The MSc Management Science (Operational Research) programme is now hosted by the Department of Mathematics as of 2017/18, as a stand along degree entitled MSc Operations Research & Analytics - benefiting from closer links to LSE’s experts in this field. This decision was taken following an in-depth review of our programme portfolio in 2016, and follows the migration of the School’s Operations Research Faculty Group to Mathematics in August 2015.
The MSc Management Science (Decision Sciences) was not closed as a result of the programme review. However, it was suspended for 2017/18 as part of the broader restructuring within the department. As this degree equipped students with effective decision making skills at organisational level, we see significant value in making core courses currently offered on the Decision Sciences programme available as electives across our entire portfolio of MSc degrees. In addition, we are working closely with colleagues around LSE to embed decision sciences into the teaching of other departments. Graduates of this programme will continue to benefit from LSE’s growing expertise in behavioural science research and its active community.
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Programme overview
The MSc in Management Science was a one year programme which provided students with both the knowledge and experience needed to apply Management Science techniques and methods at the highest decision making levels in organisations.
The Management Science degree was built on the experience of a range of internationally renowned researchers, authors and teachers who have a proven track record in developing pioneering methods for influencing the decisions that matter in organisations.
The degree had two streams:
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Operational Research (OR) stream: this stream was oriented to finding solutions to problems experienced by organisations in the way they operate. Aspects of an organisation's environment are modelled using a variety of well-defined analytics models, which reveal solutions that would otherwise have been difficult to discover. That describes the 'harder' side of OR. The 'softer' side is concerned with messy, complex issues faced by organisations, which can benefit from problem structuring approaches that enable the stakeholders to diagnose and resolve their issues. This stream was originally delivered in collaboration with faculty from the Department of Mathematics.
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Decision Sciences (DS) stream: the focus in this stream was on helping decision makers to think more clearly about complex issues in their organisations, and on achieving committed alignment of key players. Mathematical models were used to help create alignment, but always within a carefully designed social process utilising behavioural analytics.
Both streams provided a thorough grounding in fundamental concepts and analytics methods of Management Science and enabled students to gain the skills to pursue higher degrees, or careers in commerce, industry or government in any country.
Curriculum
Under each stream students studied three compulsory core courses, and submitted a 10,000-word dissertation.
In addition students had the opportunity to customise their programme according to their own interests and career goals, and benefit from a truly interdisciplinary learning experience, by choosing optional elective courses from a range of world-leading academic departments across the LSE.
Compulsory core courses (2.5 units)
Operational Research (OR) stream courses:
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MG4C1 Techniques of Operational Research (0.5 unit).
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MG4C8 Model Building in Mathematical Programming (0.5 unit).
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MG4C5 Computer Modelling: Applied Statistics and Simulation (0.5 unit).
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Either MG4C7 Applied Management Science (1.0 unit).
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Or MG4C9 Dissertation (1.0 unit).
Decision Science (DS) stream courses:
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MG455 Behavioural Decision Science for Management and Policy (0.5 unit).
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MG456 Risk and Decision Analysis for Management and Policy (0.5 unit).
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MG4C5 Computer Modelling: Applied Statistics and Simulation (0.5 unit).
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Either MG4C7 Applied Management Science (1.0 unit).
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Or MG4C9 Dissertation (1.0 unit).
Career development
Upon graduation, MSc Management Science students were prepared to enter positions in governments, multilateral organisations, consultancies, financial institutions and other major organisations. They were also given the skills to start their own enterprises if they choose to do so. Over time, students should be able to reach senior management positions in all types of organisations.
Graduates generally found ready employment in financial institutions, consultancies, government departments, software houses and other major organisations.
Every year, LSE Careers conducts a destinations survey of LSE graduates 6 months after they have graduated. From the 2013-14 survey of Management Science graduates:
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92% were in work or further study 6 months after graduation.
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Mean salary of £40,000.