Masters degrees in Mathematical Modelling equip postgraduates with the skills to apply mathematical methods in the construction (or simulation) of real-world processes. From these simulations, calculations and predictions may then be made.
Related postgraduate specialisms include Data Visualisation and Predictive Modelling. Entry requirements typically include an undergraduate degree in a relevant Mathematics subject.
Mathematical Modelling is essential in our understanding of many of the day-to-day processes and systems we know and utilise.
For example, modelling is a useful way of understanding different economies. You may work on behalf of government departments, dealing with big data to assess where crucial changes are needed, or to record activity.
This could include analysing the number of organisations involved with certain trade deals and transactions, or how certain economic operations will fare under different circumstances, such as recession.
These techniques also help understand industries such as transport or finance, whereby current figures may be used to assess supply and demand of different products and services.
Alternatively, you could be employed to undertake operational research on behalf of an organisation, calculating budgets, profits, pay scales and stocks.