Dec 21, 2024  
2022-2023 Academic Catalog 
    
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2022-2023 Academic Catalog [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. Prerequisite(s): BU 339  and BU 310  with a grade of C or better, or permission of instructor.