<p>I've recently heard about this while applying for schools. even after some research, I'm still not quite sure what it is and what's it's good for. what do people who get a BA/BS in this go do after undergrad?</p>
<p>and also what are the top schools for this? So far I've seen it only at Columbia SEAS and Princeton. Are they good for operations research or is this such a rare major that one can't really rank anything?</p>
<p>It is an extremely adaptable degree. You essentially study the mathematics behind the optimization and management of processes, strategies, systems, etc. (decision theory), so any field that requires making decisions will admit ORFE training. In particular, ORFE graduates often go on to do financial work, especially in derivatives pricing, risk management, modeling, and trading / portfolio management. Management consulting is also a popular choice for ORFE majors. See here for a good list: <a href="http://orfe.princeton.edu/index.php?option=com_docman&task=doc_download&gid=3&Itemid=59%5B/url%5D">http://orfe.princeton.edu/index.php?option=com_docman&task=doc_download&gid=3&Itemid=59</a></p>
<p>Also, a good source of general information about the degree is here: Operations</a> Research & Financial Engineering - Undergraduate Curriculum</p>
<p>As for what the top schools are in this area, you can't rank them <em>per se</em>. At most schools, the courses covered by ORFE would reside primarily in both the applied mathematics and economics departments. Any school with significant strength in both of those areas will typically have a good selection of ORFE-type courses.</p>
<p>Speaking from personal experience, Princeton's ORFE program is outstanding if you're interested in going to Wall Street. Combined with courses from the Bendheim Center, you can get rigorous and comprehensive training in all aspects of modern finance. I'm sure the offerings at other schools are also terrific, but you can't go wrong choosing Princeton for ORFE.</p>
<p>Both are great programs. Cornell also offers ORIE- Operations Research and Information Engineering.</p>
<p>Vast majority of ppl in those programs are hoping to get a job on Wall Street. A few are looking at optimization in transportation (making airline routes or traffic light timings more efficent), manufacturing processes (production of goods at the lowest cost), and related job fields.</p>