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Applied Stochastic Processes

Code: MA681 | L-T-P-C: 3-0-0-6

Prerequisites: MA225/MA590 or equivalent

Review of probability theory; Discrete-time Markov chains, renewal and regenerative processes, Poisson processes, continuous-time Markov chains, martingales, Brownian motion; Application to queues, communications, finance, biology and manufacturing.


  1. R. Serfozo, Basics of Applied Stochastic Processes, Springer, 2009.
  2. M. Lefebvre, Applied Stochastic Processes, Springer, 2007.
  3. R. F. Bass, Stochastic Processes, Cambridge University Press, 2011.
  4. S. Resnick, Adventures in Stochastic Processes, Birkhauser, 1992.
  5. A. Goswami and B.V. Rao, A Course in Applied Stochastic Processes, Hindustan Book Agency, 2006.
  6. U. N. Bhat and G. K. Miller, Elements of Applied Stochastic Processes, 3rd edition, Wiley, 2002.
  7. H. J. Tijms, A First Course in Stochastic Models, Wiley, 2003.
  8. G. R. Grimmett and D. R. Stirzaker, Probability and Random Processes, 3rd edition, Oxford University Press, 2001.
  9. S. M. Ross, Stochastic Processes, 2nd edition, Wiley, 1995.