Faculty of Business and Economics

Monash University

Postgraduate - Unit

This unit entry is for students who completed this unit in 2015 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 3, 0.125 EFTSL

Refer to the specific census and withdrawal dates for the semester(s) in which this unit is offered.

FacultyFaculty of Business and Economics
Organisational UnitDepartment of Econometrics and Business Statistics
OfferedCaulfield First semester 2015 (Evening)


Completion of MGX5961 and MGX5690 is recommended.


This unit complements students' practical understanding of business practices by introducing quantitative techniques in optimisation. Of particular interest are those techniques designed to improve the efficiency and transparency of supply chains, retailing and operations. Topics covered include quantitative techniques for forecasting, waiting lines, process modelling, logistics, resource planning and e-commerce. Students will learn to apply such methods in business settings.


The learning goals associated with this unit are:

  1. develop business modelling skills and recognise the importance of optimisation techniques in solving business problems
  2. understand the role of optimisation approaches for dealing with uncertainty in the business environment
  3. develop basic skills in forecasting for business decisions
  4. apply optimisation tools to facilitate movement of information and resources through a business process
  5. recognise the role of online tools in business operation.


Within semester assessment: 60%
Examination: 40%

Workload requirements

Minimum total expected workload to achieve the learning outcomes for this unit is 144 hours per semester typically comprising a mixture of scheduled learning activities and independent study. Independent study may include associated readings, assessment and preparation for scheduled activities. The unit requires on average three/four hours of scheduled activities per week. Scheduled activities may include a combination of teacher directed learning, peer directed learning and online engagement.

See also Unit timetable information