Stochastic processes at Melbourne
Probability is a beautiful and ubiquitous field of modern mathematics that can be loosely described as the mathematics of uncertainty. It has applications in all areas of pure and applied science, and provides the theoretical basis for statistics. Four of the last twelve Fields Medallists have been recognised for their work in probability.
Stochastic processes involves the study of systems that evolve randomly in time. The latter is a characteristic feature of the behaviour of most complex systems such as living organisms, large populations of individuals of some kind (molecules, cells, stars or even students), financial markets, systems of seismic faults, etc.
Being able to understand and predict the future behaviour of such systems is of critical importance, and requires understanding the laws according to which the systems evolve in time. Discovering such laws and devising methods for using them in various applications in physics, biology, statistics, financial engineering, risk analysis and control is the principle task of researchers working in the area of stochastic processes.
Computer simulations also play an important role in the field, and enable one to get insight into the behaviour of analytically intractable systems.
We investigate a diverse range of theoretical and applied stochastic processes
Research in our group covers:
- Stochastic approximation
- The theory of queues and stochastic networks
- Random walks
- Random graphs and combinatorial structures
- Reinforcement processes
- Interacting particle systems
- Stochastic dynamical systems
- Boundary crossing problems.
We pursue a wide range of applications across many industries
- Epidemiology
- Healthcare
- Traffic management
- Risk modelling
- Financial engineering.
Students interested in pursuing a career in various fields such as mathematics, statistics, physics, biology, finance, economics etc. will benefit greatly by studying probability at a deep level. Stochastic Processes graduates work in research and development departments of leading financial and insurance institutions, defence organisations, as well as in the areas of bioinformatics, signal processing, technology and many others.
Stochastic processes seminars
You can find an archive of selected past seminars on the University events calendar.
Time and place
Wednesdays during Semester, 1–2pm
Peter Hall Building, Room 162
Coordinators
Upcoming seminars
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