AIS - Stochastic Processes and Applications (2024)

Venue: IIT, Guwahati

Dates: 13 May 2024 to 25 May 2024


Name:  Prof Subhamay Saha  Prof. Chandan Pal
Mailing Address: Assistant Professor, Department of Mathematics,
IIT Guwahati, Assam, 781039. 
Assistant Professor, Department of Mathematics,
IIT Guwahati, Assam, 781039.
Email: saha.subhamay at cpal at

Most real life phenomena evolve in a random fashion. In order to model such random evolution, we need the mathematical tool called stochastic processes. Knowledge of stochastic processes is useful for both mathematicians and engineers. In this advanced instructional school, we would like to cover the basics of some important stochastic processes and also we would like to illustrate their applications in solving real life problems. In the stochastic processes part, we plan to cover discrete time Markov chains and Poisson processes in detail. The students will be introduced to basic concepts in continuous time Markov chains and renewal processes. This will comprise of 23 lectures (approx). In the applications part the participants will learnt about Markov decision processes. Markov decision processes are widely used to analyze problems in the fields of operation research, epidemiology, mathematical finance etc. Another application area that will be covered is queueing systems. Now a days queueing systems are being used to deal with real life scenarios arising in diverse fields like computer networks, telecommunication networks and so on. This will comprise of 13 lectures (approx). This school is targeted towards first year post graduate students of science and engineering. Very basic knowledge of probability will be assumed.