APP MTH 7124 - Decision Science PG

This course is focused on equipping students with simulation techniques to underpin decision making. Simulation is widely used to model systems, to evaluate risk, and to optimise objective functions, with the goal to inform decisions. Building up from uniform random generation, some of the key simulation techniques used for efficient simulation to support decision-making will be presented. Topics covered are: Uniform random number and random variable generation; random process generation; discrete-event simulation; basic statistical analysis of simulation data; variance reduction techniques; rare-event simulation; randomized optimization; applications in systems modelling, risk analysis and optimisation.