Analytical methods and advanced modelling

The objective of this course is to provide an overview of and training in analytical tools and advanced methods that will enhance building, analyzing, and establishing confidence in formal models of complex dynamic systems.

The course uses simulation models, exercises and case studies. It allows for practical experience in using qualitative and quantitative data to formulate and test models and for practical experience with methods that are often not (or not sufficiently) covered by classical modeling courses. Students learn to assess the usefulness of different methods for different problems in organisations.

On completion of the course, the student should have the following learning outcomes defined in terms of knowledge, skills and general competence:

Knowledge

The student

• Demonstrates understanding of advanced contemporary approaches to estimation of model parameters, validation, sensitivity analysis, and optimization

Skills

The student

• Applies relevant analytical approaches in small case studies.
• Interprets and discusses outcomes of those approaches.

General competence

The student

• Critically evaluates the relative strengths and weaknesses of different analytical and modeling approaches.
• Independently identifies appropriate analytical approaches for different problems in organizations and research.
• Conducts research and model-based analysis with a high degree of independence, responsibility, and reliability.
• Substantiates choice of approaches with reference to reliable data, evidence, or supporting argumentation.
• Participates in theoretical and practical discussions driven by critical thinking
• Accesses and interprets relevant scientific literature.
• Writes and speaks effectively about their work and relevant issues.