This report summarizes the proceedings of the 2014 Mainz Institute for Theoretical Physics (MITP) scientific program on High precision fundamental constants at the TeV scale. The two outstanding parameters in the Standard Model dealt with during the
MITP scientific program are the strong coupling constant $alpha_s$ and the top-quark mass $m_t$. Lacking knowledge on the value of those fundamental constants is often the limiting factor in the accuracy of theoretical predictions. The current status on $alpha_s$ and $m_t$ has been reviewed and directions for future research have been identified.
