LEARNING OUTCOMES
Students learn
- to analyze and develope business models for digital and service business
- quantitative modeling using simulation techniques which can be used to support management decision making in digital and service businesses, in finance, in operations management, and in logistics etc.;
- to develop their expertise in using simulation models with computers and related software, especially Excel;
- to analyze results and making decisions through assigned homework exercises and case analyses; and
- to design research.
Credits: 6
Schedule: 13.09.2021 - 28.10.2021
Teacher in charge (valid for whole curriculum period):
Teacher in charge (applies in this implementation): Tomi Seppälä
Contact information for the course (applies in this implementation):
CEFR level (valid for whole curriculum period):
Language of instruction and studies (applies in this implementation):
Teaching language: English. Languages of study attainment: English
CONTENT, ASSESSMENT AND WORKLOAD
Content
valid for whole curriculum period:
Introduction to simulation models, simulation with computers, random numbers, probability distributions, methods to simulate random events, managerial applications of risk analysis, probability theory, stochastic processes Random walk models, multivariate distributions, inventory simulation, service system simulation, forecasting
Assessment Methods and Criteria
valid for whole curriculum period:
75% exam
25% assignments
Workload
valid for whole curriculum period:
Contact teaching 36 h
Independent work 121 h
Exam 3 h
Total 160 h
DETAILS
Study Material
valid for whole curriculum period:
1. Evans, J.R. & Olson, D.L. (2002) Introduction to simulation and risk analysis (selected parts)
2. Ross, Sheldon M. (2006) Simulation (selected parts).;
3. Vose, D. (2000) Risk analysis: a quantitative guide (additional readings)
Substitutes for Courses
valid for whole curriculum period:
Prerequisites
valid for whole curriculum period:
FURTHER INFORMATION
Further Information
valid for whole curriculum period:
Teaching Period:
2020-2021 Autumn I
2021-2022 Autumn I
Course Homepage: https://mycourses.aalto.fi/course/search.php?search=30E00400
Registration for Courses: In the academic year 2021-2022, registration for courses will take place on Sisu (sisu.aalto.fi) instead of WebOodi.