Modelling and Optimization
Objectives
Optimization techniques are based on quantitative methods, and the general goal is to find the optimal way of designing and operating a system, usually under conditions of scarcity. This course is an introduction to linear optimization and its extensions, and will be taught by example, solving real world problems from the main functional areas of business (finance, operations, resource economics and marketing) with computer software, optimization formulations and algorithms.
General characterization
Code
1307
Credits
7.5
Responsible teacher
Patrícia Xufre
Hours
Weekly - Available soon
Total - Available soon
Teaching language
English
Prerequisites
Mandatory precedence: 1303. Linear Algebra
Bibliography
Winston, W.
(2004). Operations Research, Applications and Algorithms 4th ed; International
student edition. South-Western, Cengage Learning. ISBN: 978-0-534-42362-9.
Albright, S.
Christian and Winston, Wayne L. (2012). Management Science Modeling;
International student edition. South-Western, Cengage Learning. ISBN:
978-1-111-53245-1.
Winston,
Wayne L., and Christian Albright, S. Christian (2019). Practical Management
Science, 6th Edition. South-Western, Cengage Learning. ISBN: 978-1-337-40665-9.
Hillier, F.
and Lieberman, G. (2011). Introduction to Operations Research, 11th edition,
McGraw-Hill. ISBN: 978-1-259-87299-0.
Teaching method
Two theoretical classes per week (1,5 hrs each) and one practical class per week (1,5 hrs). Some of the classes (theoretical and practical) will be
held on the computer Lab. In class excel exercises, team assignment, problem sets, midterm and final exam.
Evaluation method
There will
be a final exam worth 40% of your final grade. The remaining part of your grade
will be allocated to a Project (team of 3/4 students) (25%), one in class
excel case ( 10% ) and a midterm exam ( 25% ).
Subject matter
1. Introducing Operations Research
2. Linear Programming
3. Duality and Sensitivity Analysis
4. Transportation Problems
5. Integer Programming
6. Network Models