EC122-15 Statistical Techniques A
Introductory description
This module allows the students to become familiar with the basic concepts of statistics, including graphical analysis and simple calculations conducted on the data. It is intended to provide the students with basic data analysis skills as well as the foundations, necessary for the second year econometrics module.
Module aims
To provide an introduction to statistical ideas in economic and social studies, probability theory and techniques of statistical inference. The module provides a foundation in statistics necessary for core and optional modules in economics for PPE and EPAIS degree courses. It does not satisfy the requirement for EC226 Econometrics 1.
Outline syllabus
This is an indicative module outline only to give an indication of the sort of topics that may be covered. Actual sessions held may differ.
Descriptive Statistics; Measures of location, dispersion, and asymmetry. Measurement of inequality, the Lorenz curve and the Gini coefficient; Probability theory; The concept of probability, events, The rules of probability. Independent events. Random variables and probability distributions. Discrete random variables: Bernoulli, binomial, Poisson. Expectations and variance. Continuous random variables: uniform, Gaussian (‘Normal’) distributions; The distinction between risk and uncertainty. Bivariate probability distributions; joint, marginal and conditional probability distributions; covariance and correlation. Statistical Inference; Sampling and sampling distributions for means and proportions. Applications 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. Testing for dependence between two variables.
Learning outcomes
By the end of the module, students should be able to:
- To acquire the tools of quantitative methods necessary to study core and optional first and second year modules in economics.
- To develop further their techniques of statistical methods and statistical modelling;
- To generate an awareness and analysis of data and of data handling.
Indicative reading list
Please see Talis Aspire link for most up to date list.
View reading list on Talis Aspire
Subject specific skills
Students will have the opportunity to develop skills in:
Analytical thinking and communication
Analytical reasoning
Critical thinking
Problem-solving
Abstraction
Policy evaluation
Concepts of Simultaneity and Endogeneity
Understanding of Uncertainty and Incomplete Information
Transferable skills
Students will have the opportunity to develop:
Research skills
Numeracy and quantitative skills
Data-based skills
IT skills
Written communication skills
Oral communication skills
Mathematical, statistical and data-based research skills
Study time
Type | Required |
---|---|
Lectures | 10 sessions of 2 hours (13%) |
Seminars | 4 sessions of 1 hour (3%) |
Demonstrations | 4 sessions of 1 hour (3%) |
Private study | 122 hours (81%) |
Total | 150 hours |
Private study description
Private study will be required in order to prepare for seminars/classes, to review lecture notes, to prepare for forthcoming assessments, tests, and exams, and to undertake wider reading around the subject.
Costs
No further costs have been identified for this module.
You do not need to pass all assessment components to pass the module.
Assessment group D2
Weighting | Study time | Eligible for self-certification | |
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1200 word Statistical Project | 10% | Yes (extension) | |
Test 1 | 12% | No | |
50 minute online test |
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Test 2 | 12% | No | |
50 minute online test |
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6 x problem sets | 6% | Yes (waive) | |
Set of six multiple choice problem sets (1% each) |
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Online Examination | 60% | No | |
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Feedback on assessment
The Department of Economics is committed to providing high quality and timely feedback to students on their assessed work, to enable them to review and continuously improve their work. We are dedicated to ensuring feedback is returned to students within 20 University working days of their assessment deadline. Feedback is returned on a standardised assessment feedback cover sheet which gives information both by tick boxes and by directed comments. Students are informed how to access their feedback, either by collecting from the Undergraduate Office, from seminar tutors or within their seminar group sessions. Module leaders provide generic feedback for the cohort in addition to the individual-specific feedback on assessment performance.
Pre-requisites
At least a grade A in GCSE Mathematics, or equivalent.
Courses
This module is Core optional for:
- Year 1 of UIPA-L1L8 Undergraduate Economic Studies and Global Sustainable Development
This module is Core option list A for:
- Year 1 of UIPA-L1L8 Undergraduate Economic Studies and Global Sustainable Development