EC122: Statistical Techniques A
Farzad Javidanrad
Module Leader
Subhasish Dey
Module Lecturer
Introduction
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, to provide an introduction to conducting statistical analysis using advanced statistical package. as well as develop the foundations, necessary for the second year econometrics module.
Principal Aims
To provide an introduction to statistical ideas in economic and social studies, probability theory and techniques of statistical inference. To develop basic statistical and computing skills for analysing economic data: students will be introduced to advanced statistical software packages and will learn how to describe and analyse data. 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.
Principal Learning Outcomes
:...acquire the tools of quantitative methods necessary to study core and optional first and second year modules in economics.
:...develop further their techniques of statistical methods and statistical modelling;
:...generate an awareness and analysis of data and of data handling through the use of statistical software.
Syllabus
Descriptive Statistics; Measures of location, dispersion, and asymmetry. 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, 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, chi-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.
Context
- Optional Core Module
- L1L8 - Year 1, V7ML - Year 1, R9L1 - Year 1, R3L4 - Year 1, LM1D (LLD2) - Year 1, R4L1 - Year 1, R1L4 - Year 1
- Pre or Co-requisites
- At least a grade A in GCSE Mathematics, or equivalent.
Assessment
- Assessment Method
- Coursework (30%) + Centrally-timetabled examination (On-campus) (70%)
- Coursework Details
- 1200 word Statistical Project (20%) , 5 x problem sets (10%) , Centrally-timetabled examination (On-campus) (70%)
- Exam Timing
- Summer
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
Transferable Skills
- Students will have the opportunity to develop:
- Research skills
- Numeracy and quantitative skills
- Data management and basic computational skills
- IT skills
- Team-work skills
- Report writing skills
- Communication skills
Exam Rubric
Time Allowed: 2 hours
Read all instructions carefully - and read through the entire paper at least once before you start entering your answers.
A formula sheet and statistical tables are provided.
There are THREE sections in this paper. Answer ALL TEN questions in Section A (40 marks in total) and BOTH questions in Section B (30 marks in total), and BOTH questions in Section C (30 marks in total).
Use separate booklets as instructed below.
• Use the MCQ sheet for Section A questions.
• Use a PINK booklet for Section B questions.
• Use a SEPARATE PINK booklet for Section C questions.
You must write the number(s) of the question(s) you have answered on the front cover of each booklet. Make sure the numbers are clearly visible and correspond to the questions you completed inside that booklet.
Approved scientific (non-graphical) pocket calculators are allowed.
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.