Faculty: Herman, A.
This is a professionally oriented course in model-based analysis of decision problems. Emphasis is placed on the formulation of problems as mathematical models and the most useful approaches for analyzing these models. The course blends three essential components of professional activity: theory, practice, and applications. The course is not one in mathematics, but its theory component will reveal the fundamental concepts underlying the tools and techniques that are used. The practice component of the course will provide the student with an opportunity to learn about advanced professional tools used in problem-solving at the consulting level, such as modeling languages coupled with computerized solvers. The applications element of the course will be accomplished through case studies carried out by the students and readings in the applications and modeling literature. The types of models explored involve both linear and nonlinear relationships, continuous and discrete decision variables, and network-based and dynamic model structures. The student will have the opportunity to explore applications in areas including corporate planning, finance, marketing, production and operations management, distribution, project management, and public sector and environmental management.
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