Its foundations lie at the intersection of several disciplines, including Economics, Cognitive Psychology, Statistics, Management Science and Political Science. It is natural that it should occupy this place, as decision making is a central human activity. Management Science deals with the development and use of scientific methods to improve management problem solving and decision making, and to help plan, evaluate and control organizational behavior. Its efforts are directed to identifying and modeling complex management and technological problems using mathematical and statistical methods combined with computer implementation and software development. Risk Management deals with the quantification and analysis of risk and how it can be managed in different environments by both businesses and individuals.
Statistical analysis is a major component of almost any empirical study in the field of business.
The availability in recent years of large data sets in fields such as marketing and finance combined with the increase in computing power over the past decade has created a wealth of new opportunities for statistical research in both the development and application of statistical techniques. The statistics faculty in the MSIS Department are heavily involved in collaborative research with colleagues from functional areas such as information systems, marketing and finance and have incorporated new methods and software into their courses that have resulted from their research. These prerequisites should be satisfied prior to the completion of the core courses. The student will be required to demonstrate in his or her program of study that these requirements are met by the indicated courses or their equivalents, or else by a letter from the student s advisor explaining any discrepancies. One semester of Programming Students are expected to gain theoretical knowledge and research methodology training in quantitative methods through the five core courses.