In this course, students learn several basic simulation tools and develop simulation models for practical business problems. Simulations are commonly used in operations management and in network analysis. From the domain of operations management, the following applications are discussed: uncertainty in processing time durations for machine and project scheduling problems; waiting lines; uncertainty in demand distribution for inventory management problems. In the second part of the course, design, analysis and vulnerability of networks are discussed. Basic network parameters, e.g.,
degree distribution, clustering coefficients, small world property, are studied. Given a set of parameters, students design a simulation tool to mimic or to replicate real-life complex networks, e.g., social and professional networks, crypto-currency networks, supply (chain) networks.