The aim of this course is to introduce management mathematics.
Requirements on student
written test, oral exam
Content
Introduction to mathematical modelling in economy, finance and management. Problems described by linear difference and differential equations with constraints.
Introduction to linear differential equations with delays and their applications.
Discrete-time stochastic finance models.
Applications to financial modeling and risk analysis, model building and 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:
Students should have basic knowledge of ordinary differential equations (KMA/ODR) and of fundamentals of random processes (KMA/ZNP).
Learning outcomes
Knowledge - knowledge resulting from the course:
Students taking this course will be able to grasp the basic problems of management mathematics and namely
- recognize which mathematical models are appropriate for solving given research problems
- apply these tools to practical management problems
- solve 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: