Course Document

Course: Optimization Techniques

MTS-330
Semester: Spring 2024
Time: Class #96163 , Tues., Thurs., 11:30AM-12:45PM (MTC-28)

Instructor: Syed Inayatullah

Email: isyed@iba.edu.pk

Counselling Tues., Thurs., 12:45PM-2:30PM (by appointment though

Hours: email)

Course Description
This course introduces undergraduate BBA students to the principles and techniques of
optimization, a key aspect of decision-making in business and operations. Students will
explore mathematical optimization models and methods to solve real-world problems.
The course emphasizes applications in operations research and dynamic systems
optimization.

Course Objectives
1. Understanding Optimization Concepts:
- Develop a solid understanding of optimization fundamentals.
- Explore mathematical models for decision-making.

2. Application in Business:
- Apply optimization techniques to solve business-related problems.
- Analyze and interpret optimization results in a business context.

3. Problem Formulation:
- Learn to formulate real-world problems as optimization models.
- Understand the importance of defining decision variables, objective functions, and
constraints.
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 4. Computational Skills:
- Develop computational skills to implement optimization algorithms.
- Utilize optimization software for problem-solving.

5. Critical Thinking and Decision Analysis:

- Enhance critical thinking skills in evaluating and selecting optimal solutions.
- Explore decision analysis in the context of optimization.

Learning Outcomes
By the end of the course, students should be able to:
1. Formulate optimization problems based on real-world scenarios.
2. Apply various optimization techniques to find optimal solutions.
3. Interpret and communicate results in a business context.
4. Utilize optimization software for practical problem-solving.
5. Apply critical thinking to assess and improve decision-making processes.

Class Meetings
Two lectures of 75 minutes every week.

Class Times
It is absolutely essential that you show up for the class before the class start time. Late
arrivals cause huge disruptions and will not be allowed. Leaving the class at random times
also follows this same rule for same reasons. The lecture is just 75 minutes long; sit tight;
we will be moving fast and will have no time for any disruptions.

Text Book
The course draws from the textbooks "Operations Research" by Hamdy A. Taha and "Optimization
of Dynamic Systems" by Sunil Kumar Agrawal, Brian C. Fabien.

Assessment Scheme
Homework Assignments: 10% of overall
Quizzes: 10% of overall
Midterm On-Campus Exam 30% of overall
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Final On-Campus Exam 50% of overall (Exam covering entire coursework)

Your numeric percentage score will be the sum of the percentages obtained in all the
assessments.
Assignments
• All the homework assignments must be submitted to https://lms.iba.edu.pk/portal
within due date. Submission through email/WhatsApp is strictly not allowed and not
acceptable, and such a submission would result in negative marks.

• https://lms.iba.edu.pk/portal will be used by the instructor to post reading material.

• Homework MUST be returned by the stipulated due date. Late submissions will not be
acceptable.

• All homework assignments will bear equal weight in points.

• You should be prepared for a short (5 to 10 minutes) quiz in every class, which could
be held at any time during the class.

• All homework assignments to be done personally, and to be turned in as pictures

of handwritten material. Your name and ERP must be prominent on every page.

• Slightest plagiarism in the homework assignments will meet with heavy penalties. In
case of any doubt the instructor will hand out a meeting appointment to the student to
explain the content or his / her position vis-a-vis the originality of the submitted work.

Academic Misconduct
• Plagiarism of any sort and manifestation will fetch a recommendation to the Controller
of Examinations for befitting action prejudiced against the student.

• During on-campus exams, the use of mobile phones, laptops, tablets, and handheld
electronics is NOT allowed during any test / exam; and detection of such a device on
the student during the exam constitutes a substantial case of academic misconduct.

• Please consult IBA’s Student Code of Conduct, and rules and policies for more
information in this regard.
• It is NOT up-to the course instructor to partake in decision making for / against the
students found involved in any academic malpractice, and the verdict of Disciplinary
Committee will be binding in such cases.

• Hounding (pestering) the instructor for grade points (marks) after tests/exams may
constitute a case of academic misconduct, and may be penalized. Therefore, any
grievance with the awarded grade points may be taken up with IBA formally according

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 to the rules and procedures of re-checking. (Consult a personnel from the office of the
Controller of Examinations for further information in this regard).

Attendance
Attending lecture is required according to IBA rules and policies. Maximum number of
absences allowed (by IBA) in a course is five (05). It is NOT up-to the course instructor to
grant attendances. Attendance will be marked ONLY once during the lecture and at a random
time during a lecture. Please ensure that you do not miss it.

Course Website
All course related materials such as lecture notes, handouts etc. will be posted on the
course website on https://lms.iba.edu.pk/portal. Homeworks will also be posted on
LMS exclusively.

Accommodation of Students with Disabilities

IBA ensures an environment that respects the dignity and worth of each student and also
supports inclusive education based on the principles of social equity, non-discrimination
(on any basis), accessibility, and collaboration. For further information on IBA’s
commitment to accommodation of students with disabilities, consult the office of Dean of
Students’ Affairs. https://osa.iba.edu.pk/

Course Overview:
Introduction to Optimization
- Overview of optimization concepts and applications
- Types of optimization problems
- Mathematical models and problem formulation

Linear Programming
- Introduction to linear programming (LP)
- LP formulation and graphical solution
- Simplex method for LP optimization
- Sensitivity analysis and interpretation of results
- Transportation Model and Its Variants
- Pert and CPM Networks
- Goal Programming

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 - Decision Analysis and Games

Nonlinear Programming
- Unconstrained Optimization
• First order optimality conditions
• Second order sufficient conditions
- Constrained Optimization
• Partition method
• Lagrange multiplier method
- Numerical Methods
• Cauchy's method
• Newton's method
• Quasi-Newton method
• Penalty function method
• Lagrange-Newton method (SQP)

Dynamic Systems Optimization

- Introduction to dynamic systems optimization
- Optimization of dynamic processes
- Case studies from "Optimization of Dynamic Systems" textbook
- Implementation of optimization algorithms

This course provides students with a strong foundation in optimization techniques and
their practical application in business decision-making processes. The focus on both
linear and nonlinear programming, as well as dynamic systems optimization, ensures a
comprehensive understanding of optimization concepts.