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Markov Chains - Period 1+2
Business & Economics Program
Amsterdam, Netherlands
Dates: mid Aug 2024 - early Jul 2025
Markov Chains - Period 1+2
OVERVIEW
CEA CAPA Partner Institution: Vrije Universiteit Amsterdam
Location: Amsterdam, Netherlands
Primary Subject Area: Mathematics
Instruction in: English
Course Code: XB_0135
Transcript Source: Partner Institution
Course Details: Level 300
Recommended Semester Credits: 3
Contact Hours: 84
Prerequisites: Necessary background: Probability Theory, Calculus, Linear Algebra
DESCRIPTION
The first part of the course is an introduction to discrete-time Markov chains in which we treat class structure, hitting times, absorption probabilities, strong Markov property, random walks, invariant distributions, convergence to equilibrium and reversibility.
The second part of the course deals with continuous-time Markov chains, the Poisson process and embedded discrete-time Markov chains, among other things. Also we consider applications of Markov chains, such as branching processes and queueing theory.
The second part of the course deals with continuous-time Markov chains, the Poisson process and embedded discrete-time Markov chains, among other things. Also we consider applications of Markov chains, such as branching processes and queueing theory.