About Mathematics

Mathematics is the study of numbers, formulas and geometry. Mathematicians use pure reasoning to discover and prove the properties of abstract objects such as a triangle or a square. The theorems that evolve from such reasoning find application in various fields such as finance, engineering, computer science, physics, medicine, sports and social sciences. Degree programmes in mathematics typically teach both the theoretical and practical aspects of mathematics called ‘pure mathematics’ and ‘applied mathematics’ respectively.

　　Some course modules that students can expect to study in a mathematics degree are statistics, number theory, advanced calculus, complex applied probability, abstract algebra and differential equations.

　　

Is Mathematics right for me?

Are you deemed as someone who loves numbers and uses logic and reasoning to find solution to problems? If yes, then you’re well suited to mathematics. Detail-oriented and organised individuals find themselves at home in this field of study. If the notion of crunching numbers for hours sounds dull and uninspiring to you, then this field of study is probably not for you.

　　

Mathematics study options and costs

　　You’ll need at least a bachelor’s degree in mathematics to secure job opportunities in this field. A bachelor's in mathematics is offered either as a bachelor’s of arts (BA) or a bachelor’s of science (BS) in Mathematics. A BA programme provides a solid foundation in mathematical principles and allows students to tailor the programme to pursue their interests in their final years. On the other hand, a BS programme aims to cover multiple mathematical topics and develop expertise in them. BS programmes will have fewer elective choices and most electives offered will be related to computer science. This is because most mathematical graduates mostly find occupation in fields related to computer science and data analysis. Common co-majors offered with a mathematics degree are data science, climate science, finance, economics and computer science.

　　A bachelor’s degree is 3-4 years in duration and can cost anywhere between $26,000-43,000 per year on average in the US.

　　A master’s in mathematics broadens your horizon in the job market. Most universities offer a master’s in either theoretical or applied mathematics. This programme is 2 years in duration and can cost on average AUD33,696 in Australia.

　　A PhD in mathematics is highly prized and can help your odds in securing well-paid jobs. Furthermore, PhD graduates can apply to become a professor of mathematics at the university level.

　　

Future outlook

Mathematicians are forecasted to find tremendous employment opportunities in the field of academia, research and development and consulting services. According to the U.S. Bureau of Labor Statistics, the overall employment for mathematicians is expected to increase by a staggering 33% in the next few years! To put this into perspective the average growth of all occupations is only 8%. The rising market demand, high-income levels and low-stress work environments make mathematics an enviable career path with a promising future.

　　

Career pathways for Mathematics graduates

　　

Actuarial science

　　Actuaries forecast the probability of an occurrence to assess the risk associated with a particular venture. The calculation of the economic cost of events such as death, natural disaster or a car accident help insurance companies make smarter financial decisions. Actuaries compile and analyse statistical data and propose strategies that minimise risk. Actuaries must also write reports to explain their research and findings to relevant stakeholders.

　　

Data Analyst

　　Data analysts find employment in sectors such as finance, pharmaceuticals, manufacturing and education. Data analysts set up and maintain automated data processes and track performance indicators. They audit and interpret data. Data analysts mine huge data sets and offer actionable advice based on the inferences they draw from the data. They must also prepare reports to explain the data to internal and external audiences.

　　

Statistician

　　As a statistician, you will collect appropriate data and use it to tackle business challenges. You might use polls, surveys and experiments to collect data and then analyse it to spot patterns. You’ll then advise the management on how to improve business performance using insights from this data. Additionally, you will also have to write reports explaining your findings.