Management Science (MiM)

What it is about

You will learn to model, solve and analyze management and business decision problems with mathematical methods. After the module you will be able, among other things, to formulate and solve linear and mixed-integer programs, dynamic programs as well as networks (shortest paths, maximum flows) and to apply decision trees and utility theory to risk-bearing decisions.

What you will be able to do

• Formulate and solve linear programs
• Model and solve mixed-integer programs
• Apply dynamic programming
• Network algorithms: shortest paths and maximum flows
• Create and evaluate decision matrices and decision trees
• Use utility theory for risky decisions
• Utilize scoring models for multi-criteria decisions
• Acquire advanced modeling knowledge at master’s level

What the module consists of

• Vorlesungintroduces the content
• Übung (wöchentlich)repeats and deepens the lecture content
• Tutorium (zweiwöchentlich, freiwillig)solving exercises in groups under the guidance of student tutors; review of concepts and assistance

Teaching method

• Vorlesungintroduction of theoretical concepts
• Übungdeepening and application of the lecture content
• Tutoriumindependent practice in small groups with support from student tutors