Stochastics is the study of complex, randomized systems that tend to resist prediction. A broad spectrum of industries require skilled professionals that can bring clarity to the accumulating information overload, enabling everyone from doctors to financiers to make better predictions about an unknown future. Finance is often a focal point of stochastics, and there's no better place to study it than at Stevens — a stone's throw from the financial capital of the world.

About the Program 

Stochastic Systems and Optimization Master's students are provided with the theoretical foundation and computational laboratory resources to tackle pure and applied problems in mathematics, in preparation for professional career opportunities as well as further study towards a Ph.D. in Mathematics.

Students explore how phenomena, probability, and chance affect complex systems in a variety of disciplines. This program includes courses in statistics, stochastic processes, stochastic optimization, and stochastic optimal control theory. Master's students explore applications to financial systems, network design and routing, telecommunication systems, medicine, actuarial mathematics, and a number of other areas. Students are encouraged to apply the techniques they learn to problems derived from their professional work and interests.

Access to World-Class Faculty

Dr. Darinka Dentcheva

Dr. Darinka Dentcheva

Program Director Dr. Darinka Dentcheva conducts research associated with stochastic optimization models with stochastic dominance constraints and risk functions. Along with Andrzej Ruszczyski, Rutgers University, she has introduced a new type of optimization models constraining risk, which involve stochastic orders and risk functions. Her work is widely revered within the industry, and she is a frequent reviewer and panelist for the NSF and Department of Energy.

See Dr. Dentcheva's Faculty Profile

By the Numbers