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Applied mathematics

Definition:

The study of the application of mathematical principles to domains outside of mathematics itself. Although the branches of mathematics within this categorization change with time, applied mathematics typically involves the use of differential equations, numerical analysis, and statistics with areas of knowledge such as engineering, biology, physics, computer science, economics, and finance.

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Copyright © 2011 Campbell R. Harvey, Professor of Finance, Fuqua School of Business at Duke University

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