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, both with a grade of C or better, or permission of instructor.