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It includes discrete and continuous-time Markov chains and elements of  information  theory, with applications to population dynamics, search engine design and coding theory.  The text is also complemented by a number of exercises with solutions, which makes the material   an ideal basis for an introductory teaching material to the above-mentioned topics.   The book consists of eight chapters, and an appendix discussing some useful linear algebra, calculus  and probability theory facts and results (with proofs) used throughout the text. In the first chapter, the author introduces the concept of a discrete-time Markov chain and discusses its certain structural properties. The emphasis is put on the ergodic properties and the convergence theorem for ergodic Markov chains. In the first chapter this is  treated by employing  purely probabilistic techniques (coupling method), while in Chapter 2 (in the case of Markov chains on a finite state space) it relies on linear algebra methods (Perron-Frobenius theorem). The chapter also includes an application of the ergodic theory of Markov chains to the page-rank algorithm used in search engines. In Chapter 3, the author  gradually moves to continuous-time Markov chains by first introducing and analyzing  a Poisson process. The fourth chapter is devoted to general continuous-time Markov chains and their structural properties, by again putting emphasize on the ergodic properties and the convergence theorem. Chapter 5 brings a number of examples of discrete and continuous-time Markov chains, including random walks and birth-death processes.    Chapter six opens the second part of the book, dedicated to the  information theory, first discussing some elements of convex analysis. 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