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2011/2 Provisional Module Catalogue - UNDER CONSTRUCTION & SUBJECT TO CHANGE
 Module Code: ECO3002 Module Title: OPERATIONS RESEARCH
Module Provider: Economics Short Name: EC411
Level: HE3 Module Co-ordinator: WALL JR Mr (Economics)
Number of credits: 15 Number of ECTS credits: 7.5
 
Assessment Pattern
Unit(s) of Assessment 

Weighting Towards Module 
Mark (%)
2 hour Examination

70
Coursework 1

15
Coursework 2

15

Qualifying Condition(s)
A weighted aggregated mark of 40% is required to pass the module
Module Overview
The module is an introduction to the principles and the practice of model building to aid decisions in business and economics
Prerequisites/Co-requisites

None
Module Aims
The module explores solution methods for the class of optimisation problems in business and economics known as Operations Research. Different algorithms for solving each problem are considered and we make use of appropriate computer software to obtain practical solutions to problems. The emphasis is on model formulation and solution interpretation.
Learning Outcomes

By the end of the module students will:-

  • describe the different algorithms available to solve various problems
  • formulate practical problems precise as optimisation problems
  • solve small applied problems by hand
  • solve larger applied problems with the aid of a computer
Module Content

The following is an indication of the topics to be covered:-

  • Linear programming. Optimisation subject to constraints. The simplex method.
  • Transportation problems
  • Project planning and scheduling. Critical Path and PERT
  • Inventory management. Deterministic and probabilistic cases
  • Decision analysis
  • Markov analysis
Methods of Teaching/Learning
Lecturers (11)
Last Updated

10 March 2011