Undergraduate - UnitETC2480 - Business modelling methods

This unit entry is for students who completed this unit in 2014 only. For students planning to study the unit, please refer to the unit indexes in the the current edition of the Handbook. If you have any queries contact the managing faculty for your course or area of study.

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6 points, SCA Band 2, 0.125 EFTSL

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Level	Undergraduate
Faculty	Faculty of Business and Economics
Organisational Unit	Department of Econometrics and Business Statistics
Offered	Clayton Second semester 2014 (Day)
Coordinator(s)	Associate Professor Ralph Snyder

Synopsis

This unit provides an introduction to business modelling with a primary emphasis on deterministic methods. Its topics include principles of business modelling, elementary matrix algebra, linear programming, integer programming, network models, project scheduling and inventory control. Computational work is undertaken with the professional computer modelling package Matlab.

Outcomes

The learning goals associated with this unit are to ensure that students can:

identify the structure of business problems using concept diagrams
formulate and solve business problems with quantitative methods such as matrix algebra and linear programming
understand the theory of linear programming and the simplex method using graphical and algebraic methods
interpret and evaluate solutions to linear programming problems
develop integer programming formulations of business problems and use the branch and bound method to solve them
understand common applications in operations management, project management and supply management.