The scientific research of applied mathematics in Mongolia was founded in the field of numerical mathematics in 1962. The department of differential equations and numerical mathematics was established at NUM in 1993 and soon after, in 1996, the name was changed to the department of applied mathematics as its research areas expanded to include nonlinear and differential equations, numerical mathematics, optimization, control theory and others. After the structural change of the university in 2014, the Department of Applied Mathematics now hosts over 30 faculty members who are working in such diverse research areas as numerical mathematics, statistics, actuarial mathematics, financial mathematics, mathematical optimization, control theory, mathematical modeling, image processing, simulation, logistics, operations research, risk analysis, forecasting, meteorology and hydrology.