Optimization methods in management science

Lectures: 2 sessions / week, 1.5 hours / session

Recitations: 1 session / week, 1.5 hours / session

This subject has no formal prerequisites.

15.053 is structured as two longer modules followed by three short modules.

See the calendar below for more details.

There is no required textbook for the subject. Students can refer to the following book, out of print but available free online, for some of the material.

Microsoft® Excel will be used frequently within 15.053. Students will be using the "Solver" Add-in that is available when Microsoft® Office or Excel is installed.

The class will use Piazza for online discussions and announcements.

Written (not spreadsheet-based)

10%

Spreadsheets

10%

Quiz 1 (practice)

0%

Quizzes 2 to 5

10% (2.5% each)

Quizzes 6 and 7

10% (5% each)

There are six problem sets. Problem sets are an important part of the learning experience, which is why they are required.

Problem sets are to be handed in individually; however, students may discuss the problems with others in the class. Copying from other students is not permitted.

Spreadsheets should also be individual work. Students may obtain help from other students. But students may not copy and paste parts of spreadsheets from other students.

There are seven quizzes. Quizzes are given at the beginning of class periods as noted on the calendar, and will be 20 to 30 minutes long. Quizzes will be based on the same material as the problem set due on the day of the quiz.

There are two midterms. The first is on linear programming; the second is on integer programming. The second midterm is not "comprehensive," but integer programming concepts do build on linear programming.

There is no final exam.

15.053 aims to teach students methods for identifying and solving optimization problems. In order to bring these concepts to life, students will be preparing group projects to identify and model a real world optimization problem. The student teams will select an actual situation and use the concepts from class to define the problem, build an optimization model, and solve it.

Final project deliverables include a 4 to 6 page team paper, a 1 page written assessment of individual learnings, and a team presentation.

Students will be provided clickers at the second lecture of the semester, which the student can keep for the entire semester. Students should bring their clickers to each class.

Class participation points will be based on the use of clickers throughout the semester.

Students may not bring another student's clicker to class.

Laptops should not be used in class, except by students who have been granted an exception to use them for notetaking only. Any other use is not permitted.

Recitation attendance is optional. Recitations will cover problems that are similar to the ones on the current problem set.

In addition, there will be a review session the night before each of the two midterms.

Key:

L = Lecture session

R = Recitation session

Geometry and visualizations of linear programs

Quiz 1: Formulations

The simplex method 2

Quiz 2: Formulations and LP geometry

Game theory 1: 2-person 0-sum, or constant sum

Quiz 3: The simplex method

Discussion of projects; slack variables vs. artificial variables

Quiz 4: Sensitivity analysis

Integer programming techniques 2: cutting planes

Quiz 5: Integer programming formulations

Problem set 5 due

Project: draft proposal due

Decision trees 1

Quiz 6: Networks

Behavioral economics 1

Quiz 7: Decision trees

Project reports

Final feedback

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