Courses Exchange Display 2020-2021
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| Course title | Quantitative Methods III (IBE/INF) | |||||||||||||||||||||||||||||||||||||||
| Course code | EBS2027 | |||||||||||||||||||||||||||||||||||||||
| ECTS credits | 4,0 | |||||||||||||||||||||||||||||||||||||||
| Assessment | Whole/Half Grades | |||||||||||||||||||||||||||||||||||||||
| Period |
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| Level | Introductory | |||||||||||||||||||||||||||||||||||||||
| Coordinator |
Stan van Hoesel For more information: s.vanhoesel@maastrichtuniversity.nl |
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| 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. |
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| 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.
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| Literature |
Reader provided on Eleum
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| Prerequisites |
Familiarity with EXCEL.
This is an obligatory skill for IBE and Infonomics students |
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| Teaching methods (indicative; course manual is definitive) | PBL / Lecture / Assignment | |||||||||||||||||||||||||||||||||||||||
| Assessment methods (indicative; course manual is definitive) | 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 |
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