Master of Engineering

Overview

This concentration emphasizes management and engineering perspectives for solving problems, making decisions, and managing risk in complex, real-world systems. Courses in this concentration ensure that students develop a deep understanding of optimization and stochastic modeling, proficiency in the tools of management science and engineering including simulation and machine learning, and awareness of a variety of applications in relevant areas of operations management.

Required Technical Courses

At least four approved 200-level INDENG courses must be taken for letter grade, including at least one course from Group A and one course from Group B:

Group A (Optimization)

INDENG 240 Optimization Analytics*
INDENG 262A Mathematical Programming I

Group B (Stochastic Modeling)

INDENG 241 Risk Modeling, Simulation, and Data Analysis*
INDENG 263A Applied Stochastic Process I

*Primary core MEng IEOR technical courses. If you choose to take equivalent, alternative courses (listed below primary courses), please review the course descriptions and syllabi (classes.berkeley.edu). We require both the 240 and/or 241 instructor(s) AND the alternative course(s) instructor approval to enroll. Please upload faculty approval via this form.

Plus two 200-level INDENG courses from an approved list which may change from year to year.

Departmental technical comprehensive examination

Passing the departmental technical comprehensive examination is a requirement for all IEOR MEng students. The three hours written exam is administered every year during the RRR week of the Fall semester (the last instruction week of the semester). The exam is composed of two parts as follows:

Optimization (90 minutes): Based on INDENG 240 material, the exam questions focus on formulation (modeling) of optimization problems covering linear, integer, and nonlinear programming problems. Optimization Exam Sample

Stochastic Modeling (90 minutes): Based on INDENG 241 material, the exam questions focus on basics of probability theory and stochastic processes, including random variables, conditional expectation, variance and covariance, and Poisson processes. Stochastics Comp Sample

All students, regardless of their choices regarding groups A and B, are responsible for properly preparing for the comprehensive exam. A sample of questions for the exam will be available and students approved for alternative courses can audit INDENG 240 and/or INDENG 241 to prepare.

INDENG 240 (for optimization) and INDENG 241 (for stochastic modeling) are specifically designed for the IEOR MEng program. In particular, these courses provide complete preparation for the comprehensive exam. It is strongly recommended that students who didn’t have solid introductory courses in the two areas prior to enrolling in the MEng program, enroll in INDENG 240 and INDENG 241.

Recommended Informal Tracks

For guidance, we propose the following tracks. Do note the tracks listed below are not formal, unlike FinTech or Intellectual Property and Entrepreneurship Strategy, and will not be listed on the official transcript.

Decision Analytics – Provides students with a broad understanding of cutting-edge approaches to quantitative analysis and managerial decision-making applicable across a wide range of industries. Recommended Courses: any two of INDENG 220, 231, 250, 251, 252, 253, 254

Risk Management & Finance – Prepares students for careers in finance, energy, and other industries where risk management is critical. Recommended Courses: INDENG 221 and any one of INDENG 222, 224, 231

Simulation & Modeling – Prepares students for careers as analysts focusing on production and distribution systems, service systems, product or process design, or marketing in a wide range of industries. Recommended Courses: INDENG 231 and any one of INDENG 220, 250, 251, 252, 253

Career Landscape

The Master of Engineering's Career Development Team offers a wide range of specialized career management resources

MEng IEOR alumni employment information may be found here.

Contact Information

Professor Ilan Adler
Head MEng Advisor
Ph.D. Stanford University, 1970 Operations Research

Research Areas: Mathematical Programming, Computational Game Theory, Applied Probability

 

Overview

The FinTech concentration focuses on machine learning and data analytics with an emphasis on financial time series analysis. We aim to prepare you for a successful career in financial and tech companies. This skill set is especially pertinent to banks, consulting firms, financial technology, and investment firms.

The FinTech concentration differs from the Management Science & Engineering concentration in that it is focused on the Financial Industry. The FinTech concentration differs from a Master of Financial Engineering program by being more quantitative and shorter in length.

Required Technical Courses

At least one course from Group A and one course from Group B must be taken for a letter grade:

Group A (Optimization)

INDENG 240 Optimization Analytics*
INDENG 262A Mathematical Programming I

Group B (Stochastic Modeling)

INDENG 241 Risk Modeling, Simulation, and Data Analysis*
INDENG 263A Applied Stochastic Process I

*Primary core MEng IEOR technical courses. If you choose to take equivalent, alternative courses (listed below primary courses), please review the course descriptions and syllabi (classes.berkeley.edu). We require both the 240 and/or 241 instructor(s) AND the alternative course(s) instructor approval to enroll. Please upload faculty approval via this form.

At least two courses from Group C must be taken for a letter grade:

Group C (Financial Engineering)

INDENG 221 Introduction to Financial Engineering
INDENG 222 Financial Engineering Systems I
INDENG 223 Financial Engineering Systems II
INDENG 224 Portfolio and Risk Analytics (not offered 2022-2023)

Plus a preparatory FinTech-specific capstone course taken for a letter grade:

INDENG 290 Applications of Machine Learning to Electronic Markets

Additional Notes:

• The FinTech concentration requires students to complete 1 additional technical elective as compared to the general MEng IEOR track.
• Students interested in more advanced studies are recommended to take INDENG 223.

Departmental technical comprehensive examination

Passing the departmental technical comprehensive examination is a requirement for all IEOR MEng students. The three hours written exam is administered every year during the RRR week of the Fall semester (the last instruction week of the semester). The exam is composed of two parts as follows:

Optimization (90 minutes): Based on INDENG 240 material, the exam questions focus on formulation (modeling) of optimization problems covering linear, integer, and nonlinear programming problems. Optimization Exam Sample

Stochastic Modeling (90 minutes): Based on INDENG 241, the exam questions focus on basics of probability theory and stochastic processes, including random variables, conditional expectation, variance and covariance, and Poisson processes. Stochastics Exam Sample

All students, regardless of their choices regarding groups A and B, are responsible for properly preparing for the comprehensive exam. A sample of questions for the exam will be available and students approved for alternative courses can audit INDENG 240 and/or INDENG 241 to prepare.

INDENG 240 (for optimization) and INDENG 241 (for stochastic modeling) are specifically designed for the IEOR MEng program. In particular, these courses provide complete preparation for the comprehensive exam. It is strongly recommended that students who didn’t have solid introductory courses in the two areas prior to enrolling in the MEng program, enroll in INDENG 240 and INDENG 241.

Career Landscape

Industry Employers

BlackRock, JP Morgan, Google, Facebook, Goldman Sachs, JP Morgan, Citadel, Amazon, Bank of America, Bracebridge Capital, Capital Group, Duff & Phelps, First Republic Bank, Four Twenty Seven, Greensparc Inc., HSBC, Incline Investment Management, LLC, Inferess, Lending Club, Menta Capital LLC, Pluribus Labs, Sensato Investors, STOXX Limited, Stripe Inc., The Voleon Group, Uber Technologies, Unison Home, Ownership Investors (formerly FirstREX), and more.

Berkeley MEng alumni working in FinTech include:

• Alpha Strategy Researcher, BlackRock
• Credit Risk Data Analyst, Prosper Marketplace
• Data Scientist, Business Analytics, Facebook
• Data Scientist, CircleUp
• Portfolio Analytics Analyst, BlackRock
• Risk Analyst, Prosper Marketplace

Contact Information

Professor Xin Guo
Coleman Fung Chair in Financial Modeling
Ph.D. Rutgers University, 1999 Mathematics

Research Areas: Theory of stochastic controls and stochastic games, high frequency trading, applied probability and statistical learning.

Overview

How can we use science and technology to make the world a better place? What is the best way to develop and commercialize ideas for economic and social impact? How do intellectual property rights interact with entrepreneurial strategies and business models?

Managing intellectual assets is an increasing challenge in the innovation economy. While Intellectual Property management has typically been practiced by lawyers and sometimes senior business people, engineers are becoming indispensable to IP management due to increasingly complex technologies. Engineers often pick up their understanding of IP and commercialization paths while on the job or as founders of a startup. The intent of the IP and Entrepreneurship Strategy concentration is to give such engineers the necessary training before they enter the workforce or start their own venture.

Capstone partners for this concentration include government and industry organizations such as Qualcomm, the U.S. Patent & Trade Office, Lawrence Berkeley National Lab, PARC, and others.

The program opens up a broad range of future professional opportunities at the intersection of innovation, business development and technology-based disruption in knowledge-intensive organizations. Our alumni work as technology managers, business developers and analysts, management consultants, entrepreneurs and intellectual property specialists, in industry and government. Graduates are experts in their specialized technical area and capable of leading interdisciplinary teams in technology-based business settings.

Required Technical Courses

At least four approved 200-level INDENG courses must be taken for a letter grade, including:

• INDENG 242: Applications in Data Analysis
• At least one course from Group A and one course from Group B:

Group A (Optimization)

• INDENG 240 Optimization Analytics*
• INDENG 262A Mathematical Programming I

Group B (Stochastic Modeling)

• INDENG 241 Risk Modeling, Simulation, and Data Analysis*
• INDENG 263A Applied Stochastic Process I

Plus, two business electives are also required:

ENGIN 273: Intellectual Property and Innovation: Analysis, Strategy, and Management (fall)

ENGIN 274: Commercializing Science and Technology Breakthroughs (spring)

And finally, students must complete an Intellectual Property and Entrepreneurship capstone, which requires either 1) an analysis of the competitive landscape for a breakthrough patent, or 2) development of IP or Business Strategy analysis tool in prediction, natural language processing, or visualization.

*Primary core MEng IEOR technical courses. If you choose to take equivalent, alternative courses (listed below primary courses), please review the course descriptions and syllabi (classes.berkeley.edu). We require both the 240 and/or 241 instructor(s) AND the alternative course(s) instructor approval to enroll. Please upload faculty approval via this form.

Departmental technical comprehensive examination

Passing the departmental technical comprehensive examination is a requirement for all IEOR MEng students. The three hours written exam is administered every year during the RRR week of the Fall semester (the last instruction week of the semester). The exam is composed of two parts as follows:

Optimization (90 minutes): Based on INDENG 240 material, the exam questions focus on formulation (modeling) of optimization problems covering linear, integer, and nonlinear programming problems. Optimization Exam Sample

Stochastic Modeling (90 minutes): Based on INDENG 241 material, the exam questions focus on basics of probability theory and stochastic processes, including random variables, conditional expectation, variance and covariance, and Poisson processes. Stochastics Exam Sample

All students are responsible for properly preparing for the comprehensive exam. A sample of questions for the exam will be available and students approved for alternative courses can audit INDENG 240 and/or INDENG 241 to prepare.

INDENG 240 (for optimization) and INDENG 241 (for stochastic modeling) are specifically designed for the IEOR MEng program. In particular, these courses provide complete preparation for the comprehensive exam. It is strongly recommended that students who didn’t have solid introductory courses in the two areas prior to enrolling in the MEng program, enroll in INDENG 240 and INDENG 241.

Career Landscape

Graduates will find work in engineering functions, government patent offices, strategic analysis groups within business, legal, and consulting firms, and be better prepared to start their own technology and science-based firms.

Contact Information

Professor Lee Fleming
Faculty Director, Coleman Fung Institute for Engineering Leadership
Coleman Fung Chair in Engineering Leadership, IEOR

Research Areas:  Innovation, innovation strategy, intellectual property, regional industrial dynamics, technology strategy, entrepreneurship