About

Welcome to the Department of Industrial Engineering and Operations Research (IEOR) at Columbia University. The IEOR Department is the home to five disciplines including Business Analytics, Management Science & Engineering, Financial Engineering, Industrial Engineering, and Operations Research. The department is renowned for its excellence in research, practice, and academics.

What is Management Science & Engineering?

Management Science & Engineering emphasizes both technology and management perspectives in solving problems, making decisions, and managing risks in complex systems. It provides rigorous exposure to deterministic optimization and stochastic modeling, basic coverage of applications in the areas of operations engineering and management, and in-depth coverage of applications in the areas of your selected concentration. Graduates from this program usually take on positions as business analysts in logistics, supply chain, revenue management; as consultants; and as financial analysts in risk management departments of investment banks, hedge funds, and credit card and insurance firms.

 

 

What is Financial Engineering?

Financial Engineering is a multidisciplinary field that fosters familiarity with financial theory, methods of engineering, tools of mathematics, and programming. Undergraduate and graduate studies in Financial Engineering provides training in the application of engineering methodologies and quantitative methods to finance. It is designed for students desiring positions 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.

 

What is Industrial Engineering?

Industrial Engineering is concerned with the design, analysis, and control of production and service operations and systems. In the past, an industrial engineer worked in a manufacturing plant and was involved with the operating efficiency of workers and machines. Today, industrial engineers are more broadly concerned with productivity and all of the technical problems of production management and control. They work in various branches of companies: manufacturing, distribution, transportation, mercantile, and service. Their responsibilities range from the design of unit operations to controlling complete production and service systems. They integrate the physical, financial, economic, and human components of such systems to attain specified goals. Industrial engineering includes tasks like production planning and control; quality control; inventory, equipment, warehouse, and materials management; plant layout; and job and work station design. Industrial engineering programs have an illustrious history at Columbia, with the program starting in 1919 and the first class graduating in 1922.

 

What is Operations Research?

Operations Research is an applied science that is concerned with quantitative decision problems that generally involve the allocation and control of limited resources. Such problems arise, for example, in the operations of industrial firms, financial institutions, health care organizations, transportation systems, energy and resources, and government. An operations research analyst develops and uses mathematical and statistical models to help solve decision problems. Like engineers, they are problem formulators and solvers. Their work requires the formation of a mathematical model of a system and the analysis and prediction of the consequences of alternate modes of operating the system. The analysis may involve mathematical optimization techniques, probabilistic and statistical methods, experiments, and computer simulations. Operations research courses have been offered at Columbia since 1952.