
Academic Year:  2014/5 
Owning Department/School:  Department of Economics 
Credits:  6 
Level:  Certificate (FHEQ level 4) 
Period: 
Semester 1 
Assessment Summary:  EX 70%, OT 30% 
Assessment Detail: 

Supplementary Assessment: 
Reassessment exam (where allowed by programme regulations) 
Requisites:  
Description:  Aims: Basic statistical knowledge is fundamental to any understanding of applied economic topics (i.e. testing of micro and macro models). The aim, in this respect, is to give students the necessary background for the second semester unit ES10004 Statistics and Data Analysis and second year Introduction to Econometrics. More specifically, the unit aims to provide students with the theoretical foundations to understand the tools of data analysis and the techniques of probability and statistical inference. Learning Outcomes: Students should be able to: * Calculate univariate and multivariate probabilities using a variety of discrete and continuous distributions; * Understand principles of random sampling and construction of sampling distributions; * Understand the principles of parameter estimation. Skills: Statistical skills; problemsolving. Content: PART I: PROBABILITY 1. Probability Theory Random experiments, outcomes and events. The nature of probability. Probability rules. Permutations and combinations. Bayes¿ theorem. 2. Discrete Random Variables and Probability Distributions Random variables. Probability distributions for discrete random variables. 3. Continuous Random Variables and Probability Distributions Continuous random variables. Expectations. The Normal distribution. 4. Jointly distributed random variables Bivariate probabilities. Conditional moments. Conditional moment functions Jointly distributed continuous random variables. PART II: STATISTICAL INFERENCE 4. Sampling and Sampling Distributions Sampling from a population. Sampling distribution of the sampling mean, sample proportion, and sample variance. 5. Estimation Point estimators. Key text: * Statistics for Business and Economics (6th Ed) Newbold, Carlson and Thorne (Prentice Hall 2003). 
Programme availability: 
ES10091 is Compulsory on the following programmes:Department of Economics
