Master of Science in Operational Research and Risk Analysis




What will I learn?

Programme Aims

Operational research, risk analysis, mathematics and statistics are fundamental yet constantly developing subjects. As well as being disciplines in their own right, they form the basis of modern commercial, financial, industrial and technological activities. Mathematical/operational research/statistical models underpin many aspects of operational research and risk analysis today.

The primary aim of this programme is to produce graduates with strong operational research, risk analysis and statistical skills and a thorough understanding of their applications in the world of modern operational research and risk analysis. The programme develops students’ analytical, critical and communication skills, which enables them to pursue a variety of jobs related to operational research and risk analysis, in areas such as logistics service providers, retail, banking, insurance, procurement/sourcing and supply chain functions, and modern financial product development and pricing.

The secondary aim of the programme is to provide a solid theoretical foundation of operational research, risk analysis and statistics to our students, who will then be able to develop an outlook and powerful methodology that remains valuable in whatever careers they pursue in the fast moving world of business, commerce, finance industry and insurance.


Hong Kong is a gateway between East and West. As a global service centre, it plays a major role in interfacing between suppliers and customers around the world. To retain their leading competitive position in serving international markets, it is crucial for Hong Kong businesses to embrace best practices in operational research. As a result, companies are increasingly looking for innovative leaders with the vision and skill to manage their logistics. Moreover, this programme provides training in risk analysis so that graduates can serve policy makers and institutional investors, with foci on various types of financial products such as mutual funds and hedge funds.


Programme Structure

Students must complete 7 Compulsory Subjects (21 credits), and 3 Elective Subjects (9 credits) or a Dissertation (9 credits).

Core Areas of Study

Seven Compulsory Subjects (21 credits)

  • Advanced Operations Research Methods
  • Business Forecasting
  • Financial Modeling
  • Operations Research Methods
  • Principles of Risk Analysis
  • Probability and Stochastic Models
  • Simulation and Risk Analysis

Three Elective Subjects from the following list or a Dissertation (9 credits)

  • Corporate Risk Management
  • Economics for Financial Analysis
  • Investment Science
  • Loss Models
  • Mathematics of Derivative Pricing
  • Mathematics of Finance
  • Optimization Methods
  • Principles of Corporate Finance
  • Scientific Computing
  • Statistical Data Mining
  • Statistical Inference
  • Supply Chain Management

Which department am I in?

Faculty of Science

Study options

Full Time (1.5 years)

Tuition fees
HK$152,000.00 (16,12,664) per year
HK $7,600 per credit

*Price shown is for indicative purposes, please check with institution

Start date

Expected September 2023


The Hong Kong Polytechnic University

ST305, 3/F, Ng Wing Hong Building,

Hung Hom,

Kowloon City, Hong Kong, Kowloon

Entry requirements

For students from United States

Applicants must have a Bachelor's degree from an institution that is recognized by PolyU. In addition, you must meet the entrance requirements that are specified by individual programmes. PolyU may accept equivalent qualifications. The decision is made on an individual basis. A Test of English as a Foreign Language (TOEFL) score of 80 for the Internet based test or 550 for the paper-based test; OR An overall Band Score of at least 6 in the International English Language Testing System (IELTS).

For international students

A Bachelor's degree with Honours in engineering, computer science, basic science, finance, economics or the equivalent (industrial or business experience will be an asset).

If you are not a native speaker of English, and your Bachelor's degree or equivalent qualification is awarded by institutions where the medium of instruction is not English, you are expected to fulfil the following minimum English language requirement for admission purpose, unless otherwise specified by individual programmes concerned:

A Test of English as a Foreign Language (TOEFL) score of 80 for the Internet-based test or 550 for the paper-based test; OR

An overall Band Score of at least 6 in the International English Language Testing System (IELTS).

*There may be different IELTS requirements depending on your chosen course.


About The Hong Kong Polytechnic University

PolyU ranks 65th in the QS World University Rankings and 79th in the Times Higher Education World University Rankings internationally.

  • Recognised worldwide for its academic reputation
  • Enjoys impactful research practices in different fields
  • Boasts world-class facilities
  • Welcomes international students from over 30 countries

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