Ph.D. Concentration in Risk Analysis and Decision Making

The concentration in Risk Analysis and Decision Making combines the areas of economics, decision analysis, management science, mathematics and statistics into one Ph.D. Program focused on managing financial risk. The theme of this concentration is the importance of developing "application-driven theory" in which new methods are developed in response to real-world problems. The IROM Department has an outstanding faculty in the areas of risk management, quantitative finance, decision analysis and management science with a record of research that has been accorded national and international recognition. Additional faculty involved in the concentration come from the economics, finance and mathematics departments.

There are three tracks in the concentration in the areas of decision analysis, quantitative finance and risk management. Students can choose to focus in any of these areas. Upon entering the concentration each student takes a rigorous set of core courses to develop a broad array of quantitative modeling and analysis skills as well as a thorough understanding of important concepts in microeconomics, game theory and asset pricing theory. The core courses are then followed by an in depth sequence of courses in the students chosen track. In subsequent years the student will acquire deep knowledge of a particular area while working with a faculty member in a manner that will lead to the writing of the dissertation that is an original contribution to knowledge.