printer friendly pageMS&E 22Q: The Flaw of Averages
Uncertain assumptions in business and public policy are often replaced with single ¿best guess¿ or average numbers. This leads to a fallacy as fundamental as the belief that the earth is flat, which I call the Flaw of Averages. It states, in effect, that: plans based on average assumptions are wrong on average. This class will discuss mitigations of the flaw of averages using simulation and other methods from probability management.
Terms: Aut
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Units: 3
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Grading: Satisfactory/No Credit
Instructors:
Savage, S. (PI)
MS&E 101: Undergraduate Directed Study
Subject of mutual interest to student and faculty member. Prerequisite: faculty sponsor.
Terms: Aut, Win, Spr, Sum
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Units: 1-15
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Repeatable for credit
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Grading: Letter or Credit/No Credit
Instructors:
Bambos, N. (PI)
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Barley, S. (PI)
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Blank, S. (PI)
;
Brandeau, M. (PI)
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Instructors:
Bambos, N. (PI)
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Barley, S. (PI)
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Blank, S. (PI)
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Brandeau, M. (PI)
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Byers, T. (PI)
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Chiu, S. (PI)
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De La Grandville, O. (PI)
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Eesley, C. (PI)
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Eisenhardt, K. (PI)
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Erhun Oguz, F. (PI)
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Giesecke, K. (PI)
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Glynn, P. (PI)
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Goel, A. (PI)
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Hausman, W. (PI)
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Hecker, S. (PI)
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Hinds, P. (PI)
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Holtzman, S. (PI)
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Howard, R. (PI)
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Huntington, H. (PI)
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Infanger, G. (PI)
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Johari, R. (PI)
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Johnson, B. (PI)
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Katila, R. (PI)
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Kieffel, H. (PI)
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Kosnik, T. (PI)
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Luenberger, D. (PI)
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May, M. (PI)
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McGinn, R. (PI)
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Murray, W. (PI)
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Novitsky, D. (PI)
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Pate-Cornell, M. (PI)
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Perry, W. (PI)
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Pietzsch, J. (PI)
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Primbs, J. (PI)
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Robinson, B. (PI)
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Saberi, A. (PI)
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Saunders, M. (PI)
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Savage, S. (PI)
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Seelig, T. (PI)
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Shachter, R. (PI)
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Sutton, R. (PI)
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Sweeney, J. (PI)
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Tabrizi, B. (PI)
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Tse, E. (PI)
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Van Roy, B. (PI)
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Veinott, A. (PI)
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Weber, T. (PI)
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Weyant, J. (PI)
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Ye, Y. (PI)
MS&E 107: Interactive Management Science (MS&E 207)
Analytical techniques such as linear and integer programming, Monte Carlo simulation, forecasting, decision analysis, and Markov chains in the environment of the spreadsheet. Probability management. Materials include spreadsheet add-ins for implementing these and other techniques. Emphasis is on building intuition through interactive modeling, and extending the applicability of this type of analysis through integration with existing business data structures.
Terms: Aut, Sum
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Units: 3
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UG Reqs: GER:DBEngrAppSci
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Grading: Letter or Credit/No Credit
Instructors:
Savage, S. (PI)
MS&E 111: Introduction to Optimization (ENGR 62)
Formulation and analysis of linear optimization problems. Solution using Excel solver. Polyhedral geometry and duality theory. Applications to contingent claims analysis, production scheduling, pattern recognition, two-player zero-sum games, and network flows. Prerequisite:
MATH 51.
Terms: Aut, Spr
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Units: 4
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UG Reqs: GER:DBEngrAppSci
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Grading: Letter or Credit/No Credit
Instructors:
Goel, A. (PI)
MS&E 120: Probabilistic Analysis
Concepts and tools for the analysis of problems under uncertainty, focusing on model building and communication: structuring, processing, and presentation of probabilistic information. Examples from legal, social, medical, and physical problems. Spreadsheets illustrate and solve problems as a complement to analytical closed-form solutions. Topics: axioms of probability, probability trees, random variables, distributions, conditioning, expectation, change of variables, and limit theorems. Prerequisite:
MATH 51. Recommended: knowledge of spreadsheets.
Terms: Aut
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Units: 5
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UG Reqs: GER:DBEngrAppSci
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Grading: Letter or Credit/No Credit
Instructors:
Shachter, R. (PI)
MS&E 140: Accounting for Managers and Entrepreneurs (MS&E 240)
Non-majors and minors who have taken or are taking elementary accounting should not enroll. Introduction to accounting concepts and the operating characteristics of accounting systems. The principles of financial and cost accounting, design of accounting systems, techniques of analysis, and cost control. Interpretation and use of accounting information for decision making. Designed for the user of accounting information and not as an introduction to a professional accounting career. Enrollment limited. Admission by order of enrollment.
Terms: Aut, Win, Sum
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Units: 3-4
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Grading: Letter or Credit/No Credit
Instructors:
Stanton, F. (PI)
MS&E 142: Introductory Financial Analysis
Evaluation and management of money, complicated by temporary distributions and uncertainty. The ¿time-value of money" and its impact on economic decisions (both personal and corporate) with the introduction of interest rate (constant or varying over time); several approaches critically examined and made consistent as suitable metrics of comparison. The concept of investment diversification in the presence of uncertainty; portfolio selection and efficient frontier analysis leading to the formulation of the Capital Asset Pricing Model; practical implementation of the concepts, including comparison of loan (e.g., house and auto) terms, credit card financial terms, interest rate term structure and its relationship to rate-of-return analysis, and graphical presentation of uncertain investment alternatives; and current economic news of interest. Critical thinking, discussion, and interaction, using group and computer labs assignments. Prerequisites: differential calculus and probability. Recommended: optimization.
Terms: Aut
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Units: 3
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Grading: Letter or Credit/No Credit
Instructors:
Chiu, S. (PI)
MS&E 178: The Spirit of Entrepreneurship
Is there more to entrepreneurship than inventing the better mouse trap? This course uses the speakers from the Entrepreneurial Thought Leader seminar (MS&E472) to drive research and discussion about what makes an entrepreneur successful. Topics include venture financing, business models, and interpersonal dynamics in the startup environment. Students meet before and after MS&E 472 to prepare for and debrief after the sessions. Enrollment limited to 50 students. Admission by application.
Terms: Aut, Win, Spr
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Units: 3
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Repeatable for credit
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Grading: Letter (ABCD/NP)
Instructors:
Belani, R. (PI)
MS&E 180: Organizations: Theory and Management
For undergraduates only; preference to MS&E majors. Classical and contemporary organization theory; the behavior of individuals, groups, and organizations. Limited enrollment. Admission by application. Students must attend first session.
Terms: Aut, Spr
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Units: 4
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Grading: Letter (ABCD/NP)
Instructors:
Siino, R. (PI)
MS&E 189: Social Networks - Theory, Methods, and Applications
Introduces students to the theoretical, substantive, and methodological foundations of social networks. The social network paradigm seeks to explain how social relations facilitate and constrain an actor¿s opportunities, behaviors, and cognitions. Topics include: network concepts and principles; network data collection, measurement, and analysis; and applications in management, engineering, and related disciplines.
Terms: Aut
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Units: 3
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Grading: Letter (ABCD/NP)
Instructors:
Lifschitz, A. (PI)
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