Optimisation is one of the primary techniques associated with management science and operational research. Linear programming models are used routinely in many industries, including petroleum refining and the food industry. Integer linear programming models are increasingly utilised for complex scheduling problems, such as those in the airline industry, where they have resulted in substantial cost savings.

Skills in formulating and solving applied optimisation problems are valuable for anybody interested in a career in operational research, business modelling, or consultancy. Simulation is ultimately about building computer models to study and quantify uncertainty in a system and using this to make informed decisions, which can provide the edge when making a business decision. We will focus on building and analysing discrete-event simulation models, which can be applied across a wide range of sectors, from healthcare to manufacturing and supply chains.

Supporting decision-making in organisations is at the heart of business analytics, and is important for planning. For example, it helps with predicting customer demand or understanding customer behaviour.

You will be introduced to various techniques in forecasting and predictive analytics. You will learn how to predict future demand using statistical and machine learning techniques. Additionally, you will utilise data to gain a better understanding of customers by implementing machine learning techniques.

The aim is to give you the skills necessary to develop a validated quantitative set of predictions using both statistical and machine learning methods. These skills will enable you to support specific decisions related to inventory, revenue, or marketing management, by providing accurate predictions.

This module will also enhance your programming skills in R. It is designed to improve your quantitative abilities, increase your statistical literacy, and enable you to apply forecasting and predictive analytics to real-world business challenges.

Organisations must continuously adapt and change to maintain a competitive advantage. Projects, whether viewed individually or as part of broader programmes and portfolios, serve as vehicles for configuring and implementing strategic change. They can also be used as a form of organising to bring urgency, impetus and finality to ongoing operations, a concept known as projectification. As a result, projects are common in the workplace, and project management skills are essential for career advancement and success.

This module will provide a clear and comprehensive introduction to project management. It links to professional bodies of knowledge (PMIBOK®, APMBOK®) and covers the typical project lifecycle, from project definition and planning through project monitoring and control to handover and post-project review.

Throughout the module, you will explore various relevant theories and frameworks, along with practical techniques covering the themes of project definition, project planning, project strategy, project governance, project leadership, project controls, risk management, and value management.

Gain a modern perspective on the role of technology in business and explore how technology drives organisational transformation. This module reviews both external and internal strategic factors that drive the adoption of technology within organisations and how these factors align with overall business strategy.

By the end of the module, you will understand the strategic significance of technology in business. You will learn how organisations and technology interplay and evolve in response to external and internal demands and opportunities.

This module will support your learning of how marketers and advertising agencies develop strategies to engage with their target customers. You will explore how brands use digital tools and platforms to transform the way they connect with us, and how data is used to shape campaigns, target consumers, create personalised experiences and evaluate marketing performance. You will also reflect on emerging ethical issues such as privacy, data responsibility and the social impact of digital communications.

This module is designed to enhance your strategic thinking skills. You will learn how to use games to model real-world strategic situations, and how to analyse and solve these games in scenarios where players are intelligent and rational.

The module covers:

• normal form games
• extensive form games
• Bayesian games
• games with correlation devices
• repetitive games
• behavioural games

Additionally, you will have opportunities to play these games with your instructor and classmates. A basic understanding of algebra, calculus and economics is necessary for this module.

Boost your CV by gaining international experience and earn credits towards your degree. You study abroad at a summer school at a partner university between your first and second year.

You will gain subject-specific business knowledge and experience studying in a different country and culture. You can choose from a wide selection of partner universities based on where you want to study and the subjects offered.

Some of your assessment will take place at the partner university. You will also write a reflective essay after you return to help you articulate what you have learnt during your time abroad. This will help you to link your experiences to employability for future interviews.

To complete your experience, you will participate in an online project during the semester, working with an international team of students. This project will help you develop a global mindset and build your communication skills as you work in a cross-cultural team, participating in a business game where you will complete challenges related to the global Sustainable Development Goals.

This module will enhance your knowledge in accounting and finance. You will first focus on financial accounting, exploring essential topics like the valuation of inventory and non-current assets such as machinery, buildings and land. This knowledge is critical for understanding financial statements. You will examine financial accounting in limited liability companies and sharpen your skills in analysing financial statements.

In terms of management accounting, you will learn techniques to take control of business costs and performance. You will master the art of costing through absorption and activity-based costing methods, and perfect your approach to budgetary control for planning and effective oversight.

In finance, you will cover key areas of financial markets, including traditional equity, bond and currency markets as well as modern development such as cryptocurrencies. You will also tackle the fascinating subjects of capital investment decision-making, risk and return, and calculating the cost of capital. These are essential tools to help businesses plan for a profitable future.

Explore how real-world phenomena can be understood using macroeconomic models. This module will help you understand macroeconomic data and examine the implications of economic policies in both closed and open economies.

By the end of the module, you will be able to interpret macroeconomic events and tackle macroeconomic questions using the concepts and methods presented in lectures and tutorials. We will focus on major issues related to economic growth, the causes of economic fluctuations, and the effectiveness of economic policy.

You will be introduced to key concepts from microeconomic theory and their application to consumer and firm decision-making. We begin with an overview of how firms make decisions under different market structures, different pricing structures, along with the welfare implications of these choices. Next, you will learn how consumers make decisions and how they respond to price changes.

Our focus then shifts to strategic behaviour, incorporating a game-theoretic approach. We will also cover the significance of hidden information and hidden action. Additionally, we will discuss issues related to the modern business organisation, such as various models of auctions.

Finally, you will cover topics such as externalities, public goods, rent-seeking behaviour, and related policies.

This module provides an in-depth exploration of some key contemporary marketing topics, allowing students from a wider business background to then study further strategic marketing modules. You will gain a deeper understanding of the following:

• consumers and consumer behaviour
• effective marketing communications
• the contemporary challenges facing marketers and organisations.

Many organisational recruiters have identified several key skills and areas of knowledge that they seek in prospective employees. At the top of the priorities are spreadsheet modelling, problem structuring, statistics, and project management. This module will introduce you to Microsoft Excel 2024 and the fundamentals of dynamic model building. You will learn essential skills such as:

• data handling
• filtering and analysis
• using functions
• charting

Additionally, you will cover advanced techniques such as:

• optimisation
• simulation
• utilising Visual Basic for Applications (VBA) to automate models and construct decision support models.

Throughout the module we will make extensive use of case-studies and workshop-orientated learning tasks.

Your placement takes place in the third year of your four-year degree. You will spend this year working in a graduate-level placement role.

You will be able to connect your academic learning with professional practice by using the workplace as a setting for experiential learning. You will be employed and will apply your theoretical knowledge to real-world situations. You will actively engage in workplace activities, observing and participating in actual processes.

The LUMS Placements and Internships team will support and monitor you while you are on placement.

Machine learning (ML) is critical in the process of extracting knowledge (that is patterns, relationships and insights) from complex real-world datasets. As a result, ML plays a key role in the transition from intuition-based to evidence-based decision-making.

You will be introduced to fundamental methods and tools from statistical and machine learning, covering the entire data analysis process. The module begins with setting project objectives and understanding the available data, and continues through the development and assessment of machine learning and statistical models. We will expand on concepts of statistical modelling, such as linear regression, and introduce established and cutting-edge methodologies in machine learning and artificial intelligence.

This module builds on the skills acquired in the earlier optimisation and simulation module. It will cover more advanced optimisation and simulation techniques and their application in more complex problems. The aim is to further enhance the decision-making toolkits of a business analyst for real-world applications.

The optimisation part will introduce new methods for different types of problem, while the simulation section will expand upon existing knowledge to allow more insightful analysis from simulation models.

The following topics will be covered:

• multi-objective optimisation
• goal programming
• sequential decision making
• In-depth exploration of simulation modelling
• advanced analysis of simulation models.

You will work in a scientific programming language, such as Python, developing the programming skills necessary for implementing optimisation and simulation models and conducting analysis.

This capstone module builds on key principles of project management and is an opportunity for you to apply the knowledge you have gained from previous modules. You will apply concepts from business analytics, operations management, and information systems to tackle real-world business challenges within an analytical project.??

Working in teams, you will develop and implement a project management plan with guidance from your supervisors. You will deliver a group presentation and receive formative and summative feedback, as well as submit a group report. The module enhances your collaboration, communication, and presentation skills by encouraging you to convey complex ideas clearly and professionally.

Additionally, you will strengthen your critical thinking skills through an individual reflective writing activity, where you will evaluate your experience working on the project.

By the end of the module, you will have gained practical experience in managing and delivering projects while further developing your analytical, problem-solving, and teamwork skills to prepare for future career success.

This experiential learning simulation focuses on a negotiation scenario designed to enhance your professional skills. Based on the Crossbay Contracting Game created by Adam Hindle, three health service organisations are involved in a contract negotiation, and you will act as part of the management team for one of these organisations. The main aim is to reach an agreement that is satisfactory to all three parties.

This advanced module in accounting and finance will give you the tools to navigate the complexities of modern business environments.

In financial accounting, you will explore the critical areas of disclosure and earnings management, unravelling how these practices shape perceptions of a company’s performance. You will also investigate the pivotal role of auditors and the importance of maintaining auditor independence in safeguarding financial integrity.

In management accounting we will focus on strategic management accounting, where you will learn how to align accounting strategies with broader business goals. You will also examine the recent developments in value creation, discovering how organisations generate and sustain competitive advantages.

Finally, in finance, we will delve deeper into various aspects of financial markets, as well as on capital structure and payout policy, key factors that influence how businesses fund their operations and distribute profits to shareholders.

This module builds on the techniques developed during earlier spreadsheet modelling modules. Its aim is to enhance your technical skills in Excel, improve your model design capabilities, and strengthen your VBA programming proficiency, enabling you to create effective and powerful models.

As in the previous module, case studies and real-life applications will be used to illustrate these concepts and demonstrate how value can be added to models used in management and analysis situations. You will learn general concepts about spreadsheet modelling using VBA and acquire a wide range of modelling skills which are highly relevant to management. These include structured programming, program documentation, program verification, user interface design, and general investigative modelling.

This module explores some of the most pressing issues that marketers face today. Topics might include digital transformation, sustainability, inclusivity or changing consumer values. You will be encouraged to reflect critically on the role of marketing in society and consider how your own practice can contribute to a more responsible future.

This module is designed to promote independent learning and allow you to apply the knowledge and skills from your degree to understand and analyse contemporary policy issues. You will be able to independently produce both written and verbal reports on current policy topics that are accessible to policymakers and senior managers in both the private and public sectors. The content of this module will focus on contemporary issues. In the past, topics have included:

• Is government debt a burden for future generations? What is the value of a degree?
• How are interest rates set? Business support during the pandemic: Essential support or fraud?
• How should we pay for social care? How can we help the long-term unemployed?
• What has been the impact of Brexit and Covid-19 on international trade?

This module introduces the business use and impact of information technologies (IT), with a particular focus on enterprise systems. It provides both theoretical knowledge and practical experience related to information systems within organisations, particularly how companies meet their integration needs. You will gain hands-on experience using an enterprise system, such as SAP, and managing a simulated business, like a virtual dairy company. This practical approach will help you to understand core business processes and the concept of integration.

We will also explore how digital technologies support sustainable business practices, highlighting the importance of reducing greenhouse gas emissions and the increasing pressure on companies to adopt eco-friendly strategies. You will develop Key Performance Indicators (KPIs) and dashboards to help make data-driven decisions about sustainability. You will need to manage these elements carefully to run a sustainable and profitable business, gaining practical insights into how companies can reduce their carbon footprint and improve their sustainability performance.

Supply chain management has become a significant concern for many organisations in both public and private sectors and is one of the most actively researched areas in the academic operations management community. You will explore the principles and practices of supply chain management focusing on logistics within high-volume industries like retail. Additionally, you will critically examine supply chain management, as just one manifestation of the broader issue of trans-organisational operations management.

Most of the time will be spent considering inter-organisational relationships from various perspectives, but it will also be necessary to understand how they relate to matters within the organisation. You will also consider emerging themes in supply chain management, such as service supply chains and sustainability.