Mathematical Economics 1
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:

Mandatory reading:
[1] Taha, H. A.. Operations Research: An Introduction, 10e. London: Pearson, 2017.
[2] Rardin, R. L.. Optimization in Operations Research, 2e. London: Pearson, 2015.
Recommended reading:
[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 timetable has been prepared for this course
 The course is a part of the following study plans: