MBA- Part-I Sem-I
105 - Management Science
Course Overview
Objective of the course is to have a general understanding of mathematical sciences and learn how to apply this knowledge in areas relevant to business and finance, so that they can prove to be compact, consistent and powerful tools especially in the fields of Economics, Commerce and Industry.
Course Syllabus
Group-I:
Linear Programming: Concepts, Formulation of LP Models, Solution of LP Models (Maximization and Minimization Problems) using Graphical Techniques and Simplex Method, Duality, Applications to Business Management.
Transportation Problems: Concepts, Methods of Finding Feasible Solutions (N-W Corner Rule, Least Cost Cell, Vogel’s Approximation Method), Optimality Tests – Stepping Stone Method and Modified Distribution Method, Degeneracy, Unbalanced Problems, Maximization Problems.
Assignment Problems: Concepts, Hungarian Technique, Unbalanced Problems, Maximization Problems, Crew Assignment Problems.
Group-II:
Game Theory: Concepts, Solutions of 2-person Games, Pure & Mixed strategy games, Odds Method, Dominance Method, Sub Games Method, Equal Gains Method, Graphical Technique.
Determinants & Matrices: Introduction to Matrices, Types, Adjoint and Inverse of a Matrix, Solving Simultaneous Linear Equations upto 3 Variables using Matrices (Matrix Inverse Technique). Introduction to Determinants, Solution of Determinants, Solving Simultaneous Linear Equations upto 3 variables using Determinants (Cramer’s Rule), Managerial Applications.
Replacement Theory: Introductory Concepts, Individual Replacement: Replacement of Items that Deteriorate with time (With & Without change in Money Value), Group Replacement: Replacement of Items that break down suddenly.
Pedagogy:
Extensive use of technology in the class rooms, Online modules of MOOCs, Research Based teaching, use of concerned Article from journals and magazines.
Case/Class Discussions:
Students will work in a group to prepare a brief write-up, due before the start of class covering the case study. Question in the case study would include the quantitative analysis of the problems solving and decision-making.
Class Participation:
Attendance will be taken in each class and class participation is scored for each student for each class.