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. The module forms part of the first year core cluster EC120 Quantitative Techniques, which is made up of one module in Mathematical Techniques (A (EC121) or B (EC123)), one module in Statistical Techniques (A (EC122) or B (EC124)) as well as Computing and Data Analysis (EC125).
Principal Learning Outcomes
To acquire the tools of quantitative methods necessary to study core and optional first and second year modules in economics for the single honours course 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.
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.
- Optional Core Module
- LM1D (LLD2) - Year 1, V7ML - Year 1, L1L8 - Year 1, R3L4 - Year 1, R4L1 - Year 1, R2L4 - Year 1, R1L4 - Year 1
- Pre or Co-requisites
- At least a grade A in GCSE Mathematics, or equivalent.
- Pre-requisite for
- 12 CATS - This module is restricted to LM1D/LLD2, V7ML and Joint Economics and Modern Language students and L1L8 students on Route B.
15 CATS - This module is restricted to L1L8 students
- Part-year Availability for Visiting Students
- 12 CATS - Available in the Spring term only (2 x test - 9.6 CATS) and in the Spring and Summer terms together (2 x tests and 1 x 1.5 hour exam – 12 CATS)
15 CATS - Not available on a part-year basis
- Assessment Method
- Coursework (25%) + 1.5 hour exam (75%)
- Coursework Details
- 12 CATS - Two 50 min tests (1 x 12% + 1 x 13%)
15 CATS - Two 50 min tests (1 x 10% + 1 x 10%) + Statistical Project - 1200 words (10%)
- Exam Timing
Time Allowed: 1.5 Hours, plus 15 minutes reading time during which notes may be made (on the question paper) BUT NO ANSWERS MAY BE BEGUN.
Answer ALL SEVEN questions. Answer questions 1-4 in one booklet and questions 5-7 in a separate booklet
Approved pocket calculators are allowed. Statistical tables and a formula sheet are provided.
Read carefully the instructions on the answer book provided and make sure that the particulars required are entered on each answer book.
Previous exam papers can be found in the University’s past papers archive. Please note that previous exam papers may not have operated under the same exam rubric or assessment weightings as those for the current academic year. The content of past papers may also be different.