BUS306

Course Description

ECO 201 This course presents quantitative methods necessary for decision making in business. Topics covered are: an introduction to linear programming (formulation; graphical solution, computer software for optimization, optimal solution and sensitivity analysis), extensions to specialized linear programming models of assignment, transportation, transshipment, decision theory (decision tree, expected value and utility, value function), theory of waiting lines and their economic analysis, and an introduction to computer simulation. Computers will be used to obtain solutions for these problems. Formulation and analysis of business applications will be emphasized. By the end of the course, students will, hopefully, gain enough proficiency in building mathematical models for complex business-oriented problems and solve them using the techniques learnt in class.

Course Details