# BSc International Business, Finance and Economics with Industrial/Professional Experience

Year of entry: 2020

Unit code ECON20072 10 Level 2 Semester 2 Economics Yes

### Overview

Introduction to fundamental methods of statistics, which are the basis of techniques widely used in the analysis of economic and social data. The module is designed for students who have Maths A-Level or equivalent.

### Pre/co-requisites

Unit title Unit code Requirement type Description
Introductory Statistics for Economists SOST10062 Pre-Requisite Compulsory
SOST10062

SOST10062 Intro Stats for Economists

### Aims

Introduction to fundamental methods of statistics, which are the basis of techniques widely used in the analysis of economic and social data. The course is designed for students who have Maths A-Level or equivalent.

### Learning outcomes

At the end of this course, you should be able to:

1. Construct and understand essential descriptive statistics for sample data (means, variances, correlations, regression coefficients).
2. Manipulate conditional and unconditional probability.
3. Obtain and manipulate probabilities from important statistical distributions (including the Binomial, Normal and Student-t).
4. Understand and use key statistical concepts (including population, expectation, estimation).
5. Construct and interpret confidence intervals for population means and proportions.
6. Carry out and interpret simple hypothesis tests of relevance in the social sciences.

### Syllabus

1. Introduction and Descriptive Statistics.
2. Probability and Discrete Random Variables (means and variances).
3. Continuous Random Variables (means, variances, Normal distribution).
4. Expectations and Combinations of Variables (means, variances, joint probability distributions,
covariances, correlation, independence).
5. Sampling Distributions (samples, populations, properties).
6. Hypothesis Testing (sample means and proportions, large sample tests).
7. More Statistical Inference (confidence intervals, p-values).

### Teaching and learning methods

Lectures and exercise classes.

### Employability skills

Analytical skills
Synthesis and analysis of data and information.
Problem solving
Other
Numeracy. Time Management.

Method Weight
0%

### Feedback methods

• Weekly exercise classes.
• Online quizzes.
• PASS groups.
• Office hours.

All students are expected to download the detailed module notes. These form the basis of the lecture and tutorial material.

Many introductory statistics books cover the material in the module. Multiple copies of the following texts are available in the Main and Precinct Centre libraries:

Newbold, Carlson and Thorne (2009), Statistics for Business and Economics ,

Wonnacott and Wonnacott (1990), Introductory Statistics for Business and Economics

### Study hours

Independent study hours
Independent study 0

### Teaching staff

Staff member Role
Simon Peters Unit coordinator