STAT 433Stochastic Processes 2
- Units
- 0.50
- Faculty
- Mathematics
- Subject
- Statistics
When it runs
- F24
- W25
- S25
- F25
- W26
- S26
- F26
- W27
- S27
Ran in 3 of the last 7 terms. Winter 2027: not on the schedule. Spring 2027: schedule not out yet.
This course provides further ideas and methods in stochastic modelling, with an emphasis on continuous-time stochastic processes. Topics cover time to absorption based quantities and discrete phase-type distributions of discrete-time Markov chains, continuous-time Markov chains with a countable state space, limit distributions for ergodic and absorbing chains, and applications including birth and death processes and queueing models of practical interest. Other topics may include continuous phase-type distributions, renewal theory and limit theorems for regenerative processes, and phase-type renewal processes.
Prerequisites
- Must have completed the following:
- STAT333 - Stochastic Processes 1 (0.50)
Antirequisites
None listed.
Leads to
No course lists it as a requisite.
Fall 2026 sections
| Section | Class | Enrolled | Meets |
|---|---|---|---|
| LEC 001 | 6025 | 21 / 60 | TTh 13:00–14:20 |
Resources
Around the web
Found by uwloo’s link finder, which checks that each page names STAT 433.
- Course Notes (not 100% polished) Course notes · david-duan.me · posted on r/uwaterloo Mar 2022 Remove
- stat433 notes Course notes · richardwu.ca · posted on r/uwaterloo Feb 2020 Remove
Reviewed on UW Flow
95% liked it13% easy80% useful
From 20 ratings and 9 comments on UW Flow. The most helpful comments, quoted as written, without names. Read them all on UW Flow.
This course and stat 333 are two of my favourite stat courses. Took both with Yi Shen and he is the best stat prof I had during my undergrad studies. Super smart and clear with the topics and explanations. The courses remind me of math239/249 which requires lots of intuition. Stat 433 is harder than 333 as it requires you to also have good foundations of linear algebra and calculus to do the calculation. knowledge from stat 330/331 also becomes more important for 433. really recommend it if you love 333 and have solid math foundations. topics include: review of dtmc, ctmc, birth and death process, queueing theory, dph/cph, renewal process
Dec 2021 · liked it · 1 found this helpfulOn UW FlowRemove this
Basically a harder version of STAT333; not much new concepts but it went into more detail. Less calculations and more intuitive stuff.
Nov 2015 · liked it · 1 found this helpfulOn UW FlowRemove this
F25 with Jeffrey Negrea. Definitely the hardest course I've taken by a lot, but it was well-structured and I loved doing the assignments in this course. They would also help me learn the content pretty well. A bit sad this course used to be 100% assignments lol but definitely reasonable given the amount of AI available for people to cheat using. Course is highly theoretical -- expect it to be more like a PMATH course and I would recommend self studying some real analysis and basic measure theory before taking the course to gain a better intuition for what's going on. A lot of heavy notations going around that makes it take a long time to digest what the intuition is. There are basically no…
May 2026 · liked itOn UW FlowRemove this
Took it with Negrea. Very heavy course but extremely rewarding. Loved that it was taught like a PMATH course; almost entirely proof-based assignments and exams instead of long computations or word problems. Definitely recommend taking at least one analysis course before this though.
Jan 2026 · liked itOn UW FlowRemove this
taken with Jeffrey Negrea. Content is super dense and takes time to understand unless you already took real analysis and/or measure theory. Course content builds upon these foundations so its an extremely rigorous version of stat 333. There's a lot of time to do assignments and though so that's good, but might have to spend a long time understanding things. I also found lectures not to be that useful because the pace is really fast. The uploaded notes are alright and its mainly rigorous probability theory, martingales, markov chains, and discussion on other processes such as browninan motion and stuff which was pretty interesting
EDIT: I've come to change about how useful i think this…Oct 2025 · liked itOn UW FlowRemove this
Discussed on r/uwaterloo
88 posts and comments in 74 threads mention STAT 433, July 2015 to December 2024. Quoted word for word, newest first; each reply sits under the post and the comment that started its branch. Search r/uwaterloo for newer posts.
Fall 2024
Most academically difficult term so far? 25 points, 39 comments
“Wondering which year/term was the most challenging for you? Preferably students in engineering or more specifically mech eng.”
u/Unique-Doughnut9096: “3A (math) was the hardest for me. Pmath 451, Pmath 453, Pmath 940, Stat 433, Math 249, Actsci 372. Shit was not fun on top of coop search.”
Winter 2024
I have a genuine doubt 1 point, 14 comments
“Like people say they haven't studied at all around 10 hr before an exam, don't know what to expect and don't have a co-op yet, HOWEVER, suddenly after the term ends, they end up getting 80+ easily in …”
u/Nebel12345: “They're probably paying attention in class and doing the assignments and practice problems and reviewing their notes on a regular basis. …”
u/Nebel12345: “… (Stat 433 was one example bruh it was death). …”
Fall 2023
Any Math (MATH/CO/CS/AMATH/PMATH/ACTSC) courses with no final exam this term? 1 point, 7 comments
u/Solid_Phrase: “STAT 433”
Spring 2023
For math students, what are the must-have profs from every department? 1 point, 2 comments
u/theGooseWatch: “… Yi Shen for STAT 333 & 433. Pristine course organization and lecture notes. Took these online. Nathaniel Stevens for STAT 341. Gives you assignments that make you learn useful DS skills. …”
Winter 2023
A course about understanding finance and why ppl don’t chase quant jobs 10 points, 7 comments
“I’ve seen a course called topics in mathematics with application in finance (from an unknown Waterloo of the south impostor school). …”
u/adhdbitch: “CS 476, ACTSCI 476, STAT 433/441 cover some of that stuff”
Fall 2022
Best STATs courses 24 points, 27 comments
“Looking to major in stats, what’re the best stats courses in people opinion?”
u/AdverseDodecahedron: “Depends on what you're looking for! I really enjoyed Stat 333 because I like probability theory. E.g. you get to show how the probability of an event never happening can be greater than 0 and less …”
u/QUITIG: “Thanks! What’re your thoughts on Stat 433?”
STAT 433 or STAT 450 2 points, 0 comments
u/Novel_Brain9700: “I heard that both of these courses dive into a more "mathy" view of statistics which I really like -- however, I could only take one of the courses above because of my schedule. Which course would you guys suggest? Thank you very much for your suggestion!”
Fall 2021
stat433 actsc445 446 0 points, 1 comment
u/Ok_Understanding7072: “Anyone taking stat433 actsc445 446 clas104 hrm200 this term？ Looking for study buddy”
Anyone in STAT433 in Fall 2021？ 0 points, 1 comment
u/Ok_Understanding7072: “Looking for study buddy”
Math 249/Stat 433? 0 points, 2 comments
u/Bid_Queasy: “Anybody taking either of these in the Fall? Want to be study buddies?”
u/Finance_Is_Bullshit: “Take Stat 433, but please don't go into finance later...”
Spring 2021
How is STAT 433 comparing with STAT 333? 5 points, 2 comments
u/sixrunnerupjames: “Is stat 433 much harder than stat 333? Many people say STAT 333 is difficult, but I actually enjoyed the course material, and got 94. I am planning to take stat 433, but many people say it is the hardest stat course. …”
Is STAT 433 important? 0 points, 1 comment
Check it elsewhere for Fall 2026
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