The Engineering and Physical Sciences Research Council (EPSRC) published a report it commissioned from Deloitte. This report is the first study of its kind to quantify the economic value of mathematics research in terms of the employment and its contribution to the UK economy.
The report estimates the contribution of mathematics to the UK economy in 2010 to be
- 2.8 million in employment terms
- and £208 billion in terms of GVA
That is about 10% of all jobs in the UK and 16% of total UK GVA.
Economic growth
Mathematics helps drive economic growth across wide sectors including finance, computer services, pharmaceutical and defense. As science and engineering, as well as other sectors for example banking, collate and wish to analyses larger and larger data sets, mathematics and statistics will become ever more vital to this country’s economy.
Without mathematics there would be no smart phones, MRI scanners, new medicines, aeroplanes or bank accounts.
Deloitte Report
Weather forecasting
Weather forecasting relies on heavy mathematical tools and extensive computation. Mathematicians play a rather pivotal role in weather forecasting and modelling.
Around 2,000 mathematicians are employed by the UK Met Office to analyse and evaluate vast amounts of atmospheric trends and information.
The UK is regarded in the meteorological industry as a talent hub with many institutions choosing to locate research facilities in the
Deloitte Report
Link
Mathematical sciences research: leading the way to UK economic growth
An executive summary can be found here (opens PDF)