Please note! Course description is confirmed for two academic years (1.8.2018-31.7.2020), which means that in general, e.g. Learning outcomes, assessment methods and key content stays unchanged. However, via course syllabus, it is possible to specify or change the course execution in each realization of the course, such as how the contact sessions are organized, assessment methods weighted or materials used.


The student develops a good understanding of selected specific topics in optimization. 

Credits: 6

Schedule: 21.09.2020 - 23.10.2020

Teacher in charge (valid 01.08.2020-31.07.2022): Harri Ehtamo, Risto Lahdelma, Fabricio Pinheiro de Oliveira, Antti Punkka, Ahti Salo, Kai Virtanen

Teacher in charge (applies in this implementation): Olli Herrala, Afzal Siddiqui

Contact information for the course (valid 17.08.2020-21.12.2112):

Lecturer: Afzal Siddiqui

Course Assistant: Olli Herrala

E-mail addresses: firstname.surname (at)

CEFR level (applies in this implementation):

Language of instruction and studies (valid 01.08.2020-31.07.2022):

Teaching language: English

Languages of study attainment: English


  • Valid 01.08.2020-31.07.2022:

    The topic varies and is related to some mainstream theme in optimization.

  • Applies in this implementation:

    In this course, we will learn how to:

    1. Develop mathematical models to analyse complex business situations.
    2. Implement mathematical models in appropriate software, e.g., Excel, GAMS, or MATLAB, to solve business cases.
    3. Test the validity of the model’s assumptions by performing sensitivity analysis and interpreting the findings.

Assessment Methods and Criteria
  • Valid 01.08.2020-31.07.2022:

    To be announced, depends on the course topic

  • Applies in this implementation:

    The course is assessed through a group assignment and a final examination (both graded on an 1-5 scale). Grading is based 25% on the assignment and 75% on the (take-home) exam. 

  • Applies in this implementation:

    Lectures 24h, individual work 138h. Total 162h (ECTS).


Study Material
  • Applies in this implementation:

    Recommended: Ragsdale, Cliff T. (2015), Spreadsheet Modeling & Decision Analysis: a Practical Introduction to Business Analytics, Cengage Learning, Stamford, CT, USA (ISBN: 9781285418681)

Substitutes for Courses
  • Valid 01.08.2020-31.07.2022:

    Mat-2.4144 Optimization Theory

  • Valid 01.08.2020-31.07.2022:

    MS-E2139 Nonlinear Programming or MS-E2140 Linear Programming or MS-E2148 Dynamic optimization



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