CZECH TECHNICAL UNIVERSITY IN PRAGUE
STUDY PLANS
2024/2025

# Mathematical Economics 1

The course is not on the list Without time-table
Code Completion Credits Range Language
818ME1 Z,ZK 5 2P+2C Czech
Garant předmětu:
Lecturer:
Tutor:
Supervisor:
Department of Software Engineering
Synopsis:

The aim of this course is to provide students with a knowledge of the selected models for economics decision. The focus is put on linear models, scheduling projects and project management.

Requirements:
Syllabus of lectures:

1. Economic models and their classification - introduction

2. Formulation of mathematical programming problems with a focus on linear models

3. Transport problem and its solution: MODI method, solution under various types of restrictions

4. Degeneration, multistage transport problem

5. Assignment problem and circular problem and its solution method: Hungarian method

6. Application of graph theory in economics: finding the minimum skeleton of the graph, maximum flow of networks, searching for minimum or maximum path length in the graph.

7. Project management: CPM method

8. Project management: time cost analysis of projects, resource analysis

9. Project management: PERT method

10. Deterministic models of inventory management: EOQ, POQ

Syllabus of tutorials:

The structure of exercises is identical to lectures. Exercises are focused on typical problems from each topic.

1. Economic models and their classification - introduction

2. Formulation of mathematical programming problems with a focus on linear models

3. Transport problem and its solution: MODI method, solution under various types of restrictions

4. Degeneration, multistage transport problem

5. Assignment problem and circular problem and its solution method: Hungarian method

6. Application of graph theory in economics: finding the minimum skeleton of the graph, maximum flow of networks, searching for minimum or maximum path length in the graph.

7. Project management: CPM method

8. Project management: time cost analysis of projects, resource analysis

9. Project management: PERT method

10. Deterministic models of inventory management: EOQ, POQ

Study Objective:

Knowledge: The aim of this course is to provide students with principal methods for economic decisions

Abilities: Students wil be equipped with ability to optimally select and use an appropriate method for their decision making processes.

Study materials:

[1] Taha, H. A.. Operations Research: An Introduction, 10e. London: Pearson, 2017.

[2] Rardin, R. L.. Optimization in Operations Research, 2e. London: Pearson, 2015.

[3] Pelikán, J., Chýna, V.. Kvantitativní management. Praha: VŠE, 2011.

[4] Demel, J.. Grafy a jejich aplikace, 2e. Praha: ČVUT, 2015.

Note:
Further information:
No time-table has been prepared for this course
The course is a part of the following study plans:
Data valid to 2024-06-16
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