IE 550 Dynamics of Socio-Economic Systems
Use of systems thinking and system dynamics modeling methodology in the analysis of complex, dynamic socio-economic and managerial problems. Lab experiments with simulation models of real case studies ranging from ecological to business issues, from social to agricultural problems. Basic methods and tools of dynamic feedback modeling: stock-flow and causal loop diagrams, linear and non-linear equation formulation and generic structures. Use of a modern modeling/simulation software such as STELLA, VENSIM, POWERSIM. Student term projects involving applied dynamic modeling.