ETC4480

Optimisation for management

(BUS)

Associate Professor Ralph Snyder

7 points + Two 1.5-hour lectures per week + Second semester + Clayton + Prerequisite: ETC2480 or ETC3480 or their equivalent

Synopsis: This subject is directed to students with an interest in business analysis and business modelling. It considers tools, including the 'addin' Solver packaged with Microsoft Excel, for optimising business decisions. Students will gain enhanced modelling skills, obtained from a better understanding of the logic of optimisation methods, combined with a study of their use in solving common business problems. Methods considered include linear programming, network programming, integer linear programming, non-linear programming, dynamic programming and Markov programming for situations involving uncertainty.

Assessment: Written (assignments and exercises): 30% + Examination (2 hours): 70%