Topic outline

  • MS-E2170 - Simulation (V) D: System Dynamics - Spring 2023

    Credits5 cr
    Teaching periodIV
    Learning outcomes

    Students will learn to identify, model and understand a variety of economic, organizational and socio-technical systems through simulation. After the course, students will recognize principles of systems thinking and are able to apply them to construct a system dynamics simulation model for problem solving.


    During the course, we will discuss the analysis and control of dynamic system, model building and validation. We will also go through the basics of Vensim-software and present some practical system dynamics applications.

    Assessment methods and criteria

    Four assignments and a project work. Home assignments are given at exercise sessions, done individually and returned by next week's exercise. The project work is a simulation study conducted by a group of 1 to 3 students.

    Study material

    Sterman J.D., 2000, Business Dynamics: Systems Thinking and Modeling for a Complex World, McGraw-Hill.


    1st and 2nd year math courses.

    Grading scale


    LecturesMondays 10:15-12
    Tuesdays 10:15-12

    Wednesdays 12:15-14
    Thursdays 12:15-14

    Course Staff and Contact Information

    Lectures Prof. Risto Lahdelma
    Exercises Pengmin Hua, Zichan Xie (email: