Module Identifier EC10910
Module Title STATISTICS FOR ECONOMISTS
Co-ordinator Mr Alan Jones
Semester Semester 2
Other staff Mr Alan Jones, Glenda Roberts
Mutually Exclusive AC10410
Course delivery Lecture   22 Hours
Seminars / Tutorials   6 Hours
Assessment
Assessment TypeAssessment Length/DetailsProportion
Semester Exam1.5 Hours  80%
Semester Assessment  20%

#### Learning outcomes

On completion of the module the students will:

• Know how to display data in figures such as pie-charts, bar charts, and histograms.
• Understand the purpose of measures of central tendency, dispersion, and association and be able to calculate them.
• Understand the concept of a probability distribution and have a basic understanding of the meaning and use of the following distributions: normal, t, F, chi-squared;
• Know the meaning of a sample and be able to calculate and draw inferences from sample statistics.
• Have an understanding of time-series data.
• Understand the principles of estimation: bias and efficiency
• Be able to produce and test hypotheses.
• Understand the idea of correlation.
• Be able to interpret output from spreadsheets and other computer packages.

#### Brief description

Statistical analysis is an important part of the economist's toolkit and this module looks at introductory ideas. No previous knowledge of the subject is assumed.

#### Aims

To give students an introduction to descriptive and inferential statistics and to help them understand the purpose and meaning of statistics. The module is designed to make students familiar with the various statistics used in economics and will give them a preliminary introduction to statistical computer programs including spreadsheets.

#### Content

1. DESCRIPTIVE STATISTICS. Diagrammatic representations of data. Averaging. Measuring spread. Weighted averages.
2. PROBABILITY. Basic ideas. Addition and multiplication rules. Tree diagrams. Success/Fail experiments. Binomial distributions. Normal distribution.
3. STATISTICAL SIGNIFICANCE. Idea of significance. Tests concerning means. Tests concerning variance. Comparisons. Goodness of fit; contingency tables.
4. RELATIONSHIPS. Scatter diagrams, correlation and lines of best fit. Dependent and independent variables. Variation over time.