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.
