|Description:||Statistics deals with the collection, analysis and interpretation of data using probability and other mathematical tools. It also deals with the development of mathematical and random models for phenomena in everyday life. Statistical methods are used in engineering, financial management, insurance, marketing, medicine, politics, science, social science and many other fields.
Actuarial science is the study of models and methods used in the analysis and management of financial risk. An actuary is a business professional who applies his/her knowledge of mathematics, probability and statistics to financial problems involving future uncertainty. Together with applied math, financial modelling modules, which prepare students for careers in banking and finance, are also offered.