From Compsci.ca Wiki
Applied Mathematics is the study of mathematics as it relates to the physical world. It has been summarized by some people as theoretical physics without the labs. The focus of the study is on both physics and calculus, and those studying applied math will delve into areas such as Chaos Theory, General Relativity and Quantum Mechanics.
Although many people holding Applied Math degrees remain part of the education sector, a lot of them also go on to private and government jobs in areas such as the aerospace industry or finance.