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From Wikipedia:
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MATLAB is a numerical computing environment and programming language. Maintained by The MathWorks, MATLAB allows easy matrix manipulation, plotting of functions and data, implementation of algorithms, creation of user interfaces, and interfacing with programs in other languages. Although it is numeric only, an optional toolbox uses the MuPAD symbolic engine, allowing access to computer algebra capabilities. An additional package, Simulink, adds graphical multidomain simulation and Model-Based Design for dynamic and embedded systems. |
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FreeMat is a free open source numerical computing environment and programming language, similar to MATLAB and GNU Octave. In addition to supporting many MATLAB functions and some IDL functionality, it features a codeless interface to external C, C++, and Fortran code, further parallel distributed algorithm development (via MPI), and has plotting and 3D visualization capabilities.
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Mathcad vs MATLAB, 
