Skip to main content
NounStudy
Back to Course Catalog
ECO452Social Sciences2 Unitsintermediate

Applied Statistics

This course, Applied Statistics (ECO 452), is designed for fourth-year economics students. It provides an in-depth understanding of statistical tools used by economists. The course covers sampling distributions, probability distributions, analysis of variance and covariance, multiple regression analysis, time series analysis, and index numbers. Students will learn to apply these statistical methods to economic theories and conduct analyses effectively.

Generate AI Study Notes

Transform this course into personalized study materials with AI

195h
Study Time
13
Weeks
15h
Per Week
intermediate
Math Level
Course Keywords
Applied StatisticsSamplingRegressionTime SeriesIndex Numbers

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
Hands-on Practice

Course Topics

Key areas covered in this course

1

Sampling Distributions

2

Probability Distributions

3

Analysis of Variance

4

Multiple Regression Analysis

5

Time Series Analysis

6

Index Numbers

Total Topics6 topics

Requirements

Knowledge and skills recommended for success

Introductory Statistics

Basic Econometrics

💡 Don't have all requirements? Don't worry! Many students successfully complete this course with basic preparation and dedication.

Assessment Methods

How your progress will be evaluated (3 methods)

assignments

Comprehensive evaluation of course material understanding

Written Assessment

tutor-marked assignments

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

Market Research Analyst

Apply your skills in this growing field

Industry Applications

Real-world sectors where you can apply your knowledge

FinanceEconomicsMarket ResearchGovernmentConsulting

Study Schedule Beta

A structured 13-week journey through the course content

Week
1

MODULE ONE: Statistical Inference

5h

Unit 1: Sampling distribution defined

5 study hours
  • •Define population, sample, and sampling theory.
  • •Discuss assumptions of normal distribution.
  • •Evaluate parameter estimation.
  • •Estimate sample mean and population mean.
Week
2

MODULE ONE: Statistical Inference

5h

Unit 2: Sampling distribution of proportion

5 study hours
  • •Calculate sampling distribution of proportion.
  • •Calculate standard error.
  • •Understand parameter estimation.
  • •Compute confidence intervals.
Week
3

MODULE ONE: Statistical Inference

5h

Unit 3: Sampling distribution of difference and sum of two means

5 study hours
  • •Calculate sampling distribution of sum of two means.
  • •Calculate sampling distribution of difference of two means.
  • •Apply formulas to solve problems.
Week
4

MODULE ONE: Statistical Inference

5h

Unit 4: Probability distribution

5 study hours
  • •Describe the concept of probability.
  • •Explain different probability distributions.
  • •Calculate binomial, Poisson, and normal distributions.
  • •Solve related problems.
Week
5

MODULE TWO: Analysis of variance and analysis of covariance

5h

Unit 1: One-way factor analysis of variance

5 study hours
  • •Understand the logic of ANOVA.
  • •Calculate total sum of squares.
  • •Calculate sum of squares between groups and within groups.
  • •Compute F-statistic.
Week
6

MODULE TWO: Analysis of variance and analysis of covariance

5h

Unit 2: Two-way factor analysis of variance

5 study hours
  • •Explain the meaning of two-way ANOVA.
  • •Test for two null hypotheses of two-way ANOVA.
  • •Evaluate two-way ANOVA.
  • •Understand interaction effects.
Week
7

MODULE TWO: Analysis of variance and analysis of covariance

5h

Unit 3: Analysis of covariance

5 study hours
  • •Define analysis of covariance.
  • •Define covariate and adjusted Y.
  • •Develop table of analysis of covariance.
  • •Calculate terms for ANCOVA table.
Week
8

MODULE 3: Multiple Regression Analysis

5h

Unit 1: Estimation of multiple regressions

5 study hours
  • •Regress independent variables on the dependent variable.
  • •Understand parameter estimates.
  • •Calculate values of bo, b1, b2, ... bn.
  • •Test for significance.
Week
9

MODULE 3: Multiple Regression Analysis

5h

Unit 2: Partial correlation coefficient

5 study hours
  • •Explain the meaning of correlation coefficient.
  • •Discuss assumptions of correlation.
  • •Explain goals of correlations.
  • •Analyze correlation coefficient.
Week
10

MODULE 3: Multiple Regression Analysis

5h

Unit 3: Multiple correlation coefficient and coefficient of determination

5 study hours
  • •Estimate multiple correlation coefficient (R).
  • •Estimate coefficient of determination.
  • •Interpret results.
  • •Understand the relationship between R and R^2.
Week
11

MODULE 3: Multiple Regression Analysis

5h

Unit 4: Overall test of significance

5 study hours
  • •Calculate F-statistics.
  • •Check corresponding tabulated value of F-statistics.
  • •Compare F-statistics and F-tab.
  • •Interpret results.
Week
12

MODULE 4: Time series analysis

5h

Unit 1: Time series and its components

5 study hours
  • •Define time series.
  • •Explain components of time series.
  • •Understand methods of estimating time series.
  • •Estimate and graphically represent the trend.
Week
13

MODULE 4: Time series analysis

5h

Unit 2: Quantitative estimation of time series

5 study hours
  • •Estimate time series data.
  • •Understand methods of estimating time series.
  • •Estimate and graphically represent the trends.
  • •Apply least square and moving average methods.

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

Read the complete course material as provided by NOUN.

Access PDF Material

Study Tips & Exam Preparation

Expert tips to help you succeed in this course

1

Review all Tutor Marked Assignments (TMAs)

2

Focus on understanding key formulas and their applications

3

Practice solving numerical problems from each unit

4

Create concept maps linking modules and units

5

Allocate equal time to each module during revision

6

Prioritize understanding over memorization

Related Courses

Other courses in Social Sciences that complement your learning

DES419

Industrialisation and Development

3 Units
CSS491

Emergency, Riot And Disaster Control Management

3 Units
ECO442

Advanced Macro Economics

2 Units
View All Social Sciences Courses