Checking date: 23/04/2024

Course: 2024/2025

Optimization and simulation for business
Bachelor in Business Administration (Plan: 395 - Estudio: 204)

Coordinating teacher: GUERRERO LOZANO, VANESA

Department assigned to the subject: Statistics Department

Type: Electives
ECTS Credits: 6.0 ECTS


Requirements (Subjects that are assumed to be known)
Mathematics Statistics
1. Knowing how to model and implement optimization methods and simulation techniques in decision-making problems in business. 2. Knowing the conditions to be satisfied by solutions of optimization problems. 3. Learn to use tools of modern optimization and simulation techniques in an efficient way.
Skills and learning outcomes
Description of contents: programme
1. Introduction Process modeling in decision-making problems 2. Optimization of linear models 2.1 Optimality 2.2 Examples: financial planning, etc.. 3. Optimization of discrete models 3.1 Optimality 3.2 Examples: project management, electricity markets, etc. 4. Otimization of non-linear models 4.1 Optimality conditions 4.2 Least-squares methods 4.3 Newton's Method 4.4 Examples: estimation of "betas" of stocks, portfolio management, etc. 5. Simulation 5.1 Examples: stock prices, overbooking, etc.
Learning activities and methodology
Theory (3 ECTS), Practice (3 ECTS). 14 lectures with supporting materials available on the Web. Another 14 practical sessions (exercises and computer labs).
Assessment System
  • % end-of-term-examination 40
  • % of continuous assessment (assigments, laboratory, practicals...) 60

Calendar of Continuous assessment

Extraordinary call: regulations
Basic Bibliography
  • 1. Winston, W.L., Albright, S. C. . Practical Management Science. Duxbury Press. 2009
Additional Bibliography
  • 2. Ragsdale C. T.. Spreadsheet Modelling and Decision Analysis . Thomson. 2005
  • 3. Lawrence, J.A., B.A. Pasternack. Applied Management Science . Wiley. 2002
  • 4. Russell, R.S. and Taylor, B. W.. Operations Management. Prentice Hall. 2003

The course syllabus may change due academic events or other reasons.