Stochastic Modelling - Period 1+2

Stochastic processes and queueing models are often applied to model practical situations where uncertainty is involved. This course mainly focuses on Markov chains and queueing models. A key element is the theoretical development of such models with the emphasis on modeling and its analysis. In addition, the models are motivated by applications. More specifically, the fundamental stochastic processes and queueing models that we study are: Markov chains in discrete and continuous time, the Poisson process, the M/M/1 queue, the Erlang delay and loss model, birth-death processes, the M/G/1 queue and the waiting-time paradox.

Contact hours listed under a course description may vary due to the combination of lecture-based and independent work required for each course therefore, CEA's recommended credits are based on the ECTS credits assigned by VU Amsterdam. 1 ECTS equals 28 contact hours assigned by VU Amsterdam.