BA4519 SIMULATION & QUANTITATIVE MODELS IN BUSINESS
| Course Code: | 3124519 |
| METU Credit (Theoretical-Laboratory hours/week): | 3 (3.00 - 0.00) |
| ECTS Credit: | 6.0 |
| Department: | Business Administration |
| Language of Instruction: | English |
| Level of Study: | Undergraduate |
| Course Coordinator: | Res.Dr. HATİCE GONCA BULUR |
| Offered Semester: | Fall Semesters. |
Course Objectives
In real-life decision making problems, quantitative models have been used to represent, solve and analyze the problem. With the advances in technology, they become much more popular and serve as important consultants for the decision makers. These quantitative models not only provide a solution to the defined problem but also provide insight and guidance to the decision maker for better decisions. Among these quantitative models, in this course, we will introduce queuing models which are developed to optimize the operation of waiting lines and simulation modeling for complex business problems. We will perform Monte Carlo simulations via Excel spreadsheet models. The primary objective of this course is to provide the key concepts on queueing models and simulation, so that the students will be equipped with the necessary knowledge to use these models and conduct analysis to enhance the perspectives of the decision maker about the problem.
For this course, students should have taken BA 1502 Business Statistics and BA 3504 with a grade of at least DD.
Course Content
Designing simulation models. Spreadsheet simulation. Analysis and interpretation of simulation input/output. Queuing models. Dynamic programming.
Course Learning Outcomes
Upon successful completion of this course, students should be able to:
Course Specific Skills:
1. Describe the basic queuing system settings
2. Understand how to design simulation models
3. Understand the advantages and disadvantages of simulations
4. Analyze and interpret the simulation input/output
Discipline Specific Skills:
5. Develop an understanding of how spreadsheet models can be used to solve decision making problems
6. Recognize how quantitative models are useful in making managerial decisions
Personal and Key Skills:
7. Develop problem solving skills
8. Develop writing and discussion skills
9. Develop spreadsheet modeling skills
10. Prepare a group term-project that involves the application of the techniques learnt in the course to a particular problem
Program Outcomes Matrix
| Level of Contribution | |||||
| # | Program Outcomes | 0 | 1 | 2 | 3 |
| 1 | They attain advanced level of knowledge in the functional areas of business administration such as strategic management, marketing, accounting, finance, organization management, human resources, and operations management. | ✔ | |||
| 2 | They are capable of identifying and analyzing legal, environmental and social factors, which influence the basic functional areas of the business administration. | ✔ | |||
| 3 | They understand and implement rational, systematic and scientific approaches effectively in problem solving and decision-making processes. | ✔ | |||
| 4 | They are capable of applying, analyzing, synthesizing and evaluating the knowledge they have in diverse fields efficiently | ✔ | |||
| 5 | They are capable of transferring information by using efficient verbal and written communication techniques. | ✔ | |||
| 6 | They are capable of performing professional communication effectively also in English. | ✔ | |||
| 7 | They know the methods of performing efficient teamwork. | ✔ | |||
| 8 | They are capable of following the contemporary techniques, scientific and technological developments in their fields and are able to conduct research and studies in order to develop their business administration related knowledge, skills, and competences. | ✔ | |||
| 9 | They are knowledgeable in the areas of professional ethics and responsibility. | ✔ | |||
| 10 | They are capable of utilizing their knowledge and skills efficiently in global and multicultural contexts. | ✔ | |||
| 11 | They are knowledgeable in the issues of environment, social responsibility, social justice, quality and cultural values | ✔ | |||
| 12 | They have a creative, innovative and critical perspective. | ✔ | |||
0: No Contribution 1: Little Contribution 2: Partial Contribution 3: Full Contribution