Program Overview

Department of Industrial Engineering & Operations Research, IIT Bombay

About the Department

The Department of Industrial Engineering & Operations Research at IIT Bombay is a leading institution for education and research in the field of industrial engineering and operations research.

Academic Programs

• Ph.D.
• M.Sc.
• M.Sc-Ph.D.
• M.Tech
• B.Tech
• B.Tech Minor
• IDDDP
• CEP

Course Details

IE 401 / IE 802: Topics in Operations Research

This course is proposed to be offered in the July - November 2024 semester. IE 401 is the version that interested students of B.Tech/B.S./M.Sc. should register for, while IE 802 is the version that interested M.Tech/Ph.D. students should register for.

Instructors

• Narayan Rangaraj (IEOR)
• J.V.Prasad (Visiting faculty)

Topics

The following topics are planned:

• Part 1 (J.V.Prasad): Insurance models and risk management
  • Design and analysis of insurance products (both life and non-life insurance)
  • Survival models, lifetime distributions, and other concepts needed for analysis
  • Joint distributions and copulas
  • Structure of insurance products
  • Measures of risk
  • Risk management principles
  • Simulation and other techniques for analysis
  • Pricing of reinsurance
• Part 2 (Narayan Rangaraj): Operations Research and analytical models applied to sports and other areas
  • Game design (different kinds of sports, individual games, and team games)
  • Tournament design and tournament scheduling
  • Outcome analysis (deterministic and predictive)
  • Team selection and player value in team games
  • Player/team strategy in different sports
  • Principles of board game design

References

1. Loss models from data to decisions by Klugman, Panjer, and Willmot
2. Actuarial Mathematics for life contingent risks by Dikson, Hardy, and Waters
3. Curve Ball: Baseball Statistics and the Role of Chance in the Game by Jim Albert and Jay Bennett
4. Mathletics: How Gamblers, Managers, and Sports Enthusiasts Use Mathematics in Baseball, Basketball, and Football, Princeton University Press
5. Course notes

Evaluation

Students will be evaluated on a mix of quizzes, exams, and assignments. IE 802 students will have an additional course project. Class participation is compulsory.

Admissions

• Ph.D.
• M.Sc.
• M.Tech.
• B.Tech.
• FAQ - Admissions

Research

• Research Topics
• Publications
• Student Projects
• Computing
• FedEx ALFA
• TCAAI

Opportunities

• Faculty Positions
• Corporate Visitors
• Placements

News

• Past News
• Past Announcements
• Departmental convocation