Stochastic mathematical models are essential for an accurate description of biochemical processes at the cellular level. The effect of random fluctuations may be significant when some species have low molecular counts. While exact stochastic simulation methods exist, they are typically expensive on systems arising in applications. Thus more effective strategies are required for simulating complex stochastic models of biochemical system. Often, the expected value of some function of the final time solution of the stochastic model is of interest. Then, the approach employing multi-level Monte Carlo methods is
more efficient than the traditional techniques. In this thesis, we study multi-level Monte Carlo (MLMC) schemes for a reliable and effective simulation of stochastic models of biochemical kinetics. The advantages of these MLMC strategies are illustrated on several biochemical models arising in applications.