3003 Optimization Modelling in Public Sector
Content
This course builds on the optimization coverage in the core and provides the student with advanced modelling and optimization tools that can be useful in public sector. We begin by reviewing the formulation and interpretation of optimisation problems in public sector. The course provides an overview of the major types of optimisation tools including Data Envelopment Analysis (DEA), a sophisticated linear programming approach to evaluating the efficiency of similar businesses or operating units. We discuss the use of fuzzy logic in optimisation problems. Each student will analyse chosen optimisation problem and design suitable optimisation solutions. The results will be reported in a research paper.
The course topics are:
- Modelling and optimisation concept
- Core optimisation problems, the definition of the optimisation problem in public sector
- An overview of the major types of optimisation models and their applications in public sector
- Four steps of an optimisation model application procedure, problem analysis, plan, model design, solution
- Optimisation modelling software tools
- Fuzzy logic essentials
- Classical optimisation and heuristic techniques
- Data envelopment analysis
- Fuzzy optimisation models
- Interpretation of the optimisation modelling results
Objectives and competences
Students:
- independently analyses public sector organisations performance and appoints questions and issues of public sector optimisation problems,
- identify settings in which models can be used effectively and apply modelling concepts in practical situations,
- makes critical reflexion of the results and detects opportunities to enhance optimisation model and improve public sector performance.
Student is qualified:
- to translate descriptions of optimisation problems into formal models, and investigate those models in an organized fashion,
- for comparative analysis and decision making about which optimisation method is the most suitable for particular formal optimisation model,
- to build new knowledge by inductive reasoning on phenomena characteristics with the help of suitable optimisation models,
- for deductive implementation of models, critical evaluation of their practical usefulness and use of the research results to enhance the optimisation models.