Management science, otherwise known as operations research, is the application of analytical and mathematical systems to help make better organizational decisions. This includes determining the allocation of resources, managing production schedules, and setting prices. Trinischool Management Science online course is available for students who find the concept of making beneficial changes within an organization appealing.
Management science students may take a combination of analytical courses, such as deterministic models, as well as core courses in management, operations, and analysis. These courses could include capital markets and investments, corporate finance, production and operations management, enterprise risk management, and supply chain management. Read on for a closer look at three management science courses:
- Dynamic Systems. A dynamic systems course analyzes and researches the human decision-making process and the methods or approaches that can help students make better decisions. Topics covered in this course may include formulation and analysis, solutions of linear dynamic systems, eigenvalues and eigenvectors of linear systems, nonlinear dynamics, phase plane analysis, Liapunov functions, and catastrophe theory.
- Operations Management. An operations management course examines the planning, scheduling, and management of manufacturing and service entities. This includes study in optimal facility location, production planning, inventory control, and capacity expansion.
- Economics of Natural Resources. This course provides students an economic analysis of the use of energy, air, water, and other natural resources. The course may also cover depletion and extinction conditions, market failure mechanisms, policy options, stock-flow relationships, and optimal long-term decision making.