Dec 22, 2024  
2012-2013 Academic Catalogue 
    
Catalog Navigation
  Catalog Home
  Correspondence
  Institute Calendar 2012-2013
  The Mission
  The Institute
  Admissions
  Costs and Payment Schedule
  Financial Aid
  The Academic Program
  The Co-Curricular Program
  Prizes, Medals, and Awards
  Institutional Information
  Reserve Officers Training Corps
  The Curricula
  Courses of Instruction
  Personnel of the Institute
  Statistics
HELP
2012-2013 Academic Catalogue [ARCHIVED CATALOG]

EC 421 - Quantitative Applications in Econ & Business

Lecture Hours: 3
Lab Hours: 0
Credit Hours: 3

Quantitative decision models are an aid to decision makers in economics and in the functional business domains of finance, operations, and marketing. Several quantitative modeling techniques are introduced in this course, including linear programming, nonlinear optimization, decision trees, simulation, and queuing models. Solution techniques using spreadsheets and add-in software are emphasized. Applications to economics include determining optimal pricing and production strategies under uncertainty for firms competing in the market structures of monopoly, monopolistic competition, and oligopoly. Prerequisite(s): EC 201 , EC 202 , and EC 303 with a grade of C or better (or equivalent probability or statistics course), or permission of instructor.