Mathematics degree overview

Encyclopedia Britannica defines mathematics as the science of structure, order, and relation that has evolved from elemental practices of counting, measuring, and describing the shapes of objects. It deals with logical reasoning and quantitative calculation.

Degree programs in mathematics typically teach both the theory and abstract of pure mathematics and its practical application to the world, known as applied mathematics. In other words, aspiring mathematicians study algebra, geometry, calculus, and statistics; but most pair this mathematics concentration with classes that reveal how math concepts are used in business management, computer science, economics, finance, music, philosophy, physics, and sports science.

Associate Degree in Mathematics
Mathematics degree programs at the associate level provide students with fundamental math skills that prepare them to work as research assistants, bookkeepers, and surveyors.

Typical classes include intermediate algebra, linear algebra, and problem solving.

Bachelor’s Degree in Mathematics
Holders of a Bachelor’s Degree in Mathematics generally qualify for positions as actuaries, financial analysts, controllers, and researchers. With the required teaching certificate, they may also teach math.

Coursework at this level includes:

• Probability and Statistics
• Abstract Algebra
• Advanced Calculus
• Applied Regression Analysis
• Complex Variables
• Applied Probability

Accounting
The field of accounting is focused on analyzing income and expenditure records; on tracking budgets and revenue; and on producing financial records for individuals, businesses, industries, and governments

Applied Mathematics
This degree program provides students with in-depth training in mathematics, statistics, and probability. It teaches the use of models in analyzing and solving financial problems and includes coursework in economics, finance, accounting, and computer science.

Computer Science
Computer science programs teach students about computer systems and the way humans and computers interact. Coursework covers mathematics for computer science, artificial intelligence, data structures and algorithms, introduction to program design, and the theory of formal languages.

Economics
Economics asks wide questions about world economies, how governments should respond to financial crises, how stock prices and exchange rates are set, and how to help people living in poverty. The degree field of business and managerial economics is focused on how to use the concepts and theories of economics to study and solve problems in business.

Finance
The finance field is concerned with how individuals, businesses, and organizations raise, distribute, and use money. Majors in this field learn how to make financial decisions concerning raising funds, investments, and cost control for organizations. Topics covered include budgets, stocks and bonds, and interest rates.

According to Kaye Stacey of the University of Melbourne in Australia, studying mathematics and thinking mathematically involve four fundamental processes:

• Specializing – looking at examples and special cases
• Generalizing – looking for patterns and relationships
• Conjecturing – predicting relationships and results
• Convincing – finding and communicating reasons why something is true

It is not difficult to see how these processes can be applied to almost any field of work and how they leave mathematics graduates with the following set of transferable skills:

• Analytical Thinking
• Critical Thinking
• Problem Solving
• Quantitative Reasoning
• Ability to manipulate precise and intricate ideas
• Ability to construct logical arguments and expose illogical arguments
• Communication
• Time Management
• Teamwork
• Independence

There is a reason that ‘reading, writing, and arithmetic’ have long been promoted as the essential ‘Three Rs’ of education. Quite simply, it is because these three skills are the foundational skills of learning and of working in any field. In fact, 94 percent of all workers use some sort of math in their jobs. Therefore, graduates of mathematics – or advanced arithmetic – can apply their knowledge in this diverse, though not exhaustive list of occupational categories:

Mathematics and Statistics
These two closely aligned fields are the most obvious employers of math majors. In many cases, working in roles directly related to math and statistics requires an advanced degree and involves solving business problems by developing statistical models to collect and analyze data and draw conclusions.

Insurance
The insurance sector employs a significant number of mathematics graduates. Many work as actuaries, using advanced math to calculate and manage risks for insurance companies. The job involves figuring out how likely it is that specific events – illness, death, car accidents, natural disasters – will occur; and using those determined probabilities to predict the risk and the cost of insuring against such events.

Accountancy
Math training is often the first step that aspiring accountants take in preparing for a career in the field and ultimately becoming a certified public accountant (CPA).

Banking / Finance / Investment
A background in mathematics is very valuable in these business sectors. Financial analysts apply their knowledge in identifying financial market trends and making investment recommendations and decisions.

Construction, Manufacturing, and Merchandising
These fields hire cost estimators to determine project costs, timelines, and required resources. They also employ inventory control specialists whose job it is to maintain the right amount of stock to operate efficiently. Both roles require mathematical analysis skills.

Economics
In this sector, economists use mathematical and statistical methodologies to examine financial data and advise businesses on the production and distribution of goods and services.