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A Specialization In Financial Systems In Systems Science And Industrial Engineering Department

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2009 Annual Conference & Exposition


Austin, Texas

Publication Date

June 14, 2009

Start Date

June 14, 2009

End Date

June 17, 2009



Conference Session

Starting the Last Day with New Ideas

Tagged Division

Industrial Engineering

Page Count


Page Numbers

14.111.1 - 14.111.11



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Paper Authors

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Nagen Nagarur State University of New York, Binghamton

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Krishnaswami Srihari State University of New York, Binghamton


Sarah Lam State University of New York, Binghamton

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Sarah S. Lam is an Associate Professor in the Systems Science and Industrial Engineering Department at the State University of New York at Binghamton. She is an Assistant Director of the Watson Institute for Systems Excellence at Binghamton. She received a B.A. (HONS) degree in quantitative analysis for business from the City University of Hong Kong, an M.S. degree in operations research from the University of Delaware, and a Ph.D. degree in industrial engineering from the University of Pittsburgh. Her current research involves adaptive optimization, data mining, stochastic simulation, and neural networks. She is a member of IIE and IEEE.

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NOTE: The first page of text has been automatically extracted and included below in lieu of an abstract

A Specialization in Financial Systems in Systems Science and Industrial Engineering Department


The role of the service sector, as a segment of economy, is increasing. This is in contrast to more traditional domains, such as manufacturing systems. Globalization is also acting as a catalyst in this transition.

Financial systems are increasingly becoming more important. Consequently, there is a significant need for our graduates to be educated for careers in the financial sector. Industrial analysis indicates that this is a three trillion dollar industry, with a significant rate of increase. Our graduates in Industrial and Systems Engineering (ISE) can excel in the financial sector by applying engineering, optimization, decision making, and statistical methods to this growing domain.

This paper addresses the design and development of a curriculum that would provide for a specialization in Financial Systems that will be housed within the Systems Science and Industrial Engineering Department at Binghamton University. In addition to courses that would be “core” for the ISE graduate program, courses that would help establish the specialization would be delineated and discussed along with electives that would help enhance the breadth and depth of a graduate student’s educational experience. The proposed curriculum could require the graduate student to take courses in the School of Management, Department of Economics, and the Mathematics and Statistics Departments. The proposed specialization would be an inter- disciplinary program with a home in the Systems Science and Industrial Engineering Department.

Graduates from this program will be equipped with skill sets that would differentiate them from those who graduate from the traditional ISE program. These graduates would be employed, for example, by the investment and banking industries, and the finance departments of typical manufacturing and service companies. A proper skill set is necessary to tackle any challenges and crises such as the current situation.


This paper describes the proposed specialization at the graduate level in Financial Systems at the Systems Science and Industrial Engineering (SSIE) Department at the State University of New York (SUNY) at Binghamton (also known as Binghamton University).

The role of financial systems in any enterprise is increasing these days because of current market conditions, opportunities and threats offered by financial systems, and liquidity crunches. The need for designing proper financial instruments and conducting an in depth analysis of risks associated with such instruments is of paramount importance for the growth of a company, and often times, even for its very existence. Keeping this in view, the SSIE department of

Nagarur, N., & Srihari, K., & Lam, S. (2009, June), A Specialization In Financial Systems In Systems Science And Industrial Engineering Department Paper presented at 2009 Annual Conference & Exposition, Austin, Texas. 10.18260/1-2--5740

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