ECO1007 : Statistical Methods for Economics

Semester 1 Credit Value: 10
Semester 2 Credit Value: 10
ECTS Credits: 10.0


To develop an understanding of basic probability theory, so that decision making under uncertainty can be analysed.
To develop and understanding of estimation and inference as a foundation for applied economics.

This module is an introduction to statistics and data manipulation for economists. The first semester of the course deals with the fundamental issues of statistics building from basic probability theory, through sampling, distributions, hypothesis testing and interpretation. A wide range of examples are considered. The second semester moves into data analysis - how we explore and analyse data. We use a variety of statistical methods to investigate and interpret real world data.

The module will also include an introduction to analytical software.

Outline Of Syllabus

Discrete and random variables
Probability distributions
The normal distribution
Hypothesis testing
Graphical analysis
Simple regression
An introduction to Stata

Teaching Methods

Teaching Activities
Category Activity Number Length Student Hours Comment
Guided Independent StudyAssessment preparation and completion159:0059:00N/A
Scheduled Learning And Teaching ActivitiesLecture291:0029:00N/A
Guided Independent StudyDirected research and reading150:0050:00N/A
Scheduled Learning And Teaching ActivitiesSmall group teaching121:0012:00N/A
Guided Independent StudyIndependent study150:0050:00N/A
Jointly Taught With
Code Title
ECO1005Economic Applications and Data Analysis
Teaching Rationale And Relationship

Lectures deliver main concepts
Seminars and workshops give the opportunity to work through example problems

Assessment Methods

The format of resits will be determined by the Board of Examiners

Description Length Semester When Set Percentage Comment
Written Examination601A50N/A
Written Examination602A25N/A
Exam Pairings
Module Code Module Title Semester Comment
ECO1005Economic Applications and Data Analysis2N/A
Other Assessment
Description Semester When Set Percentage Comment
Prof skill assessmnt2M25Group project
Assessment Rationale And Relationship

Exam and in-class test ensures learning of theoretical methods
Group project demonstrates that students can analyse and interpret real world data

Resit examination will be a 120 minute unseen written examination (no credit for project work)

Reading Lists