Graduate Programs
The Department of Industrial Engineering and Operations Research offers courses and M.S. programs in (1) engineering management systems, (2) financial engineering, (3) industrial engineering, and (4) operations research on either a full- or part-time basis. Graduate programs leading to a Ph.D. or Eng.Sc.D. in industrial engineering or operations research, as well as one leading to the professional degree of Industrial Engineer, are also available. In addition, the department and the Graduate School of Business offer combined M.S./M.B.A. degree programs in industrial engineering, in financial engineering, and in operations research.
All degree program applicants are required to take the Aptitude Tests of the Graduate Record Examination. M.S./M.B.A. candidates are also required to take the Graduate Management Admissions Test.
A minimum grade point average of 3.0 (B) in an undergraduate engineering program is required for admission to the M.S. and professional degree programs. Students are expected, on entry, to have completed courses in ordinary differential equations, in linear algebra, and in a programming language such as C or Java.
Engineering Management Systems
The full-time M.S. program in engineering management systems (EMS) provides students with a curriculum that emphasizes both technology and management perspectives in solving problems, making decisions, and managing risks in complex systems. Students pursuing this degree program are provided with a rigorous exposure to deterministic optimization and stochastic modeling, a basic coverate of applications in the areas of operations engineering and management, and an in-depth coverage of applications in the areas of the selected concentration. Graduates from the program are expected to assume positions as business analysts in logistics, supply chain, revenue management, and consulting firms, and as financial analysts in risk management departments of investment banks, hedge funds, and credit card and insurance firms.
The requirement for the M.S. in engineering management systems degree is ten 3-credit courses (two semesters of full-time study). The program has two concentrations: (1) logistics and supply chain optimization (LSCO) and (2) revenue and risk management (RRM).
Financial Engineering
The department offers a full-time M.S.
in financial engineering. This program is intended to provide a unique technical background for students interested in pursuing career opportunities in financial analysis and risk management. In addition to the basic requirements for graduate study, students are expected, on entry, to have attained a high level of mathematical and computer programming skills, particularly in probability, statistics, linear algebra, and the use of a programming language such as C or JAVA. Work experience is desirable but not required.
The program consists of 36 points (twelve courses), which can be taken over a twelve-month period of full-time studies, starting with a Part II six-week summer session (July 7–August 29, 2008) and ending with a Part I six-week summer session (beginning July 3, 2009) the following year. The requirements include seven required core courses and additional elective courses chosen from a variety of departments or schools at Columbia including the Graduate School of Business, International Affairs, Computer Science, Statistics, and Economics. A sample schedule is available in the department office, and on the IEOR Web site: www.ieor.columbia.edu.
The seven required core courses for the financial engineering program are IEOR E4007, IEOR E4701, IEOR E4702, IEOR E4703, IEOR E4706, IEOR E4707, and IEOR E4709.
In addition, students select two semi-core courses from a group of specialized offerings in the spring term. Electives are chosen with the approval of an adviser.
Professional Degree in Financial Engineering
The professional degree in financial engineering requires a minimum of 60 points (24 points beyond the M.S. in financial engineering at Columbia). The complete 60-point program includes (1) ten core courses as prescribed in the M.S. in financial engineering and (2) select electives in financial engineering, including advanced graduate and doctoral-level courses.
A minimum of 12 courses, providing 36 points of credit, must be financial engineering courses taken from departmental course offerings or at other institutions where advanced standing is given. A thesis is not required
Industrial Engineering
The department’s graduate programs in industrial engineering are generally intended to enable students with industrial engineering bachelor’s degrees to enhance their undergraduate training with studies in special fields such as production planning, inventory control, scheduling, and industrial economics. However, the department also offers broader master’s and professional degree programs for engineers whose undergraduate training is not in industrial engineering.
M.S. degree candidates are required to satisfy a core program of graduate courses in production management, probability theory, statistics, simulation, and operations research. Students with B.S. degrees in industrial engineering will usually have satisfied this core in their undergraduate programs. All students must take at least 18 points of graduate work in industrial engineering and at least 30 points of graduate studies at Columbia. Master’s degree programs may include concentrations in:
- engineering and management systems
- production and operations management
- manufacturing
- industrial regulation studies
Additional details regarding these concentrations are available in the department office. A thesis is not required. Students who plan post–master’s degree studies should give due consideration to the course, examination, and admission requirements of these programs.
M.S. degree programs can be taken on a part-time basis or completed in one year of full-time study.
Operations Research
The graduate program in this area is designed to enable students to concentrate their studies in methodological areas such as mathematical programming, stochastic models, and simulation. However, the department also has a broadly based master’s degree program that enables students with engineering or other undergraduate majors that include strong mathematics preparation to complete work in two terms of full-time study.
M.S. degree candidates are required to satisfy a core set of graduate courses in probability, statistics, linear programming, and simulation. All students must complete at least 18 points of operations research courses and at least 30 points of graduate work at Columbia.
The department considers it desirable that students construct balanced programs involving deterministic and stochastic models, as well as substantive areas for application.
The M.S. degree program may be constructed to include concentrations in:
- engineering and management systems
- industrial engineering
- production and operations management
- industrial regulation studies
Additional details regarding these concentrations are available in the department office. A thesis is not required. Students who plan to continue their studies beyond the master’s degree level should give due consideration to the course, examination, and grade-point requirements of doctoral programs.
The M.S. degree program can be taken on a part-time basis or completed in one year of full-time study. Students planning to complete this program in one year are expected, on entry, to have completed courses in ordinary differential equations, in linear algebra, and in a programming language such as C or Java.
Joint M.S. and M.B.A.
The joint M.S. and M.B.A. degree program offered by The Fu Foundation School of Engineering and Applied Science and the Graduate School of Business trains students interested in combining business and engineering careers. This option is available for students in the financial engineering, industrial engineering, and operations research programs.
Admission for the combined program requires filling out separate applications from both schools, meeting the requirements of both schools; admission requirements are the same as those for the regular M.S. programs and for the M.B.A. Students in the program will have advisers assigned from both schools.
For more information, please visit the department or see the departmental Web site at www.ieor.columbia.edu.
Doctoral Studies
The requirements for the Ph.D. in industrial engineering and operations research are identical. Both require the student to pass two qualifying examinations—respectively covering stochastic and deterministic models—as well as submit and defend a dissertation based on the candidate’s original research, conducted under the supervision of a faculty member. The dissertation work may be theoretical or computational or both. Doctoral students are also required to select a concentration for their studies and complete a certain amount of course work in one of the following fields: applied probability, mathematical programming, financial engineering, or supply chain management and logistics. Doctoral candidates must obtain a minimum of 60 points of formal course credit beyond the bachelor’s degree. A master’s degree from an accredited institution may be accepted as equivalent to 30 points. A minimum of 30 points beyond the master’s degree must be earned while in residence in the doctoral program. Detailed information regarding the requirements for the doctoral degree may be obtained in the department office or online at www.ieor.columbia.edu.