Mathematical optimization is a branch of mathematics that develops and studies analytic tools to model and solve complex optimization problems arising in real world applications. It focuses on decision problems where scarce resources need to be allocated effectively, in complex, dynamic, and uncertain conditions.
Practical examples for mathematical optimization applications include enhanced scheduling for airline crews and sports games, improved production and distribution efficiency for manufacturing companies, increased service quality and efficiency in healthcare administration, and development of sophisticated tools for finance and investments.
The Honours Mathematical Optimization plan combines a solid foundation in mathematics with special sequences of courses in economics, business, and management science. The mathematics portion of the plan includes combinatorics, linear optimization, modeling, scheduling, forecasting, decision theory, and computer simulation. Students in Mathematical Optimization must choose from one of two specializations: Operations Research Specialization or the Business Specialization.