Stochastic Processes module (MA51005)

In Stochastic Processes, you study systems that evolve with an element of randomness, giving you tools to analyse and predict uncertain or fluctuating behaviours. You’ll explore key concepts like Markov chains, Poisson processes, and Brownian motion, which are central to understanding phenomena such as stock market trends, queueing systems, and population dynamics.

This module introduces you to probability theory and mathematical models that describe how random events unfold over time. You’ll learn how to calculate probabilities, expected values, and variances for processes influenced by chance.

Through problem-solving and real-world applications, you develop the ability to tackle complex systems where randomness plays a role. By the end, you’ll be equipped to apply stochastic methods in fields like finance, engineering, biology, and physics, giving you a powerful perspective on systems influenced by uncertainty.