Inquiries can be directed to ORFE Graduate Inquiries via email or by contacting the Director of Graduate Studies.

The Department of Operations Research and Financial Engineering offers three degree programs: a one-year Master of Engineering, a typically two-year Master of Science in Engineering and a Ph.D. program. These programs provide a great deal of flexibility for students in designing individual plans of study and research according to their needs and interests. In addition, in partnership with the Department of Economics, the department is a major participant in the Master of Finance degree program offered through the Bendheim Center for Finance.

Each program is formulated to prepare the student for research and teaching. The aim is to provide a strong disciplinary background, coupled with significant competence in some area of application. The emphasis is on the conceptual foundations, mathematical models of real phenomena, and computational issues in practical problem solving.

Current teaching and research activities include probability and stochastic processes, linear and nonlinear optimization, optimal stochastic control, dynamic and stochastic programming, stochastic differential equations and stochastic flows, statistics and calibration of stochastic models, statistical signal and image analysis, trajectory optimization, dynamic resource management, transportation and equilibrium analysis. A particular area of interest is financial engineering: stochastic calculus for finance, models of stochastic volatility and insider information, statistical and computational aspects of finance, risk analysis and management.

A bachelor's degree in engineering, sciences, or mathematics is normally required for admission to the graduate program. Applicants should submit the results of the Graduate Record Examination (GRE). All applicants whose native language is not English and who have not received their undergraduate education in a U.S. college or university must submit scores from one of two internationally recognized assessments of English language proficiency, the International English Language Testing System (IELTS) or the Test of English as a Foreign Language (TOEFL).

Master of Engineering (M. Eng.)

The Master of Engineering (M. Eng.) degree program has been developed to meet the need for advanced training in the applied aspects of modern engineering. Program requirements are met by successfully completing eight graduate-level courses from a list relevant to the field. A thesis is not required. Normally, the program can be completed in one academic year of full-time study. Part-time status is available for qualified students. Financial support is usually not available.

This M. Eng. program is for students whose main interests are in operations research. A typical program of study consists of courses in statistics, stochastic calculus, optimization, and four electives. Master's projects are available as electives. Students who are primarily interested in a master's degree in financial engineering should apply to the Master of Finance degree program available through the Bendheim Center for Finance.

The program requires the completion of 8 one-semester courses. Depending on the track chosen, these include either 4,6, or 8 technical courses.

More info on M. Eng. Program from the School of Engineering and Applied Science (SEAS)

Master of Science in Engineering

This program has a strong research focus reflected in the requirement of a thesis. The course requirements are fulfilled by successfully completing ten one-semester courses, two of which are required research courses (509 and 510). The M.S.E. degree is usually completed within two academic years of full-time study. Students enrolled in this program are eligible for financial support in the form of research or teaching assistantships if such funds are available.

The ORFE department is geared towards educating students whose ultimate goal is to get a PhD.  The admission rate for masters degree is very low.   Applicants interested in a masters degree from ORFE are urged to identify and contact a faculty member in whose area of research they would like to work.  Admission will be based on not only qualifications of applicants and but also the support of at least one faculty member who expresses interest to supervise the applicants.  Applicants who are primarily interested in a master's degree in finance should apply for the Master in Finance at the Bendheim Center for Finance.

Ph.D. in Operations Research and Financial Engineering

An adviser (in the student's area of interest) is assigned to each student upon admission to the Ph.D. program. The plan of study for the first year is arranged by the student in consultation with the adviser and the department's Director of Graduate Studies. A typical plan consists of eight courses. Near the end of the first year, a student who wishes to continue as a Ph.D. candidate declares these intentions to the department. Upon readmission, a course of study is determined that provides additional preparation for the general examination. The general examination is normally taken near the end of the second year of study.

Usually, beyond the general examination, two to three years are needed for the completion of a suitable dissertation. Upon completion of theses studies and acceptance of the dissertation by the department, the candidate is admitted to the final public oral examination.