 | | |
| Version 2013-2014 |
|
| MQGE0005-5 | Quantitative Methods in Management
- Part : Operations Research
- Part : Statistics
|
|
| Duration : | Part : Operations Research : 15h Th
Part : Statistics : 15h Th
|
|
| Number of credits : |
| Master in Management Sciences, in-depth approach, 1st year | | 5 |
|
| Master degree in Management, didactic approach, 1st year | | 5 |
|
| Master degree in Management, professional focus in Banking and Asset Management, 1st year | | 5 |
|
| Master en sciences de gestion, à finalité spécialisée en droit et gestion, 2nd year | | 5 |
|
| Master en sciences de gestion à finalité spécialisée en digital marketing and sales management, 1st year | | 5 |
|
| Master degree in Management, professional focus in Law, 1st year | | 5 |
|
| Master degree in Management, professional focus in Entrepreneurship, 1st year | | 5 |
|
| Master degree in Management, professional focus in Financial Analysis and Audit, 1st year | | 5 |
|
| Master in Management Sciences, professional Focus, 1st year | | 5 |
|
| Master degree in Management, professional focus in Human Management and Organization, 1st year | | 5 |
|
| Master degree in Management, professional focus in Management, 1st year | | 5 |
|
| Master en sciences de gestion, à finalité spécialisée en marketing and strategic intelligence, 1st year | | 5 |
|
| Master degree in Management, professional focus in Social Entreprise Management, 1st year | | 5 |
|
| Master degree in Management, professional focus in Strategic Intelligence and Marketing, 1st year | | 5 |
|
| Master degree in Management | | 5 |
|
|
|
| Lecturer : | Part : Operations Research : Yasemin Arda
Part : Statistics : Cédric Heuchenne
|
|
| Coordinator : | Cédric Heuchenne |
|
Language(s) of instruction :
|
| English language |
|
Course contents :
|
|
 | | Part : Operations Research |
|
| Operations research (OR) is a discipline that aims to solve complex real world decision problems using scientific approaches. Application areas of this discipline are various: transportation, production systems, telecommunication, administration, etc. The course gives an introduction to the most popular mathematical models and methods of operations research: linear programming, network models (minimal spanning tree problems and shortest path problems), project scheduling with PERT/CPM, decision making under risk and under uncertainty. |
| | Part : Statistics |
|
| In this course, the methods studied in basic statistical courses are adapted to analyzing useful applied issues in Economics and Management (comprehension of a situation and its evolution, support for decision-making...).
Covered contents will be first variance analysis (comparison of several averages) and inter-variable relation modelling (linear models). Next, we will develop some nonparametric tests (goodness-of-fit and independence). Finally, students will be introduced to the maximum likelihood estimation method and some basic concepts in time series and multivariate analysis. |
|
|
Learning outcomes of the course :
|
|
| | Part : Operations Research |
|
| Intended key learning outcomes:
- To understand, in management situations, the transversal tools of quantitative reasoning, information systems and project management.
- Developing a critical sense (arguing).
- Creative conception of solutions.
Specific learning outcomes of the course:
- To acquire a basic knowledge about the mathematical models of real world decision problems and the fundamental methods of operations research.
- To be able to solve and interpret correctly the solutions of simple OR problems.
- To be able to recognize the situations where OR techniques can be used as decision making tools and to interpret correctly the conclusions which can be derived using these techniques.
|
| | Part : Statistics |
|
| C1. To acquire an overview of statistical problems met in the fields of Economics and Management.
P2. To be able to solve and interpret solutions of practical simple problems related to the theoretical part of the course.
P3. To be able to recognize situations where studied methods can be applied and what are their limitations in such particular situations.
More generally, on the program (master in management) point of view, the course addresses the following Key Intended Learning Outcomes:
- To understand, in management situations, the transversal tools of quantitative reasoning, information systems and project management.
- Developing a critical sense (arguing).
- Developing a transversal global vision.
|
|
|
Prerequisites and co-requisites/ Recommended optional programme components :
|
|
| | Part : Operations Research |
|
| Basic notions of mathematics and statistics |
| | Part : Statistics |
|
| Basic course in probability (cumulative distribution function, density, distribution, mean, variance, usual discrete and continuous univariate laws, multivariate normal) and statistical inference (estimation , confidence intervals, hypothesis tests). Equivalent to the content of the course: Probability and statistical inference STAT0067 |
|
|
Planned learning activities and teaching methods :
|
|
| | Part : Operations Research |
|
|
- Lectures
- Software presentations
- Numerical exercises and multiple choice tests available online
|
|
|
Mode of delivery (face-to-face ; distance-learning) :
|
|
| | Part : Operations Research |
|
| Face-to-face: The topics are covered in 5 * 3 lecture hours. Face-to-face exercise sessions are not organized for this course.
Distance-learning: Numerical exercises, their solutions, and multiple choice tests are provided on the virtual campus Lol@. |
| | Part : Statistics |
|
| Used methodology
A1. Ex-cathedra classes: theoretical introduction and applications (quick overview of lessons of previous years, presentation of various methods, interpretation of their solutions, examples)
A1. Study and comprehension of the course material
A2. Supervised software applications: the professor presents the software to the students (with videos), and gives them exercises. Each student is expected to solve those exercises, aside from the teaching sessions (with the possible help from the professor).
Overview of the course agenda
The course starts on 28 October and ends on 2 December. The statistical part of the course consists of 5 three hours lessons (one lesson is devoted to a software tutorial session).
Decomposition of the student workload
A1 Ex-cathedra course (12h)
A2 Study (30h)
A2 Software applications (3h)
A2 Software training (12h)
Exam (2h) |
|
|
Recommended or required readings :
|
|
| | Part : Operations Research |
|
| Documents that can be found on the virtual campus Lol@:
1. Syllabus: The course notes and the PowerPoint presentations used during the lectures can be found on the virtual campus Lola@. The students are wanted to be in possession of these notes during the lectures.
2. Exercises: Students will be provided with some numerical exercises, their solutions, and multiple choice tests that they can use to practice their knowledge and to prepare themselves for the written exam as the chapters are treated during the semester.
Recommended Reference:
Taha, H.A., 2007. Operations Research, An Introduction, eight edition, Pearson Prentice Hall. |
| | Part : Statistics |
|
| The slides of the course, the reference books improving comprehension and the statements of exercises will be placed at the disposal of students (see the campus lola). Slides and exercises correspond to the material of the exam.
Advised books:
Wonnacott R.J. and Wonnacott T.H. (1990), Introductory Statistics for Business and Economics, New York, John Wiley & Sons (ISBN : 047161517X)
Simar, L. (2003), Statistique en Economie et Gestion, manuscript 248 pages, Institut de Statistique, Université Catholique de Louvain, Louvain-la-Neuve |
|
|
Assessment methods and criteria :
|
|
| | Part : Operations Research |
|
| 1st session: A multiple choice test
2nd session: A written exam or an oral exam depending on the number of students |
| | Part : Statistics |
|
| E1/E2/E3. Final written and individual exam (during the weeks dedicated to the evaluations), covering the complete course material (40% dedicated to theory, 35% to applications and 25% to questions concerning softwares). |
|
|
Work placement(s) :
|
| |
|
Organizational remarks :
|
|
| | Part : Operations Research |
|
| The course is given during the first semester.
The course is given in English. |
| | Part : Statistics |
|
| Teaching language: English |
|
|
Contacts :
|
|
| | Part : Statistics |
|
| Cédric HEUCHENNE, HEC-ULg Management School of the University of Liège, N1, local 309, email: C.Heuchenne@ulg.ac.be
Alessandro BERETTA, HEC-ULg Management School of the University of Liège, N1, local 310, email: A.Beretta@ulg.ac.be |
|
|
|
| Items online : |
Part : Operations Research
|
|
| Required course materials |
| All the required course materials can be found on the virtual campus Lol@ |
|
Part : Statistics
|
|
|
| course material |
| slides, videos, exercises |
|
|
|
| |
