The document discusses greedy algorithms and the knapsack problem. It defines greedy algorithms as making locally optimal choices at each step to find a global optimum. The general method is described as starting with a small solution and building up, making short-sighted choices. Knapsack problems aim to fill a knapsack of size S with items of varying sizes and values, often choosing items with the highest value-to-size ratios first. The fractional knapsack problem allows items to be partially selected to maximize total value within the size limit.