Mathematics & Statistics Graduate Programs
Mathematics and Statistics Graduate Programs encompass mathematical theory, statistical data analysis and computer technology. If you are someone who enjoys algorithms and ...
solving real-world problems in business, engineering, the sciences and other fields through calculation and computational methods, graduate Math Programs are well worth considering.
Mathematics and Statistics Graduate Programs are designed to prepare students for advanced careers such as statisticians, university-level math teachers and mathematicians. Whereas an undergraduate degree may be sufficient for some entry-level roles, if you aspire to work in private industry as a mathematician, most jobs require a Master’s degree[i]. If you hope to teach at the post-secondary level or work in scientific research, likely you will need a Ph.D.[ii]
Students enrolling in either a master’s or PhD program in mathematics typically have earned undergraduate degrees in math or statistics, though in some cases a related field such as computer science might be acceptable as well.
If you have studied math since high school, you know that course topics become more complex at each stage of study. Graduate math programs and statistics degrees offer students the opportunity to learn more in depth subjects as well as take courses that are in related fields (e.g. computer science, engineering, physics, or mathematics). The reason for this is to help prepare students to work in a variety of industries as opposed to learn theory without practical application.
FACT: 38% of Mathematicians hold a Master’s degree, 33% a Doctoral degree & 21% a Bachelor’s degree (O’Net)[iii]
Whether you are seeking a graduate certificate, a master’s degree or a doctorate, mathematics is actually a pretty broad academic field with plenty of room to expand on an area of concentration. Some of these include Actuarial Science & Financial Engineering, Mathematics, Statistics & Data Analysis.
Actuarial Science graduate students study how to analyze data and determine related risks using mathematical tools, and often study risk management -the discipline that focuses on the application of quantitative methods to problems involving risk or uncertainty. Students gain an understanding of current and future problems and solutions in insurance and banking and fundamental and conceptual knowledge of the mathematical and economic aspects of financial theory and insurance techniques.
Financial engineers use mathematical and computational tools to apply logical analysis to problems related to finance. They also use their knowledge of finance to develop financial instruments which can then be used by investment firms and banks. This is the type of program that could offer a Master of Science in Financial Mathematics.
Math programs typically include a basic graduate curriculum in mathematics, as well as the opportunity of some more specialized training in an area of interest. For instance, a masters in mathematics might involve fundamental courses in real analysis, complex analysis and linear algebra, followed by other courses such as probability, scientific computing, and differential equations. Often you are then able to take more advanced graduate courses in pure and applied mathematics depending on your own interests. Browse listings such as Master of Science in Mathematics, M.A. Mathematical Foundations and Master of Science in Pathology
Statistics and Data Analysis often include a strong methodological statistics training. Graduate students should have a background in mathematics, statistics, or a quantitative field. Course topics may include advanced calculus, linear algebra, and probability theory. A few options you might review could include: Doctor of Computer Science – Big Data Analytics (Executive Format), M.S. in Analytics, M.S. in Business Analytics and PhD in Statistics.
Curriculums vary between programs, degree levels and the universities that offer them. As you review your options, a curriculum can help you decide whether or not the Mathematics and Statistics Graduate program fits your vocational or academic needs. In general, you might expect to see a range of courses that may include topics such as:
Choosing a Mathematics and Statistics Graduate Degree also involves deciding what type of program format works into your lifestyle. Two of the distance-learning options are online and hybrid – a combination of online coursework and on campus visits. Sometimes these learning options suit busy working professionals since they may allow a certain amount of scheduling flexibility. That being said, some graduate schools have evening and weekend classes and you get the social and in-person learning aspects.
Searching on GradSchools.com you can choose your subject then refine your search by program level and program type. You can also review programs by location; use the city, state and country tabs to browse results. Keep in mind that you can also reach out to each university to find out more about their program.
Accreditation is a type of quality control and can be institutional or programmatic. In terms of programs in applied science, computing, engineering and engineering technology, ABET is considered an accrediting body recognized by the Council for Higher Education Accreditation. In terms of a university or college, if accredited, this comes from national or regional institutional accreditation agencies or the U.S. Department of Education.
According to the Bureau of Labor Statistics, Graduates with a master’s degree in statistics and a strong background in a related discipline, such as finance, biology, engineering, or computer science, are expected to have the best prospects of finding jobs in their field of study.[iv] In fact, the job outlook from 2014 to 2024 is a 34% growth for Statisticians[v] and a 21% increase in employment for Mathematicians during this same time frame.[vi] The BLS also points to stronger job prospects for those with a graduate degree in mathematics.
Mathematics & Statistics Graduate Programs offer you the opportunity to build strong quantitative research, programming and data analysis skills, as well as to learn mathematics as it applies to a specific field such as business or medicine. With job prospects better for graduates with advanced degrees, the calculation to take the next step and look into graduate school would be wise.
The University of the Witwatersrand is located in the largest metropolitan area and the industrial and commercial heart of South Africa.