MSC applied statistics is a popular post-graduation program among mathematics students. Pursuing this course helps students to get lucrative job opportunities in private as well as the public sector. In this article, we are going to understand in detail about this program.

What is M.Sc Applied Statistics?

M.Sc in Applied Statistics is a full-time mathematics postgraduate degree. The duration of this program is two years. In it, students get in-depth knowledge of subjects-

Mathematics
Social sciences
Finance
Economics

What is the eligibility to pursue M.Sc Applied Statistics?

To pursue M.Sc. Applied Statistics-

You need to complete an undergraduate degree from a recognized university.
You must have maths as a compulsory subject in the undergraduate degree.
You must have at least 50% average marks.

Which subjects are covered in the curriculum of M.Sc Applied Statistics?

The following subjects are covered in the curriculum-

Year One - Semester One

Probability Distributions
Statistical Computing
Linear Algebra
Mathematical Analysis
Sampling Theory

Year One - Semester Two

Statistical Inference
Probability Theory and Applications
Linear Models
Multivariate Statistics-1
Stochastic Processes

Year Two - Semester Three

Design of Experiments
Statistical Learning and Data Mining
Computer Intensive Statistical Methods
Multivariate Statistical Analysis-2

In the third semester, students can select a specialization course between the following-

Bio-Statistics and Data Analysis
Data Science
Industrial Statistics and Operations Research

Year Two - Final Semester

Common subjects in this semester are-

Statistical Machine Learning
Industry Project In Specialization
Scientific and Report Writing

The specialization course subjects are as follows-

Bio-Statistics and Data Analysis

Statistical Methods in Micro-array Data Analysis
Statistical Methods for Bio Computing
Analysis of Clinical Trial Data

Data Science

Big Data Analytics
Statistical Methods for Bio Computing
Statistical Methods for Quality Control

Industrial Statistics and Operations Research

Statistical Methods for Quality Control
Statistical Methods for Reliability
Stochastic Models in Finance

What are career prospects after completing M.Sc Applied Science?

After completing M.Sc. Applied Science, numerous opportunities open for you some of them are mentioned below-

Statistician

Statistician helps in solving problems that businesses, academia, industries and the government faces with the help of formulae and data. They do their duty by analyzing the data and applying various techniques of mathematics, as well as statistics.

Quantitative Developer

A quantitative developer is someone who develops a trading infrastructure for investment banks. They do this with the help of computer programming.

Quantitative Risk Analyst

A quantitative risk analyst applies the mathematical and statistical method to solve financial as well as risk management problems. Additionally, they develop and implement complex financial models that are used to make decisions on investment, pricing, etc. by financial institutions.

Conclusion

These are just some of the opportunities, pursuing masters in statistics in India would open a wide range of opportunities for you. These options would provide you with job satisfaction and lucrative salary option.