Masters degrees in Probability involve advanced study of the calculation of chance through mathematical methods. In other words, they aim to help you measure the likelihood of the occurrence of certain events.
Related postgraduate disciplines include Financial Mathematics, Operational Research and Actuarial Science. Entry requirements normally include a relevant undergraduate Mathematics degree.
Why study a Masters in Probability?
Probability is a key practice in many fields, and is particularly helpful in negotiating the operations of activities within different sectors and professional practices, either to try and stop events from happening or increase the chances of them occurring.
This includes areas such as Environmental Science, particularly in relation to weather predictions, climate change and biodiversity. By surveying and collecting data about our current landscapes, professionals can estimate how likely it is that certain events will occur, and often the rate at which will they will happen. The extinction of a species is a common example of this.
Other fields include Actuarial Science, whereby financial investors can try to predict shortfalls in stocks or profits, and help to boost economic activity in areas such as insurance, banking and loans.
You may also be employed in industries such as healthcare, defence, aerospace, automotives, artificial intelligence and retail.