Major

Statistics and Stochastic Processes

#1 University in Australia #22 University in the world

Learn to interpret data, model uncertainty, and make smarter decisions backed by evidence.

You'll develop skills in statistical modelling and probability to make sense of complex data and random systems. Studying statistics and stochastic processes teaches you how to find patterns, test ideas, and make evidence-based decisions. These skills are in high demand across data science, finance, health, insurance, and government – industries where data drives decisions.

Your learning outcomes

By majoring in Statistics and Stochastic Processes, you'll develop the knowledge and skills to:

  • Analyse real-world data and interpret what it's telling you
  • Model uncertainty and random systems using probability and advanced statistical methods
  • Make smart, evidence-based decisions backed by data
  • Apply statistical thinking to challenges in data science, finance, health, and insurance
  • Spot patterns and test ideas rigorously using statistical reasoning
  • Prepare for careers in data science, analytics, and research.

What you’ll study

You'll begin with developing critical mathematical tools and techniques in calculus and linear algebra. In second year, you'll draw on these to learn foundational statistics and probability, understanding how to make sense of data and model uncertainty. By third year, you'll work with real datasets through deeper study in stochastic modelling and linear statistical models, and choose electives in probability theory, modern applied statistics, or computational methods.

Career outcomes

Graduates with a Statistics and Stochastic Processes major work in data science, finance, health, insurance, and government – anywhere evidence-based decisions matter. The statistical modelling and data analysis skills you develop are highly transferable and in-demand across industries. You'll also be well-prepared for postgraduate study in statistics, probability, or related fields.

This major is available in the Bachelor of Science.

In the Statistics and Stochastic Processes major, you’ll learn to make sense of data and model uncertainty through statistics, probability and stochastic processes.

Major structure

The Statistics and Stochastic Processes major is made up of seven subjects (87.5 credit points) taken in your second and third year. Each subject is worth 12.5 credit points. Level 2 subjects are usually taken in second year, and Level 3 subjects in third year.

To complete this major, you’ll need:

  • 12.5 credit points of Level 2 major core
  • 12.5 credit points of Level 2 major elective (Group A)
  • 12.5 credit points of Level 2 major elective (Group B)
  • 25 credit points of Level 3 major electives
  • 25 credit points of Level 3 capstone

The rest of your degree will consist of a science core subject, elective subjects in science, and breadth (non-science) subjects.

Further information

You can find detailed information about your major – including structure, subject availability, and participation requirements – in the Handbook.

You can also explore your study pathway and sample course plans through My Course Planner.

Overview

Statistics graduates are in exceptionally high demand due to the growing importance of data-driven decision-making across all sectors. Your expertise in statistical modelling, probability, and data analysis makes you invaluable to employers navigating data-rich environments.

Our graduates work as data scientists, statisticians, data analysts, and research analysts.

Employers in this field include:

  • Government organisations including the Australian Bureau of Statistics, Treasury, and health departments
  • Financial services companies such as ANZ, NAB, and insurance firms
  • Technology companies including Google, Amazon, and data analytics firms
  • Medical research institutes including the Walter and Eliza Hall Institute and the Murdoch Children's Research Institute
  • Universities and research institutions including CSIRO and international research centres.

For more career examples and profiles, visit Careers in Science.

Further study

At the end of your degree, you'll be well-placed to pursue graduate study in maths – for example, in the Master of Science (Mathematics and Statistics) or the Master of Data Science. You could also explore further study in other disciplines – in science, law, teaching, health, business, humanities, and more.

If you’re interested in graduate research, you can progress to the Master of Science to set you up for a PhD and a rewarding research career.