Operations Research (BS)

The operations research program is one of several applied science programs offered at the School. At the undergraduate level, it offers basic courses in probability, statistics, applied mathematics, simulation, and optimization as well as more professionally oriented operations research courses. The curriculum is well suited for students with an aptitude for mathematics applications.

It prepares graduates for professional employment as operations research analysts, e.g., with management consultant and financial service organizations, as well as for graduate studies in operations research or business. It is flexible enough to be adapted to the needs of future medical and law students.

Operations Research: Analytics

The analytics concentration within the operations research program seeks to train students to leverage advanced quantitative models, algorithms, and data for making actionable decisions to improve business operations. Examples include staffing and scheduling at hospitals, ride matching and pricing for on-demand car services, personalized promotions in online retail, and smarter energy consumption. Students are provided with a rigorous exposure to optimization and stochastic modeling, as well as machine learning and data analysis tools for predictive modeling and prescriptive analytics. Electives in the areas of healthcare, marketing, transportation, deep learning, and many others further enrich students with domain expertise, and provide many opportunities to work directly with data on real-world problems.

Operations Research: Engineering Management Systems 

This operations research option is designed to provide students with an understanding of contemporary technology and management. It is for students who are interested in a technical-management background rather than one in a traditional engineering field. It consists of required courses in industrial engineering and operations research, economics, business, and computer science, intended to provide a foundation for dealing with engineering and management systems problems. Elective courses are generally intended to provide a substantive core in at least one technology area and at least one management area.

Due to the flexibility of this option, it can incorporate the varied educational needs of preprofessional students interested in law, medicine, business, and finance. In addition, most students are encouraged to add a minor in economics or computer science to their standard course schedules.

Operations Research: Financial Engineering

The operations research concentration in financial engineering is designed to provide students with an understanding of the application of engineering methodologies and quantitative methods to finance. Financial engineering is a multidisciplinary field integrating financial theory with economics, methods of engineering, tools of mathematics, and practice of programming. Students graduating with this concentration are prepared to enter careers in securities, banking, financial management, and consulting industries, and fill quantitative roles in corporate treasury and finance departments of general manufacturing and service firms.

Students who are interested in pursuing the rigorous concentration in financial engineering must demonstrate proficiency in calculus, computer programming, linear algebra, ordinary differential equations, probability, and statistics. 

Operations Research Program

Students must complete a total of 128 points to graduate. An overview of the degree track in PDF format can be found here

First and Second Year Degree Track: All IEOR Degree Programs

First Year
Semester I
MATH UN1101CALCULUS I 
Choose one of the following Physics courses depending on sequence: 
PHYS UN1401 (Sequence 1)
INTRO TO MECHANICS & THERMO 
PHYS UN1601 (Sequence 2)
PHYSICS I:MECHANICS/RELATIVITY 
PHYS UN2801 (Sequence 3)
ACCELERATED PHYSICS I 
Choose one of the following Chemistry courses (taken Semester l or ll): 
GENERAL CHEMISTRY I-LECTURES 
GENERAL CHEMISTRY II-LECTURES 
2ND TERM GEN CHEM (INTENSIVE) 
INTENSVE ORGANIC CHEMISTRY 
ENGL CC1010 (taken Semester l or ll)UNIVERSITY WRITING 
ECON UN1105
ECON UN1155 (taken Semester l or ll)
PRINCIPLES OF ECONOMICS 
ENGI E1006 (taken Semester l or ll)2INTRO TO COMP FOR ENG/APP SCI 
PHED UN1001PHYSICAL EDUCATION ACTIVITIES 
ENGI E1102 (taken Semester l or ll)THE ART OF ENGINEERING 
Semester II
MATH UN1102CALCULUS II 
Choose one of the following Physics courses depending on sequence: 
PHYS UN1402 (Sequence 1)
INTRO ELEC/MAGNETSM & OPTCS 
PHYS UN1602 (Sequence 2)
PHYSICS II: THERMO, ELEC & MAG 
PHYS UN2802 (Sequence 3)
ACCELERATED PHYSICS II 
Choose one of the following Chemistry courses (taken Semester l or ll): 
GENERAL CHEMISTRY I-LECTURES 
GENERAL CHEMISTRY II-LECTURES 
2ND TERM GEN CHEM (INTENSIVE) 
INTENSVE ORGANIC CHEMISTRY 
ENGL CC1010 (taken Semester l or ll)UNIVERSITY WRITING 
ECON UN1105
ECON UN1155 (taken Semester l or ll)
PRINCIPLES OF ECONOMICS 
ENGI E1006 (taken Semester l or ll)2INTRO TO COMP FOR ENG/APP SCI 
PHED UN1002PHYSICAL EDUCATION ACTIVITIES 
ENGI E1102 (taken Semester l or ll)THE ART OF ENGINEERING 
Second Year
Semester III
APMA E2000
APMA E2001
MULTV. CALC. FOR ENGI & APP SCI 
Choose one of the following Chemistry or Physics labs: 
INTRO TO EXPERIMENTAL PHYS-LAB 
INTERMEDIATE LABORATORY WORK 
GENERAL CHEMISTRY LABORATORY 
INTENSVE GENERAL CHEMISTRY-LAB 
PHYSICL-ANALYTICL LABORATORY I 
Choose one of the following Required Nontechnical Electives: 
Literature Humanities I 
CONTEMP WESTERN CIVILIZATION I 
Global Core (3–4)
 
HUMA UN1121 or HUMA UN1123 (taken Semester lll or lV) 
IEOR E3658 (taken Semester lll or lV)PROBABILITY FOR ENGINEERS 
Semester IV
Linear algebra1 
Choose one of the following Required Nontechnical Electives: 
Literature Humanities II 
CONTEMP WESTRN CIVILIZATION II 
Global Core (3–4)
 
HUMA UN1121 or HUMA UN1123 (taken Semester lll or lV) 
IEOR E3658 (taken Semester lll or lV)PROBABILITY FOR ENGINEERS 
IEOR E20003Data Engineering with Python 
1

The linear algebra requirement may be filled by either MATH UN2010 LINEAR ALGEBRA or APMA E3101 APPLIED MATH I: LINEAR ALGEBRA or COMS W3251 COMPUTATIONAL LINEAR ALGEBRA.

2

ENGI E1006 INTRO TO COMP FOR ENG/APP SCI can be replaced by COMS W1004 PROGRAMMING IN JAVA.

3

IEOR E2000 Data Engineering with Python can be replaced by COMS W3134 Data Structures in Java and COMS W4111 INTRODUCTION TO DATABASES. Students cannot get credit for IEOR E2000 Data Engineering with Python if IEOR E2000 Data Engineering with Python is taken after COMS W3134 Data Structures in Java and COMS W4111 INTRODUCTION TO DATABASES.

Third and Fourth Year Degree Track: Operations Research

Third Year
Semester V
Required courses:1 
STOCHASTIC SYSTEMS AND APPLICATIONS 
FOUNDATIONS OF OPTIMIZATION 
STATISTICS AND DATA ANALYSIS 
Nontech Electives: (Students must complete the 27-point requirement. Please refer to https://bulletin-next.columbia.edu/columbia-engineering/undergraduate-studies/undergraduate-programs/first-year-sophomore-program/) (taken Semester V, Vl, Vll, or Vlll) 
Tech Electives (15 points) (taken Semester V, Vl, Vll, or Vlll)2 
Management Electives (3 points) (taken Semester V, Vl, Vll, or Vlll)3 
Semester VI
Required courses:1 
PRODUCTN-INVENTORY PLAN-CONTRL 
SIMULATION MODELING AND ANALYSIS 
ADVANCED OPTIMIZATION 
Nontech Electives: (Students must complete the 27-point requirement.) (taken Semester V, Vl, Vll, or Vlll) 
Tech Electives (15 points) (taken Semester V, Vl, Vll, or Vlll)2 
Management Electives (3 points) (taken Semester V, Vl, Vll, or Vlll)3 
Fourth Year
Semester VII
Required courses:4 
GAME THEOR MODELS OF OPERATION 
Nontech Electives: (Students must complete the 27-point requirement.) (taken Semester V, Vl, Vll, or Vlll) 
Tech Electives (15 points) (taken Semester V, Vl, Vll, or Vlll)5 
Management Electives (3 points) (taken Semester V, Vl, Vll, or Vlll)6 
Semester VIII
Required courses:4 
PRODUCTION SCHEDULING 
Nontech Electives: (Students must complete the 27-point requirement.) (taken Semester V, Vl, Vll, or Vlll) 
Tech Electives (15 points) (taken Semester V, Vl, Vll, or Vlll)5 
Management Electives (3 points) (taken Semester V, Vl, Vll, or Vlll)6 
1

Taking required courses later than the prescribed semester is not permitted.

2

15 points total. At least 6 points need to be at least 3000 level with the prefix IEOR, ORCS, or CSOR. The complete list is available at ieor.columbia.edu/undergraduate/electives.

3

3 points total. Cannot double-count non-technical electives. The complete list is available at ieor.columbia.edu/undergraduate/electives.

Third and Fourth Year Degree Track: Operations Research: Analytics 

Third Year
Semester V
Required courses:1 
STOCHASTIC SYSTEMS AND APPLICATIONS 
FOUNDATIONS OF OPTIMIZATION 
STATISTICS AND DATA ANALYSIS 
Data Analytics & Machine Learning for OR 
Nontech Electives: (Students must complete the 27-point requirement.) (taken Semester V, Vl, Vll, or Vlll) 
Tech Electives (15 points) (taken Semester V, Vl, Vll, or Vlll)2 
Management Electives (3 points) (taken Semester V, Vl, Vll, or Vlll)3 
Semester VI
Required courses:1 
SIMULATION MODELING AND ANALYSIS 
ADVANCED OPTIMIZATION 
BUSINESS ANALYTICS 
Policy for Privacy Technologies 
Nontech Electives: (Students must complete the 27-point requirement.) (taken Semester V, Vl, Vll, or Vlll) 
Tech Electives (15 points) (taken Semester V, Vl, Vll, or Vlll)2 
Management Electives (3 points) (taken Semester V, Vl, Vll, or Vlll)3 
Fourth Year
Semester VII
Nontech Electives: (Students must complete the 27-point requirement.) (taken Semester V, Vl, Vll, or Vlll) 
Tech Electives (15 points) (taken Semester V, Vl, Vll, or Vlll)5 
Management Electives (3 points) (taken Semester V, Vl, Vll, or Vlll)6 
Semester VIII
Nontech Electives: (Students must complete the 27-point requirement.) (taken Semester V, Vl, Vll, or Vlll) 
Tech Electives (15 points) (taken Semester V, Vl, Vll, or Vlll)5 
Management Electives (3 points) (taken Semester V, Vl, Vll, or Vlll)6 
1

Taking required courses later than the prescribed semester is not permitted.

2

15 points total. At least 6 points need to be at least 3000 level with the prefix IEOR, ORCS, or CSOR. The complete list is available at ieor.columbia.edu/undergraduate/electives.

3

3 points total. Cannot double-count non-technical electives. The complete list is available at ieor.columbia.edu/undergraduate/electives.

 Third and Fourth Year Degree Track: Operations Research Program: Engineering Management Systems

Third Year
Semester V
Required courses:1 
STOCHASTIC SYSTEMS AND APPLICATIONS 
FOUNDATIONS OF OPTIMIZATION 
STATISTICS AND DATA ANALYSIS 
Nontech Electives: (Students must complete the 27-point requirement.) (taken Semester V, Vl, Vll, or Vlll) 
Tech Electives (12 points) (taken Semester V, Vl, Vll, or Vlll)2 
Management Electives (6 points) (taken Semester V, Vl, Vll, or Vlll)3 
Semester VI
Required courses:1 
PRODUCTN-INVENTORY PLAN-CONTRL 
SIMULATION MODELING AND ANALYSIS 
ADVANCED OPTIMIZATION 
Nontech Electives: (Students must complete the 27-point requirement.) (taken Semester V, Vl, Vll, or Vlll) 
Tech Electives (12 points) (taken Semester V, Vl, Vll, or Vlll)2 
Management Electives (6 points) (taken Semester V, Vl, Vll, or Vlll)3 
Fourth Year
Semester VII
Required courses:1 
CORPORATE FINANCE FOR ENGINEERS 
Nontech Electives: (Students must complete the 27-point requirement.) (taken Semester V, Vl, Vll, or Vlll) 
Tech Electives (12 points) (taken Semester V, Vl, Vll, or Vlll)5 
Management Electives (6 points) (taken Semester V, Vl, Vll, or Vlll)6 
Semester VIII
Required courses:1 
MANAG TECH INNOV & ENTREPRENEURSHIP 
Nontech Electives: (Students must complete the 27-point requirement.) (taken Semester V, Vl, Vll, or Vlll) 
Tech Electives (12 points) (taken Semester V, Vl, Vll, or Vlll)5 
Management Electives (6 points) (taken Semester V, Vl, Vll, or Vlll)6 
1

Taking required courses later than the prescribed semester is not permitted.

2

12 points total. At least 6 points need to be at least 3000 level with the prefix IEOR, ORCS, or CSOR. The complete list is available at ieor.columbia.edu/undergraduate/electives.

3

6 points total. Cannot double-count non-technical electives. The complete list is available at ieor.columbia.edu/undergraduate/electives.

Third and Fourth Year Degree Track: Operations Research Program: Financial Engineering

Third Year
Semester V
Required courses:4 
STOCHASTIC SYSTEMS AND APPLICATIONS 
FOUNDATIONS OF OPTIMIZATION 
CORPORATE FINANCE FOR ENGINEERS 
STATISTICS AND DATA ANALYSIS 
Nontech Electives: (Students must complete the 27-point requirement.) (taken Semester V, Vl, Vll, or Vlll) 
Tech Electives (15 points) (taken Semester V, Vl, Vll, or Vlll)2 
Management Electives (3 points) (taken Semester V, Vl, Vll, or Vlll)3 
Semester VI
Required courses:1 
SIMULATION MODELING AND ANALYSIS 
ADVANCED OPTIMIZATION 
INTRO TO FINANCIAL ENGINEERING 
Nontech Electives: (Students must complete the 27-point requirement.) (taken Semester V, Vl, Vll, or Vlll) 
Tech Electives (15 points) (taken Semester V, Vl, Vll, or Vlll)2 
Management Electives (3 points) (taken Semester V, Vl, Vll, or Vlll)3 
Fourth Year
Semester VII
Required courses:1 
APPLICATIONS PROGRAMMNG FOR FE 
Nontech Electives: (Students must complete the 27-point requirement.) (taken Semester V, Vl, Vll, or Vlll) 
Tech Electives (15 points) (taken Semester V, Vl, Vll, or Vlll)5 
Management Electives (3 points) (taken Semester V, Vl, Vll, or Vlll)6 
Semester VIII
Nontech Electives: (Students must complete the 27-point requirement.) (taken Semester V, Vl, Vll, or Vlll) 
Tech Electives (15 points) (taken Semester V, Vl, Vll, or Vlll)5 
Management Electives (3 points) (taken Semester V, Vl, Vll, or Vlll)6 
1

Taking required courses later than the prescribed semester is not permitted.

2

15 points total. At least 3 points need to be at least 3000 level with the prefix IEOR, ORCS, or CSOR. The complete list is available at ieor.columbia.edu/undergraduate/electives.

3

3 points total. Cannot double-count non-technical electives. The complete list is available at ieor.columbia.edu/undergraduate/electives.

IEOR Technical Electives

CSOR W4231ANALYSIS OF ALGORITHMS I
CSOR E4231ANALYSIS OF ALGORITHMS I
CSOR E4223
EEOR E6616CONVEX OPTIMIZATION
IEOR E3402PRODUCTN-INVENTORY PLAN-CONTRL
IEOR E3700Research Immersion in OR and Data Analytics
IEOR E4008COMPUTATION DISCRETE OPT
IEOR E4010Artificial Intelligence for OR and FE
IEOR E4108SUPPLY CHAIN ANALYTICS
IEOR E4212Data Analytics & Machine Learning for OR
IEOR E4405PRODUCTION SCHEDULING
IEOR E4407GAME THEOR MODELS OF OPERATION
IEOR E4418TRANSPORTATION ANALYTICS & LOGISTICS
IEOR E4500APPLICATIONS PROGRAMMNG FOR FE
IEOR E4525MACHINE LEARNING FE & OPR
IEOR E4526ANALYTICS ON THE CLOUD
IEOR E4530TOPICS IN OPERATIONS RESEARCH
IEOR E4540DATA MINING
IEOR E4544Statistical Methods for Analytics
IEOR E4544Statistical Methods for Analytics
IEOR E4572TOPICS IN OPERATIONS RESEARCH
IEOR E4601DYNAMIC PRICING/REVENUE MGMT
IEOR E4602QUANTITATIVE RISK MANAGEMENT
IEOR E4620PRICING MODELS FOR FIN ENGIN
IEOR E4630ASSET ALLOCATION
IEOR E4650BUSINESS ANALYTICS
IEOR E4700INTRO TO FINANCIAL ENGINEERING
IEOR E4704Foundations of Financial Technology
IEOR E4709STATISTICAL ANALYSIS AND TIME SERIES
IEOR E4709STATISTICAL ANALYSIS AND TIME SERIES
IEOR E4718INTRO-IMPLIED VOLATILITY SMILE
IEOR E4731CREDIT RISK/CREDIT DERIVATIVES
IEOR E4732COMPUT METHODS IN FINANCE
IEOR E4733ALGORITHMIC TRADING
IEOR E4735STRUCTURED&HYBRID PRODUCTS
IEOR E4737AI Applications in Finance
IEOR E4742Deep Learning for OR and FE
IEOR E4745Applied Financial Risk Management
IEOR E6604Advanced Combinatorial Optimization
IEOR E6613Optimization, I
IEOR E6614OPTIMIZATION II
IEOR E6711STOCHASTIC MODELING I
IEOR E6712STOCHASTIC MODELING II
ORCS E4200Data-driven Decision Modeling
ORCS E4529Reinforcement Learning
ORCS E6529Advanced Reinforcement Learning
Capstone: Only up to 3 credits can be applied. If the major has a capstone requirement, the capstone cannot be used as a technical elective.
UNDERGRAD RESEARCH OR PROJECT
ANALYTICS IN PRACTICE

Non-IEOR Technical Elective

APMA E3102APPLIED MATHEMATICS II: PDE'S
or MATH UN3028 PARTIAL DIFFERENTIAL EQUATIONS
APMA E4100Applied Analysis
APMA E4101APPL MATH III:DYNAMICAL SYSTMS
APMA E4204FUNCTNS OF A COMPLEX VARIABLE
or MATH UN3007 COMPLEX VARIABLES
APMA E4300COMPUT MATH:INTRO-NUMERCL METH
BMCS E4575High-dimensional statistics for biomedical data
COMS W3107Clean Object-Oriented Design
COMS W3157ADVANCED PROGRAMMING
COMS W3203DISCRETE MATHEMATICS
COMS W3261COMPUTER SCIENCE THEORY
COMS W4111INTRODUCTION TO DATABASES
COMS W4113FUND-LARGE-SCALE DIST SYSTEMS
COMS W4115PROGRAMMING LANG & TRANSLATORS
COMS W4118OPERATING SYSTEMS I
COMS W4153Cloud Computing
COMS W4156ADVANCED SOFTWARE ENGINEERING
COMS W4160COMPUTER GRAPHICS
COMS W4167COMPUTER ANIMATION
COMS W4170USER INTERFACE DESIGN
COMS W4232Advanced Algorithms
COMS W4236INTRO-COMPUTATIONAL COMPLEXITY
COMS W4252INTRO-COMPUTATIONAL LEARN THRY
COMS W4261INTRO TO CRYPTOGRAPHY
COMS W4281INTRO TO QUANTUM COMPUTING
COMS W4701ARTIFICIAL INTELLIGENCE
COMS W4705NATURAL LANGUAGE PROCESSING
COMS W4731Computer Vision I: First Principles
COMS W4732Computer Vision II: Learning
COMS W4733COMPUTATIONAL ASPECTS OF ROBOTICS
COMS W4735VISUAL INTERFACES TO COMPUTERS
COMS W4762Machine Learning for Functional Genomics
COMS W4773Machine Learning Theory
COMS W4774Unsupervised Learning
COMS W4775Causal Inference
COMS W4776Machine Learning for Data Science
CSEE W3827FUNDAMENTALS OF COMPUTER SYSTS
CSEE W4119COMPUTER NETWORKS
EAEE E4257ENVIR DATA ANALYSIS & MODELING
ECON GU4020ECON OF UNCERTAINTY & INFORMTN
ECON GU4211ADVANCED MICROECONOMICS
ECON GU4213ADVANCED MACROECONOMICS
ECON GU4251INDUSTRIAL ORGANIZATION
ECON GU4260MARKET DESIGN
ECON GU4301ECONOMIC GROWTH & DEVELOPMNT I
ECON GU4412ADVANCED ECONOMETRICS
ECON GU4413Econometrics of Time Series and Forecasting
ECON GU4415GAME THEORY
ECON UN3025FINANCIAL ECONOMICS
ECON UN3211INTERMEDIATE MICROECONOMICS
ECON UN3213INTERMEDIATE MACROECONOMICS
ECON W3412
EECS E6791
EECS E6792Deep Learning on the Edge
ELEN E4620Numerical Methods for Data Analysis
MATH BC2006COMBINATORICS
MATH GU4041INTRO MODERN ALGEBRA I
MATH GU4042INTRO MODERN ALGEBRA II
MATH GU4051TOPOLOGY
MATH GU4061INTRO MODERN ANALYSIS I
MATH GU4062INTRO MODERN ANALYSIS II
MATH UN2030ORDINARY DIFFERENTIAL EQUATIONS
MATH UN3020NUMBER THEORY AND CRYPTOGRAPHY
MATH UN3386DIFFERENTIAL GEOMETRY
ORCA E2500FOUNDATIONS OF DATA SCIENCE
STAT GU4205LINEAR REGRESSION MODELS
STAT GU4221TIME SERIES ANALYSIS
STAT GU4224BAYESIAN STATISTICS

Management Elective

CHEN E2100Material and Energy Balances
CIEN E3000THE ART OF STRUCTURAL DESIGN
CIEN E3129PROJECT MGMT FOR CONSTRUCTION
CIEN E4132PREV&RESOL OF CONSTR DISPUTES
CIEN E4138REAL ESTATE FIN/CONST MANAG
COMS W4460PRIN-INNOVATN/ENTREPRENEURSHIP
ECIA W4100MGMT & DEVPT OF WATER SYSTEMS
ECON GU4230ECONOMICS OF NEW YORK CITY
ECON GU4321ECONOMIC DEVELOPMENT
ECON GU4370POLITICAL ECONOMY
ECON GU4400LABOR ECONOMICS
ECON GU4438ECONOMICS OF RACE IN THE U.S.
ECON GU4465PUBLIC ECONOMICS
ECON GU4480GENDER & APPLIED ECONOMICS
ECON GU4500INTERNATIONAL TRADE
ECON GU4505INTERNATIONAL MACROECONOMICS
ECON GU4625ECONOMICS OF THE ENVIRONMENT
ECON GU4700FINANCIAL CRISES
ECON GU4710FINANCE AND THE REAL ECONOMY
ECON GU4750GLOBALIZATION & ITS RISKS
ECON GU4840BEHAVIORAL ECONOMICS
ECON GU4850COGNITIVE MECH & ECON BEHAVIOR
ECON GU4860BEHAVIORAL FINANCE
ECON UN2105THE AMERICAN ECONOMY
ECON UN2257THE GLOBAL ECONOMY
ECON UN3265MONEY AND BANKING
ECON UN3901ECONOMICS OF EDUCATION
ECON UN3952MACROECONOMICS&FORMATION OF EXPECTATIONS
ENGI E4100RESEARCH TO REVENUE
IEME E4200HUMAN-CENTERED DESIGN AND INNOVATION
IEME E4810INTRO-HUMANS IN SPACE FLIGHT
IEOR E2261ACCOUNTING AND FINANCE
IEOR E4207HUMAN FACTORS: PERFORMANCE
IEOR E4505OPERATION RES IN PUBLIC POLICY
IEOR E4506DESIGN DIGITAL OPERATING MODELS
IEOR E4507HEALTHCARE OPERATIONS MGT
IEOR E4510PROJECT MANAGEMENT
IEOR E4520APPLIED SYSTEMS ENGINEERING
IEOR E4521SYSTEM ENGI TOOLS/METHODS
IEOR E4711GLOBAL CAPITAL MARKETS
IEOR E4998MANAG TECH INNOV & ENTREPRENEURSHIP
ORCS E4201Policy for Privacy Technologies
SOCI W3490Mistake, Misconduct, Disaster
SOCI W3675Organizing Innovation
Corporate Finance (Can only take one):
CORPORATE FINANCE FOR ENGINEERS
Corporate Finance, Accounting & Investment Banking
QUANTITATIVE CORPORATE FINANCE