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DAM363Sciences2 Unitsintermediate

Economic Statistics

This course introduces students to the fundamental concepts of economic statistics and their application to real-world economic problems. It covers descriptive statistics, measures of location and dispersion, probability theory, statistical inference, index numbers, purchasing power parity, human development, corruption indices, and economic liberalization. The course aims to equip students with the tools to analyze economic data and make informed decisions.

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208h
Study Time
13
Weeks
16h
Per Week
intermediate
Math Level
Course Keywords
Economic StatisticsIndex NumbersPurchasing Power ParityHypothesis TestingData Analysis

Course Overview

Everything you need to know about this course

Course Difficulty

Intermediate Level
Builds on foundational knowledge
65%
intermediate
📊
Math Level
Moderate Math
📖
Learning Type
Theoretical Focus

Course Topics

Key areas covered in this course

1

Descriptive Statistics

2

Probability Theory

3

Statistical Inference

4

Index Numbers

5

Purchasing Power Parity

6

Human Development

7

Corruption Indices

8

Economic Liberalization

Total Topics8 topics

Ready to Start

No specific requirements needed

This course is designed to be accessible to all students. You can start immediately without any prior knowledge or specific preparation.

Assessment Methods

How your progress will be evaluated (3 methods)

assignments

Comprehensive evaluation of course material understanding

Written Assessment

tutor-marked assessments

Comprehensive evaluation of course material understanding

Written Assessment

final examination

Comprehensive evaluation of course material understanding

Written Assessment

Career Opportunities

Explore the career paths this course opens up for you

Economist

Apply your skills in this growing field

Statistician

Apply your skills in this growing field

Data Analyst

Apply your skills in this growing field

Financial Analyst

Apply your skills in this growing field

Policy Analyst

Apply your skills in this growing field

Industry Applications

Real-world sectors where you can apply your knowledge

Government AgenciesFinancial InstitutionsResearch OrganizationsConsulting FirmsInternational Organizations

Study Schedule Beta

A structured 13-week journey through the course content

Week
1

Module 1: Introduction to Economic Statistics

2h

Unit 1: Statistics as an Applied Tool to Economic Problems

2 study hours
  • •Read Unit 1: Understand the definition of statistics and its application to economic problems.
  • •Identify and differentiate between primary and secondary data.
  • •Describe various sampling techniques and their uses.
Week
2

Module 1: Introduction to Economic Statistics

2h

Unit 2: Descriptive Statistics: Measures of Location

2 study hours
  • •Calculate the arithmetic mean for grouped and ungrouped data.
  • •Determine the median and mode for various data sets.
  • •Discuss the advantages and disadvantages of measures of location.
Week
3

Module 1: Introduction to Economic Statistics

2h

Unit 3: Descriptive Statistics: Measures of Dispersion

2 study hours
  • •Calculate the range, interquartile range, and standard deviation.
  • •Compare different measures of dispersion and their applications.
  • •Determine deciles and percentiles for a given data set.
Week
4

Module 1: Introduction to Economic Statistics

2h

Unit 4: Introduction to Probability and Distribution

2 study hours
  • •Explain basic probability concepts and approaches.
  • •Apply rules of probability to solve problems.
  • •Understand random variables and probability distributions.
Week
5

Module 2: Statistical Inference

2h

Unit 1: Estimation

2 study hours
  • •Explain the concept of estimation and different types of estimators.
  • •Calculate confidence intervals for population means.
  • •Understand the uses of sampling for making inferences.
Week
6

Module 2: Statistical Inference

2h

Unit 2: Hypothesis Testing

2 study hours
  • •Explain the basic concepts of hypothesis testing.
  • •Identify test statistics and rejection regions.
  • •Perform hypothesis tests on the differences between two means.
Week
7

Module 3: Index Number

2h

Unit 1: Basic Understanding of Index Number

2 study hours
  • •Understand the basic concepts of index numbers.
  • •Calculate simple and weighted price indexes.
  • •Apply index numbers to economic problems.
Week
8

Module 3: Index Number

2h

Unit 2: CPI and other Forms of Index Number

2 study hours
  • •Calculate CPI and other forms of index numbers.
  • •Apply CPI to deflate a time series.
  • •Understand the uses of producer price indexes and GDP deflator.
Week
9

Module 3: Index Number

4h

Unit 3: Application of Index Number to Economic Problems

2 study hours
  • •Apply index numbers to solve economic problems.
  • •Measure macroeconomic variables using real and nominal values.
  • •Understand the applications of index numbers in economic analysis.

Unit 4: Measure of Macroeconomic Variables (Real and Nominal Values)

2 study hours
  • •Differentiate between real and nominal values.
  • •Apply real and nominal values to measure macroeconomic variables.
Week
10

Module 4: Purchasing Power Parity

2h

Unit 1: The Meaning of Purchasing Power Parity

2 study hours
  • •Understand the meaning of purchasing power parity (PPP).
  • •Explain PPP as an exchange rate determination.
  • •Discuss the problems with the PPP theory.
Week
11

Module 4: Purchasing Power Parity

2h

Unit 2: Purchasing Power Parity as Exchange Rate Determination

2 study hours
  • •Apply PPP to analyze exchange rate determination.
  • •Understand the PPP equilibrium story and its implications.
Week
12

Module 5: Human Development

2h

Unit 1: Human Development Indices

2 study hours
  • •Explain the concept of human development and its measurement.
  • •Understand human development indices and their components.
Week
13

Module 6: Measure of Corruption

2h

Unit 1: Measure of Corruption as a Menace to the Economy

2 study hours
  • •Describe the basic concept of corruption indices.
  • •Explain the effects and problems of corruption on the economy.
  • •Discuss solutions to the problems of corruption.

This study schedule is in beta and may not be accurate. Please use it as a guide and consult the course outline for the most accurate information.

Course PDF Material

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Study Tips & Exam Preparation

Expert tips to help you succeed in this course

1

Review all unit objectives and ensure you can meet them.

2

Practice solving numerical problems from each unit, focusing on index numbers and hypothesis testing.

3

Create summaries of key concepts and formulas for quick reference.

4

Allocate sufficient time to review tutor-marked assignments and understand the feedback.

5

Focus on understanding the assumptions and limitations of each statistical method.

6

Practice applying statistical tools to real-world economic scenarios.

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