Master of Science in Operational Research and Risk Analysis (63024)
- Programme Code63024
- Mode of StudyMixed mode
- Normal Duration1.5 years (Full-time) 3 years (Part-time)
- Required for Awards30 credits for Master Degree
Programme Aim and Objective
- To produce graduates with strong operational research, risk analysis and statistical skills and a thorough understanding of their applications in the world of modern operational research and risk analysis. The education is to develop students’ analytical, critical and communication skills which will enable them to pursue a variety of jobs related to operational research and risk analysis, in areas such as logistics service providers, retail, banking, and procurement/sourcing and supply chain functions and modern financial product development and pricing. Operational Research, Risk Analysis, Mathematics and Statistics are fundamental yet constantly developing subjects. As well as being a discipline in its own right, they form the basis of modern commercial, financial, industrial and technological activities. Mathematical / Operational Research / Statistical models underpin many aspects of operational research and risk analysis today.
- To provide a solid theoretical foundation of Operational Research, Risk Analysis and Statistics to its students, who will then be able to develop an outlook and powerful methodology that remains valuable in whatever career they pursue in the fast moving world of business, commerce, finance and insurance.
Hong Kong is a gateway between East and West. Hong Kong, as a global service centre, plays a major role in interfacing between suppliers and customers around the world. To retain its leading competitive position in serving international markets, it is crucial for Hong Kong businesses to embrace best practices in operational research. As a result, companies are increasingly looking for innovative leaders with the vision and skill to manage their logistics. Moreover, this programme helps provide graduates with training in risk analysis who can serve policy makers and institutional investors, with foci on various types of financial products such as mutual funds and hedge funds.
Graduate would be able to pursue a variety of jobs related to operational research and risk analysis, in areas such as logistics service provision, retail, banking, procurement/sourcing and supply chain functions, and modern financial product development and pricing.
- A Bachelor's degree with Honours in Engineering, Computer Science, Basic Science, Finance, Economics or the equivalent
- Industrial or business experience will be an asset
English Language Requirement:
For applicants who are not native English speakers and whose first degree qualifications are not obtained through the English medium, they are required to obtain one of the following to ensure that our admittees have reached a compatible English language standard:
- A Test of English as a Foreign Language (TOEFL) score of 80 for the Internet-based test or 550 for the paper-based test; OR
- An overall Band Score of at least 6 in the International English Language Testing System (IELTS).
As the above-mentioned qualifications are by no means exhaustive, Departments have the full discretion to accept other English qualifications as deemed equivalent for admitting applicants to their programmes.
*Updated Information can be obtained from Academic Secretariat via Study@PolyU
Non-local applicants must be registered as full-time students.
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Students must complete 7 Compulsory Subjects (21 credit) and 3 Elective Subjects (9 credits) or a Dissertation (9 credits).
Core Areas of Study
Seven Compulsory Subjects (21 credits)
- Operations Research Methods (AMA502)
- Probability and Stochastic Models (AMA528)
- Principles of Risk Analysis (AMA538)
- Financial Modeling (AMA539)
- Business Forecasting (AMA540)
- Simulation and Risk Analysis (AMA541)
- Advanced Operations Research Methods (AMA542)
Three Elective Subjects from below or a Dissertation (9 credits)
- Optimization Methods (AMA505)
- Scheduling (AMA522)
- Scientific Computing (AMA524)
- Statistical Inference (AMA529)
- Mathematics of Finance (AMA530)
- Investment Science (AMA532)
- Mathematics of Derivative Pricing (AMA535)
- Loss Models (AMA543)
- Multi-criteria Optimization (AMA544)
- Risk Analysis for Epidemics (AMA545)
- Statistical Data Mining (AMA546)
- Stochastic Optimization (AMA547)
- Supply Chain Analysis (AMA548)
- Principles of Corporate Finance (AF5312)
- Corporate Risk Management (AF5322)
- Economics for Financial Analysis (AF5341)
- Supply Chain Management (LGT5015)
List of credit-based subjects in the academic programmes offered by the Department