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Operations Research and Financial Engineering (Princeton)

HPM_twista89HPM_twista89 Posts: 235Registered User Junior Member
edited March 2011 in Engineering Majors
How much engineering part is involved in this program? I mean I would like to concentrate more on the finance part but since it is an engineering major, I assume the program will involve lots of science, right? I love math but not science.
Post edited by HPM_twista89 on

Replies to: Operations Research and Financial Engineering (Princeton)

  • GLOBALTRAVELERGLOBALTRAVELER Posts: 2,856Registered User Senior Member
    I have checked out that particular program and you have to dig deep into the web pages to find the actual MEng curriculum.

    I don't remember all 10 courses for the Master of Engineering degree, but you have to take about 4 Operations Research courses (optimization, stochastics & 2 others), 2 math courses, a stats and a few Finance courses.
  • drusbadrusba Posts: 7,986Registered User Senior Member
    Go here to see the curriculum: http://orfe.princeton.edu//index.php?option=com_content&task=view&id=51&Itemid=73

    It is a combination of business, applied math and some engineering. It should not be considered a true "engineering" program as it is not a recognized program by the Accreditation Board of Engineering and Technology. However, it appears to be a very good program for those interested in business management who will also have a leg up on many business graduates by being able to understand the technical and engineering aspects of any business.
  • toronto_guytoronto_guy Posts: 261Registered User Junior Member
    Financial engineering has nothing to do with engineering in conventional sense (civ, mech, elec) at all. Financial engineering, aka financial mathematics or computational finance is the application of very advanced mathematics to calculation and management of financial risk. There are basically two parts:The development of models and the application of models into risk management.

    Financial engineering differs from financial analysis (CFA) in that it is not concerned with the performance of companies as it is concerned with markets and price behaviour in those markets.

    Financial engineering is a very difficult field to master but one that is amply rewarded. Some say financial engineering was born in the early 1970's with the development of the Black-Scholes Model for options pricing. Do some research on the Black-Scholes model and you will see that it involves the solution of partial differential equations with the solution involving the Normal Probability Distribution.
  • HPM_twista89HPM_twista89 Posts: 235Registered User Junior Member
    thanks a lot everyone! I am still not sure which major to choose upon yet. I guess I will put economics or ORFE on the application and decide in college (well if I get accpeted:)).
  • adrianbramadrianbram Posts: 34Registered User Junior Member
    can someone tell me how to enhance my application ? I aspire for ORFE at Princeton, but I am not sure that I can get accepted there...
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