The aim of this course is to further develop knowledge of management mathematics.
Requirements on student
written test, oral exam
Content
Mathematical modelling in economy, finance and management. Advanced problems described by non-linear difference and differential equations with constraints. Emphasis on optimal solution.
Non-linear differential equations with delays and their applications.
Continuous-time stochastic finance models.
Advanced applications to financial modelling and risk analysis, building of real application models and their analysis, production processes description, logistics and supply chain management, decision making tools.
Knowledge - students are expected to possess the following knowledge before the course commences to finish it successfully:
Units which must be passed before this unit may be attempted: KMA/MAM1 or KMA/MAM1A.
Learning outcomes
Knowledge - knowledge resulting from the course:
Students taking this course will be able to grasp the problems of management mathematics and namely
- recognize which mathematical optimization tools are appropriate and suitable for modelling given research problem
- apply these tools to practical management problems
- solve non-linear problems via abstract methods
- apply correctly formal and rigorous competency in mathematical presentation, both in written and verbal form.
Assessment methods
Knowledge - knowledge achieved by taking this course are verified by the following means:
Oral exam
Written exam
Teaching methods
Knowledge - the following training methods are used to achieve the required knowledge: