Module leader

Dennis Leech

Information on Restrictions and Pre- and co-requisites, Teaching Format, Academic Aims, and Learning Objectives can be found in the module thumbprint.

Context

12 CATS. This module is appropriate to students who have at least a grade A in GCSE Mathematics, or equivalent.

It forms part of the first year core cluster EC120 Quantitative Techniques

Teaching format

Assessment methods

Academic aims

Syllabus

Descriptive Statistics

Measures of location, dispersion. Measurement of inequality, the Gini coefficient.

Probability theory

The distinction between risk and uncertainty. The concept of probability. The rules of probability.

Random variables and probability distributions. Discrete random variables: Bernoulli, binomial, Poisson. Continuous random variables: uniform, Gaussian (‘Normal’) distributions.

Bivariate probability distributions; joint, marginal and conditional probability distributions; covariance and correlation.

Statistical Inference

Sampling and sampling distributions for means and proportions. Uses of the t, ch-square and F distributions.

Point estimation and confidence intervals.

Hypothesis testing. Type I and Type II errors. Significance level and power of a test.

Two variable correlation and regression.

Index numbers: measures of inflation and output.

Illustrative reading

Textbook:

Michael Barrow, Statistics for Economics, Accounting and Business Studies, 5th edition, Financial Time Press, Prentice Hall.