Masters in Operations Research: Methods in Finance
(for students admitted prior to Summer 2007)
Department:
Industrial Engineering/Operations Research
Transcript Designation:
Masters in Operations Research: Methods in Finance (A concentration within the Operations Research Masters of Science Program)
Program Advisor(s):
Professor Guillermo Gallego, e-mail: advisor@cvn.columbia.edu (please cc: cvn@columbia.edu).
Please direct all administrative questions to the Columbia Video Network, (212) 854-6447, cvn@cvn.columbia.edu
About the Methods in Finance Program:
The Methods in Finance program is a multidisciplinary field that request familiarity with financial theory,
the methods of engineering, the tools of mathematics and the practice of programming. This program provides
training in the application of engineering methodologies and quantitative methods to finance. It is designed
for those who work in the securities, banking, and financial management and consulting industries, or as
quantitative analysts in corporate treasury and finance departments of general manufacturing and service firms.
Now, students located anywhere in the world can complete the Methods in Finance program fully remotely, via
Columbia Video Network’s distance learning program.
Admission Requirements:
Degree required for admission: A Bachelor's degree in Mathematics, Engineering, Computer Science,
Economics, Statistics, Physics, or another technical discipline from an accredited academic institution is
required for admission. Applicants should have a strong undergraduate record to be competitive for admission.
GPA required: Minimum of 3.0
GRE requirements: All applicants are required to take the general test of the Graduate Record Examination
(GRE). *GMAT exams are not accepted as part of the application process for any graduate program. The Test of
English as a Foreign Language (TOEFL) is required of all candidates from countries in which English is not the
official spoken language. In addition, candidates should provide two letters of recommendation.
Other application requirements: Two recommendation letters, transcripts, resume, and a personal-professional
statement are required. TOEFL test scores are required of all students who received their bachelor's degree
in a country where English is not the official and spoken language. All application requirements in the
Graduate Application must be completed as specified in the application. Additional information about the
application can be found
here.
Degree Requirements:
Preparatory Courses:
*APMA E3101: Linear Algebra or equivalent (Would not count towards M.S.)
*SIEO W4150: Intro to Probability & Statistics or equivalent (Would not count towards M.S.)
* Grade of A- or better would be required in this class. The Department reserves the right to administer
a test to ensure that students know the material contained in the Preparatory Classes.
Core Courses - (5 courses for a total of 15 credits)
1) IEOR E4007: Optimization Models and Methods for Financial Engineers
OR:
1) IEOR E4004: Introduction to Operations Research: Deterministic Models
2) SIEO W4606: Elementary Stochastic Processes
OR:
2) IEOR E4106: Introduction to Operations Research: Stochastic Models
(Only students who have earned the grade of B or better in the above two courses will be able to proceed
with the remainder of this program.)
3) IEOR E4700: Introduction to Financial Engineering
4) IEOR E4703: Monte Carlo Simulation (Requires an A- or better in IEOR E4106)
OR:
4) IEOR E4404: Simulation
5) IEOR E4403: Advanced Corporate Finance (Requires an A- or better in IEOR E4004)
OR:
5) IEOR E4003: Industrial Economics
Elective Courses (Choose 5/10 courses for a total of 15 credits)
IEOR E4000: Production Management
IEOR E4418: Logistics and Transportation Management
IEOR E4210: Supply Chain Management
IEOR E4407: Game Theory Models of Operation
SIEO W4801: Introduction to Property: Liability Insurance Models
IEOR E4XXX: Risk Management
SIEO W4802: Introduction to Life Insurance and Aggregate Loss Models
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IEOR E4706: FE: Discrete Time Asset Pricing
IEOR E4707: FE: Continuous Time Asset Pricing
IEOR E4709: Data Analysis for FE (IEOR E4706 is a pre-requisite class)
IEOR E4710: Term Structure Models
(The above four courses are only available to students who have taken both IEOR E4007 and SIEO W4606)