| Number | Title | ECTS | Hours | Lecturers |
|---|
| 363-1004-00L | Operations Research | 3 credits | 2G | M. Laumanns,
S. Bütikofer van Oordt |
| Abstract | This course provides an introduction to operations research methods in the fields of management science and economics. Requisite mathematical concepts are introduced with a practical, problem-solving perspective. |
| Learning objective | - Introduction to building and using quantitative models in a business / industrial environment
- Introduction to basic optimization techniques (Linear Programming and extensions, network flows, integer programming, dynamic and stochastic optimization)
- Understanding the integration of quantitative models into the managerial decision process |
| Content | The following topics are covered: Systems and models, linear models and the importance of linear programming, duality theory and shadow prices, integer programming, optimization under uncertainty and applications in inventory management. |
| Lecture notes | A printed script will be made available. |
| Literature | Any standard textbook in Operations Research is a useful complement to the course. |
| Prerequisites / Notice | Undergraduate calculus, linear algebra, probability and statistics are a prerequisite. |
