Fundamentals of Operations Research

Abstract

The course handout "Fundamentals of Operations Research" has been developed as a pedagogical resource for second-year undergraduate students (License 2) in Financial and Accounting Sciences. It is designed in accordance with the official course syllabus and aims to provide a systematic and comprehensive introduction to the fundamental concepts of Operations Research, one of the most important quantitative disciplines used to support decision-making and solve complex managerial, financial, accounting, and economic problems. The handout adopts a progressive learning approach that begins with an introduction to Operations Research, its scope, applications, and methodology, before presenting the principles of linear programming, including mathematical model formulation, assumptions, and conditions. It then covers the main solution techniques, including the graphical method, the simplex method, linear programming duality, integer programming, and the transportation problem, with emphasis on both theoretical foundations and practical applications. The primary objective of this handout is to equip students with the knowledge and analytical skills required to formulate mathematical models for real-world managerial and economic problems, apply appropriate optimization techniques, and interpret the results effectively to support rational decision-making. A distinctive feature of this handout is its strong practical orientation. It includes numerous worked examples, illustrative figures, and carefully designed exercises accompanied by complete solutions, enabling students to strengthen their problem-solving abilities, develop quantitative reasoning skills, and bridge the gap between theoretical concepts and practical applications in finance, accounting, and business management. As a complementary pedagogical resource, this handout supports both lectures and tutorial sessions by providing well-structured and accessible learning material that integrates theoretical knowledge with practical problem-solving, thereby contributing to the improvement of teaching quality and student learning outcomes in the field of Operations Research.