This course is designed for PhD students in the field of management sciences. It will introduce fundamental stochastic models used in the management science field, including decision making under stochastic environments. Sequential decision-making via dynamic programming. Applications in inventory control, pricing strategy and finance.  Special emphasis on the effects of uncertainty in operational decision making and to the interplay between high-level financial objectives and low-level operational guidelines. This course is designed to introduce fundamental models and technical tools of solving these models to OR/OM PhD students.

Continuous Assessment: 40%

Examination: 60%

Examination Duration: 3 hours