MATA271 Stochastic Models (4 cr)

Study level:
Intermediate studies
Grading scale:
0-5
Language:
English, Finnish
Responsible organisation:
Department of Mathematics and Statistics
Curriculum periods:
2020-2021, 2021-2022, 2022-2023

Description

In this course we study mainly Markov chains. Besides investigating their properties, for example the behavior as time goes to infinity, we consider many applications, among them:

  • a simple weather forecast model,
  • a discrete-time share price model,
  • a model to describe the risk of cancer caused by radiation
  • random walk as a special case of a Markov chain

Finally we discuss that Markov Chain Monte Carlo methods work because there is a generalized Law of Large Numbers behind.

Learning outcomes

After the course, the student:
  • knows Markov chains and their properties
  • has studied several models where Markov chains are used
  • can decide whether a certain real world situation can be modelled by Markov chains
  • can analyze Markov chain models and derive properties for the real world situation
  • has learned about several Markov Chain Monte Carlo methods 
  • has developed his/her analyzing skills and is able to decide which models are suitable for a given real world situation and which not.

Additional information

The course is lectured in English and it can be completed also in Finnish.

Description of prerequisites

MATA280 Foundations of stochastics or TILA1200 Probability 1 or MATA2600 Basic course in probability.

Study materials

Lecture notes: C. Geiss. Stochastic modeling.

Completion methods

Method 1

Evaluation criteria:
The grade is based on the number of points in the course exam and possibly additional points from exercises. At least half of the points are needed to pass the course.
Time of teaching:
Period 4
Select all marked parts

Method 2

Evaluation criteria:
The grade is based on the number of points in the final exam. At least half of the points are needed to pass the course.
Select all marked parts
Parts of the completion methods
x

Teaching (4 cr)

Type:
Participation in teaching
Grading scale:
0-5
Language:
English, Finnish

Teaching

x

Exam (4 cr)

Type:
Exam
Grading scale:
0-5
Language:
English, Finnish
No published teaching