Areas of Concentration

Study at the master’s level allows a student to delve deeply into an area of interest. The program requirements in ISE are flexible enough to allow a student to tailor coursework according to future career goals. Below are some recommended areas of concentration.  It should be noted that the areas of Operations Research and Information Technology are more general, in that they teach methods in which to solve a variety of problems and implement the solutions.  The remaining areas deal more with specific applications, whether in supply chain management or finance.  These are not formal programs of study, but are sets of courses designed to help students develop a coherent and focused curriculum.  Further note that these courses are in addition to master’s program requirements.

Operations Research

Operations Research is the application of scientific methods to analyze, model, solve and control man-created or management problems, using mainly quantitative techniques. Operations research provides the decision maker either with an optimum option from among a set of feasible alternative courses of action, or with an optimum allocation of limited resources, so as to minimize or maximize a given criterion or objective function.

The distinctive aspect of operations research is to develop a model of the system, typically mathematical or simulation, incorporating measurements of factors such as chance and risk with which to predict and compare the outcomes of alternative decisions, strategies, or controls. The purpose is to help management determine its policies and actions scientifically. As systems become more complex, one must resort to sophisticated methods of quantitative analysis and optimization techniques which require a good grounding in the fundamentals of modern mathematical analysis, statistics, probability, and stochastic processes.

  • ESI 6529 Digital Simulation Techniques
  • ESI 6355 Decision Support Systems for ISEs
  • ESI 6417 Linear Programming and Network Optimization
  • ESI 6418 Linear Programming Extensions
  • ESI 6429 Introduction to Nonlinear Optimization
  • ESI 6448 Discrete Optimization Theory
  • ESI 6449 Global Optimization
  • ESI 6546 Stochastic Modeling and Analysis
  • ESI 6912 Introduction to Stochastic Optimization
  • COT 5405 Analysis of Algorithms

Information Technology

This area is focused on the implementation of solutions for Industrial and Systems Engineers.  Suggested courses include:

  • ESI 6355 Decision Support Systems for ISEs
  • ESI 6529 Digital Simulation Techniques
  • EIN 6905 Web-based Decision Support Systems for ISEs
  • COP 5536 Advanced Data Structures
  • COP 6715 Database Design and Implementation
  • COP 6726 Database System Implementation
  • COT 5405 Analysis of Algorithms

Manufacturing and Supply Chain Systems Engineering

This area is focused on the manufacturing and distribution of products and/or services.  Suggested courses include:

  • ESI 6323 Models for Supply Chain Management
  • EIN 6336 Advanced Production and Inventory Control
  • EIN 6392 Manufacturing Management
  • EIN 6470 Principles of Manufacturing Systems Engineering

Logistics and Transportation Systems Engineering

This area of Industrial and Systems Engineering is focused on the location analysis, routing and inventory control.  With regards to routing, there are a number of potential interfaces with civil engineering in traffic flow.  Suggested courses include:

  • ESI 6323 Models for Supply Chain Management
  • EIN 6336 Advanced Production and Inventory Control
  • EIN 6367 Facilities Layout and Location
  • CGN 6905 Traffic Flow Theory
  • TTE 5256 Traffic Engineering

Quality Engineering and Management

This area of Industrial and Systems Engineering is concerned with training in quantitative techniques that address the formulation and solution of engineering and/or management problems with emphasis on how to achieve high levels of quality and reliability performances while analyzing and designing these problems as system.  The philosophy of continuous improvement and the methodology for applying team problem solving techniques to manufacturing and service industries is also of concern here.  Recommended coursework includes:

  • ESI 5236 Reliability Engineering
  • ESI 6222 Statistical Quality Control
  • ESI 6529 Digital Simulation Techniques
  • EIN 6227 Advanced Quality Management & Engineering for Business Processes
  • ESI 6912 Design of Experiments for Engineers and Scientists
  • ESI 6912 Response Surface Methods
  • STA 6662 Statistical Methods for Industrial Practice

Quantitative Finance

Quantitative Finance is a fast developing field that applies advanced mathematical techniques to financial problems. This area of concentration provides students with an introduction to this field. The two main focus areas are portfolio selection and option pricing. The former illustrates the application of optimization to the selection of financial assets for a portfolio in a dynamic environment marked by uncertain prices. The latter illustrates a variety of mathematical techniques, such as stochastic simulation and partial differential equations, to price financial contracts used mostly to hedge against uncertain and unfavorable outcomes.

  • EIN 6357 Advanced Engineering Economy
  • MAP 6375 Numerical Partial Derivatives
  • MAP 6467 Stochastic Differential Equations and Filtering Theory I
  • MAP 6468 Stochastic Differential Equations and Filtering Theory II
  • STA 6208 Regression Analysis
  • STA 6857 Applied Time Series Analysis
  • FIN 5437: Finance I: Asset Valuation, Risk, and Return
  • FIN 5439: Finance II: Capital Structure and Risk Management Issues
  • FIN 6427 Measuring and Managing Value
  • FIN 6429 Financial Decision Making
  • FIN 6438 Study in Valuation
  • FIN 6537 Derivative Securities
  • FIN 6545 Fixed Income Security Valuations
  • FIN 6547 Interest Rate Risk Management
  • FIN 6638 International Finance
  • FIN 6930 Emerging Markets Finance: Part I
  • FIN 6930 Emerging Markets Finance: Part II
  • FIN 6930 Asset Allocation and Investment Strategies
  • FIN 6930 Financial Risk Management
  • FIN 6930 Special Topics in Investment Finance
  • FIN 6930 Capitalism and Regulation
  • FIN 6930 Mergers and Acquisitions
  • REE 6208 Secondary Mortgage Markets and Securities
  • REE 6395 Investment and Property Analysis
  • REE 6397 Real Estate Securities and Portfolios
  • ENT 6416 Venture Finance

Note that the business courses may be offered in non-traditional formats, such as modules that do not last for an entire semester and/or may not coincide with the traditional University calendar.  Students must follow the business school guidelines for registration as outlined here.