Quantitative Planning Methods (AGEC4108)

UNIT OF STUDY

This unit examines the use of mathematical methods and models in planning at both the individual firm level and the sector level. While the principal focus is on formal optimization, simulation and Monte Carlo methods are also discussed. Topics include non-linear programming, stochastic programming, elements of input-output analysis, computable general equilibrium analysis, dynamic problems and methods (e.g. dynamic programming and optimal control). Sectoral level planning applications considered include transportation and plant location studies; spatial equilibrium; and resource utilization across time. Firm level applications may include multi-period planning, queuing problems, inventory analysis, and replacement problems. Extensive use is made of computer-based optimization.

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Further unit of study information

Classes

(2x1hr lec & 1x2 tut/lab session)/wk, commencing week 1

Assessment

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

Faculty/department permission required?

Yes

Unit of study rules

Prerequisites and assumed knowledge

AGEC3101 or AGEC3103 or AGEC3031 or AGEC3001

Prohibitions

AGEC4008

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