Applied Optimisation (AGEC3103)

UNIT OF STUDY

This unit of study deals with constrained optimization problems in which one or more constraints are inequalities. Such problems are explored/solved by "mathematical programming" techniques. The main focus of the unit is on linear programming (LP) problems, viz. problems in which the objective function and the constraint functions are all linear, and the application of LP in agricultural and other planning contexts. Topics include graphical and mathematical representation of LP problems, solution methods, solution information, stability of optimal solutions, primal and dual formulations and parametric programming. After covering the essentials of LP and its extension to integer LP, the focus shifts to modelling real world scenarios as optimization problems. Students are streamed: one group deals with specialized LP formulations (e.g. transportation model, stochastic programming). The other examines dynamic optimization for problems that involve inter-temporal resource allocation. Students develop experience and confidence in the use of spreadsheet-based optimizer routines, and with specialised optimization packages (e.g. LINDO).

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Further unit of study information

Classes

(2x1hr lec & 1x2hr tut/lab session)/wk, commencing week 1

Assessment

1x2hr exam (70%) and 2 assignments (better done one (18%), other (12%))

Faculty/department permission required?

No

Unit of study rules

Prerequisites and assumed knowledge

(AGEC2001 or AGEC2101) and (AGEC2003 or AGEC2103)

Prohibitions

AGEC3101, AGEC3001

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Cross-institutional study

If you are from another Australian tertiary institution you may be permitted to underake cross-institutional study in one or more units of study at the University of Sydney.

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