Department of Engineering
Dean:Dr. Ármann Gylfason
Email:ru@ru.is
Website:http://www.ru.is/tvd
TeachersView
MSc in Financial Engineering
Semesters:4
Years:2
ETCS:120
About majorFjármálaverkfræði er þverfagleg grein sem samþættir fjármálafræði við verkfræðilegar aðferðir, stærðfræðileg líkön, tölfræði, aðgerðagreiningu og hagnýta tölvunarfræði. Nám í fjármálaverkfræði hentar þeim sem hafa áhuga á t.d. áhættustýringu, afleiðuviðskiptum eða fjárstýringu. MSc námið er mótað að kröfum Verkfræðingafélags Íslands um fullnaðarmenntun í verkfræði.
Learning OutcomesView
Education cycle2
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Mandatory course on majorTeaching language
Optional course on majorPrerequisites for course
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Vorönn/Spring 2024
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Sumar/Summer 2024
More infoGraduate Research Opportunities IElectiveT-829-GRO1ECTS 6
More infoExchange StudiesElectiveX-699-EXCHECTS 30
Haustönn/Fall 2024
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Year
1. yearPrint
SemesterFall 2024
Level of course5. Second cycle, intermediate
Type of courseElective
PrerequisitesNo prerequisites.
ScheduleNo schedule found.
Lecturer
No lecturer found.
Content
The purpose of the course is that students will be able to understand and apply the basic tools of System Analaysis and System Dynamics Modelling from a practical perspective. It has the steps from mission statement, system conceptualization and the process of creating simulation models from the conceptualization using the most modern, user-friendly software available called Stella. The course focuses on the fundamental concepts of system dynamics modelling such as positive and negative feedback structures as well as causal loop diagrams. System dynamics model formulation and simulation is introduced; rate equations and auxiliary equations, delays and graphical converters. Furthermore, policy and sensitivity analysis will be discussed. The course will focus on technical, ecological and economical topics and how they are linked. However, it will also cite examples of a greater variety, such as epidemical studies, interpersonal communications and group dynamics. Practical examples will be analysed both regarding business as well as public policy. The coupling between soft systems, such as decisions and human reactions and physical systems will be trained. By the end of the course the students will hopefully agree that modelling is both fun and useful.
Learning outcome - Objectives
By the end of the course students should:  
• know how different types of complex systems and processes can be understood, analyzed, and modeled (conceptually and numerically)  
• understand different model development phases  
• be able to apply the systems approach in solving a moderately complex problem  
• learn how to critically evaluate models and their limitations (assumptions/simplifications)
• be familiar with validation of models
???????• understand how to develop a decision support tool for strategic planning
Course assessment
To be announced.
Reading material
No reading material found.
Teaching and learning activities
To be announced.
Language of instructionEnglish
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Vorönn/Spring 2025
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