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MIS41160

Academic Year 2024/2025

Optimisation in Business (MIS41160)

Subject:
Management Information Systems
College:
Business
School:
Business
Level:
4 (Masters)
Credits:
8
Module Coordinator:
Assoc Professor Paula Carroll
Trimester:
Autumn
Mode of Delivery:
Blended
Internship Module:
No
How will I be graded?
Letter grades

Curricular information is subject to change.

Core.
A foundational module giving an overview and a complete taxonomy of the field of optimisation, and detail on some specific approaches, with some focus on classical optimisation.

Topics:
● Foundations of Operations Research
● Just-in-time maths (eg Calculus prerequisites)
● Numerical and gradient-based optimisation
● Combinatorial and convex optimisation with exact methods
● Heuristic search and optimisation (hill climbing, etc), also greedy approaches
● Software implementations

About this Module

Learning Outcomes:

At the end of this module, students should be able to:
1. Translate a verbal optimisation problem into a formal mathematical model and select a computational solution approach;
2. Choose an appropriate software tool to implement and solve the mathematical model;
3. Interpret the solution results in detail and discuss the limitations of the chosen solution approach;
4. Describe the similarities and differences between different optimisation approaches.

Indicative Module Content:

1. Problem formulation - Mathematical Modelling;
2. Mathematical Functions and Operations;
3. Continuous Functions - what we measure;
4. Discrete Maths - what we count;
5. Optimisation Applications.

Student Effort Hours:
Student Effort Type Hours
Lectures

36
Small Group

1
Specified Learning Activities

48
Autonomous Student Learning

70
Total

155

Approaches to Teaching and Learning:
In compliance with health advise on social distancing, activities may take place online and may include:
active/task-based learning;
peer and group work;
face-to-face and recorded lectures;
self-assessment practice exercises;

Requirements, Exclusions and Recommendations

Not applicable to this module.


Module Requisites and Incompatibles
Not applicable to this module.
 

Assessment Strategy  
Description Timing Component Scale Must Pass Component % of Final Grade In Module Component Repeat Offered
Exam (In-person): End of term written exam End of trimester
Duration:
2 hr(s)
 Graded No

70

 No
Quizzes/Short Exercises: Online MCQ Week 8 Graded No

10

 No
Group Work Assignment: Team assignment: Optimisation problem - mathematical model and solution report. Week 11 Graded No

20

 No

Carry forward of passed components
No
 

Resit In Terminal Exam
Spring Yes - 2 Hour
Please see Student Jargon Buster for more information about remediation types and timing. 

Feedback Strategy/Strategies

• Feedback individually to students, post-assessment
• Group/class feedback, post-assessment

How will my Feedback be Delivered?

Individual grade and summary class feedback for MCQs; Grade per team and summary class feedback for team assignment.

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