The Institute of Operations Research and Control Sciences constitutes the cornerstone of the discipline "Operations and Control Theories" (professional PhD program), which ranked first among its counterparts in 2004-2007 Chinese University rating. Currently boasting 5 full professors, it engages basic theoretical research in such fields as financial mathematics, combination and optimization, distributed parameter system theory, and at the same time carries out application study and services in financial engineering, electrical power system, and production plan scheduling. In the recent 5 years, its members have presided over a dozen national projects, trained 50 postgraduates. So far, over 30 of its graduates are holding key posts in financial institutions (banks, stock exchanges and funds). The national level teaching team for "mathematical modeling methods and practice" built by members of the institute has made important contribution to teaching practices for solving practical issue using mathematics, and "mathematical modeling" has been awarded National 2nd Prize for Teaching Achievement.