Problem Solving with and without Mathematics: An Idiot’s Guide to the Idiots Inside All of Us, For Business and Everything Else (Presentation Slides)

Abstract

We consider the essential elements of problem solving that will be useful from a business perspective in addition to being applicable to other areas of life. The discussion revolves around certain well-known problems from real life scenarios and a demonstration of how trial and error techniques have been used to solve these problems. We then pick simple mathematical tools that be applied to solve these problems. The idea is to understand how the intuition that all of us possess can be developed and elegant solutions can be obtained by applying simple mathematical results. The goal is to introduce to everyone (and help them develop an appreciation of) some basic mathematical techniques that can be useful towards the solving of real life problems.

This course (set of discussions) is meant to be completely self-contained and all the required concepts will be introduced and developed in the sections below. There will be topics covered from many fields including: marketing, psychology, operations, management, finance, literature, artificial intelligence, economics, physics, biology, etc. The essential requirement for reading this course is to have curiosity and a willingness to participate in the exercises with the objective of trying to find solutions independently. This course is open to people from all disciplines. The only mathematical skill required for this course is familiarity with addition.

At the end of this course, students (almost everyone in society if we define students as someone that wants to continue learning) will: Understand the importance of trial and error in solving problems. Develop an appreciation of simple mathematical tools that can complement the intuition behind solving business problems. Develop the ability to approach new problems and come up new tools that might be necessary, on their own. Comprehend how new problems keep arising in real life situations as old problems are solved and the importance of human behavior in the creation and solution of many problems. (An unintended consequence might be starting to believe that mathematics can become simple with minimal effort to understand the steps and the notation). Develop the skills to apply these techniques to business situations.

Keywords: Mathematics; Problem Solvers; Problem Creators; Logic; Intuition

JEL Classification: A2, C02; D91