This module introduces students to the basic concepts of probability and statistics, with applications to a variety of topics illustrated with real data. The techniques that are discussed can be used in their own right to solve simple problems, but also serve as an important foundation for later, more advanced, modules. Importantly, the module serves as a prerequisite for Stage 2 econometric modules ECON5800 and ECON5810.
The module commences with an overview of descriptive statistics. It then considers the key ideas in probability theory before moving on to statistical inference - the science of drawing conclusions from data. The main topics covered in the module include:
• Graphical and numerical analyses of data
• The principles of probability
• Probability Density Functions
• Sampling and its use in inference
• Regression and correlation
Total contact hours: 32
Private study hours: 118
Total study hours: 150
This module is compulsory for all students studying single and joint honours degrees in Economics.
This module is not available to students across other degree programmes in the University.
• Term-time problem sets (20%)
• In Course Test 105 minutes (20%)
• Examination 2 hours (60%)
Reassessment: 100% exam
*Exams will be in-person*
See the library reading list for this module (Canterbury)
On successfully completing the module students will be able to:
8.1 Organise, describe and summarise data
8.2 Understand the principles of probability
8.3 Understand the principles underlying sampling theory
8.3 Apply hypothesis testing and interval estimation to sample data
8.4 Use regression analysis to consider relationships between two variables
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