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Advanced Simulation for Finance, Economics and Business - Period 4 Social Sciences & Humanities Program Spring 2025 Semester - Amsterdam

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Advanced Simulation for Finance, Economics and Business - Period 4

Advanced Simulation for Finance, Economics and Business - Period 4 Course Overview

OVERVIEW

CEA CAPA Partner Institution: Vrije Universiteit Amsterdam
Location: Amsterdam, Netherlands
Primary Subject Area: Business
Instruction in: English
Course Code: E_EOR3_ASFEB
Transcript Source: Partner Institution
Course Details: Level 300
Recommended Semester Credits: 3
Contact Hours: 84
Prerequisites: Numerical Methods (or comparable course)

DESCRIPTION

This course gives a treatment of the important aspects of advanced Monte Carlo simulation and its applications in areas such as inventory control, project planning, reliability, risk analysis, multi-agent models, and financial models. The emphasis is on modeling the stochastic dynamic system as a discrete event system, and analyzing and improving its performance by means of discrete event simulation. The topics covered include generating random numbers, variance reduction methods, Markov chain Monte Carlo methods, selecting input distributions, and model validation. The course also teaches the statistical output analysis and the use of simulation in optimization and learning.

Vrije Universiteit Amsterdam (VU Amsterdam) awards credits based on the ECTS system. Contact hours listed under a course description may vary due to the combination of lecture-based and independent work required for each course therefore, CEA's recommended credits are based on the ECTS credits assigned by VU Amsterdam. 1 ECTS equals 28 contact hours assigned by VU Amsterdam.

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