Courses Bachelor Display 2016-2017

Course Description To PDF
Course title Quantitative Methods III (IBE/INF)
Course code EBS2027
ECTS credits 4,0
Assessement Pass / Fail
Period
Period Start End Mon Tue Wed Thu Fri
3 16-1-2017 27-1-2017 L X X
Level Introductory
Coordinator Stan van Hoesel
For more information: s.vanhoesel@maastrichtuniversity.nl
Language of instruction English
Goals
Students learn how to:
(1) detect from a business case the decision variables, objective, and constraints of a decision problem;
(2) formulate the decision problem as a linear program;
(3) translate the mathematical program into an Excel spreadsheet and solve it with the build-in solver of Excel;
(4) identify typical patterns of mathematical programs.
Description
Linear Programming is one of the most important tools for decision making in business. It helps us whenever we want to optimize a decision under a set of constraints, like maximizing profit under limited resources, minimizing cost while satisfying demand, or deciding on an optimal financial investment plan. Two types of mathematical programming models are studied: linear programs and integer linear programs. Also, problems that have an interpretation as flows in networks are discussed. Models have to be implemented in Excel. That's why tutorial meetings take place in computer rooms.
Literature
Reader provided on Eleum
Prerequisites
Familiarity with EXCEL.
This is an obligatory skill for IBE and Infonomics students
Teaching methods PBL / Lecture / Assignment
Assessment methods Written Exam
Evaluation in previous academic year For the complete evaluation of this course please click "here"
This course belongs to the following programmes / specialisations
Bachelor Economics and Business Economics Specialisation Economics and Management of Information Compulsory Skills
Bachelor Economics and Business Economics Specialisation International Business Economics Compulsory Skills
SBE Exchange Bachelor Bachelor Exchange Skills
SBE Exchange Master Bachelor Exchange Skills
SBE Non Degree Courses Bachelor Skills