The purpose of the course is to provide an understanding of the principles of simulation methods and their application to a variety of common management decision problems. On successful completion of the subject student will understand the principles of simulation techniques, appreciate the advantages and disadvantages of simulation methods, and be able to recognize business problem types that can or must be approached using simulation.

CILO-1: Review the principles of simulation techniques CILO-2: Analyze and validate simple simulations. CILO-3: Apply simulation methods to a variety of business problems using standard computer packages.