Dr Nayat Horozoglu

This course is available on the BSc in Management, International Exchange (1 Term) and International Exchange (Full Year). This course is available as an outside option to students on other programmes where regulations permit and to General Course students.

This course has a limited number of places (it is capped). Students who have this course as a compulsory course are guaranteed a place. Places for all other students are allocated on a first come first served basis.

ST107 Quantitative Methods (Statistics) or equivalent. A basic understanding and some experience of Microsoft Excel are required.

The aim of the course is to introduce students to concepts, techniques and applied aspects of the development and analysis of simulation models. The course will cover two main approaches for modelling problems bound by uncertainty (stochastic behaviour): Monte Carlo Simulation (static problems) and Discrete Event Simulation (dynamic problems). The course covers topics such as types of uncertainty, sampling methods, structuring problems for simulation, running simulation models, analysing simulation outputs, testing and validating simulation models, risk analysis using simulated models, applications of simulation.

Teaching hours in the LT will be commensurate with a usual half unit undergraduate course but note that teaching may take a different format and/or structure in 2021/22.

One formative piece of coursework will be set in LT.

The extensive lecture notes provided are the essential reading for this course. These lecture notes can be complemented with the following background readings:

• Law, AM. (2015). Simulation Modelling and Analysis (5th ed.). New York: McGraw-Hill Education.

• Pidd, M. (2004). Computer simulation in management science (5th ed.). Hoboken: Wiley.

• Robinson, S. (2014). Simulation: The Practice of Model Development and Use (2nd ed.). Basingstoke: Palgrave Macmillan.

• Vose, D. (2008). Risk analysis: A quantitative guide (3rd ed.). Chichester: Wiley.

Project (100%) in the ST.

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