VIA 506E - Optimization and Decision Modelling

Course Objectives

I. To give students the basic concepts of decision theory, modeling and solution methods of decision making problems with applications
II. Guide the students in using different mathematical modeling techniques with OR,
III. Teach students different methods that are used for numerical decision making,
IV. Make students gain skills in finding optimal solutions to problems.

Course Description

This course aims to teach basic concepts of decision theory, modeling and solution methods of decision making problems with applications, the production and management concepts, quantitative decision making, modeling philosophy and model building, linear programming and Simplex algorithm, Big M and Two Phase Simplex Methods, Duality and economic analysis, transportation models and solving methods, and the use of Lindo and Excel Solver programs.