Close cooperation between researchers working in mathematics, theoretical physics, bioinformatics, and business administration and economics (especially the Institute of Mathematical Economics, IMW) has a long tradition in Bielefeld. This strategic research area has therefore produced a series of major collaborative projects such as the Collaborative Research Centre ‘Taming uncertainty and profiting from randomness and low regularity in analysis, stochastics and their applications’ and the International DFG Research Training Group ‘Searching for the regular in the irregular: Analysis of singular and random systems’ in cooperation with Seoul National University. Bielefeld University is proud to enjoy an excellent international reputation for its research in mathematics (3rd place according to DFG's Funding Atlas 2018, 2nd place in the Humboldt Ranking). Important current research interests include spectral structures and topological methods, stochastics and modelling of real systems, randomness and low regularity as well as economic behaviour and mathematical finance. The strategic research area aims at both developing fundamental concepts and theory as well as at applying these to long-standing open problems in economics and the sciences.