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 web page

Module aims

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