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Mathematics for Management 2

mqant1227  2023-2024  Mons

Mathematics for Management 2
5.00 credits
45.0 h + 20.0 h
Q1
Teacher(s)
De wolf Daniel (compensates Meskens Nadine); Meskens Nadine;
Language
French
Prerequisites

The prerequisite(s) for this Teaching Unit (Unité d’enseignement – UE) for the programmes/courses that offer this Teaching Unit are specified at the end of this sheet.
Main themes
A. Analysis of real functions of several real variables (15h + 10h)
  • Real functions of several real variables;
  • Limits, continuity, differentiability;
  • Introduction to multivariate convex optimization (free and constrained);
  • Necessary conditions for optimality (Fermat's theorem) and KKT conditions.
B. Linear optimization (30h Theory + 20h Exercises)
  • Introduction to the solid geometry: vector planes, hyperplanes, affine spaces, affine hyperplanes;
  • Canonical and standard forms of a linear optimization problem;
  • Geometry of a linear optimization problem (polytopes and vertices);
  • Fundamental theorems for the existence of the solution: the alternative theorem (or Farka's lemma) and Fredholm's theorem;
  • Optimality conditions;
  • Simplex algorithm;
  • Duality theory: primal-dual solutions; dualisation technique; duality properties; complementary slackness theorem; sensitivity analysis; marginal values;
  • Examples of modeling classic business engineering and management problems as linear problems
Learning outcomes

At the end of this learning unit, the student is able to :

1 At the end of the class, the student will be able to:
  • handle matrix computing in its main applications to management;
  • model and solve an optimization problem using linear programming
 
Bibliography
SYDSTER K., SYDSAETER K., HAMMOND P. (2005), Essential Mathematics for Economic Analysis, 2nd ed., Prentice-Hall.
Teaching materials
  • Mathématiques de gestion 2, Daniel De Wolf, Presses de l'UCLouvain, 13 septembre 2023, 176 pages.
Faculty or entity
CLSM


Programmes / formations proposant cette unité d'enseignement (UE)

Title of the programme
Sigle
Credits
Prerequisites
Learning outcomes
Bachelor : Business Engineering

Bachelor in Management