cooperation. All messages and notices will be posted on this discussion group. Students are required to sign up for the group to check out the annnouncements on regular basis.

Attendance & Class Participation
At BMCC the maximum number of absence is limited to one more hour than the number of hours a class meets in one week. For example, if you are enrolled in a 4 hour class that meets 2 times a week, you are allowed 5 hours of absence (not 5 days). In the case of excessive absence, the instructor has the option to lower the grade or assign an "F" or "WU" grade.

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