Available to incoming Study Abroad and Exchange students
Module Leader(s): Dr Grega Smrkolj
Lecturer: Dr Pascal Stiefenhofer, Dr Saumik Paul
Owning School: Newcastle University Business School
Teaching Location: Newcastle City Campus
Semesters
Semester 1 Credit Value:
10
Semester 2 Credit Value:
10
ECTS Credits:
10.0
Aims
To develop an understanding of basic probability theory, so that decision making under uncertainty can be analysed.
To develop an understanding of statistical inference as a foundation for applied economics.
This module is an introduction to statistics and data analysis for economists. The first semester deals with the fundamental issues of statistics, building from basic probability theory, through sampling, distributions, hypothesis testing and interpretation. A wide range of examples is considered. The second semester moves into data analysis. We use a variety of statistical methods to investigate and interpret real world data.
The module will also include an introduction to statistical software.
Outline Of Syllabus
Probability
Discrete and Continuous Random Variables
Probability Distributions
Estimation and Sampling Distributions
Hypothesis Testing
Describing Data
Learning from Data
Graphical and Numerical Analysis of Data
Correlation versus Causation
Introduction to Regression Analysis
Multiple Regression
Statistical inference for Regression: Hypothesis Testing, Confidence Intervals, Prediction
Nonlinear Models
Estimation Problems
An introduction to Stata
Teaching Methods
Teaching Activities
Category
Activity
Number
Length
Student Hours
Comment
Guided Independent Study
Assessment preparation and completion
1
60:00
60:00
N/A
Scheduled Learning And Teaching Activities
Lecture
16
2:00
32:00
PiP Lectures
Guided Independent Study
Directed research and reading
1
64:00
64:00
N/A
Scheduled Learning And Teaching Activities
Small group teaching
3
1:00
3:00
PiP Seminars
Scheduled Learning And Teaching Activities
Small group teaching
3
1:00
3:00
PiP PC Labs
Guided Independent Study
Independent study
1
38:00
38:00
N/A
Total
200:00
Jointly Taught With
Code
Title
ECO1009
Analysing Economic Data
Teaching Rationale And Relationship
Lectures deliver the main concepts.
Seminars and PC labs provide students with an opportunity to enhance both theoretical and practical (computer-based) aspects of statistical analysis.
Assessment Methods
The format of resits will be determined by the Board of Examiners
Exams
Description
Length
Semester
When Set
Percentage
Comment
Written Examination
90
1
A
50
When social-distancing measures prevent PiP invigilated examinations, this will be an online, time-limited PC exam.
Written Examination
60
2
A
25
When social-distancing measures prevent PiP invigilated examinations, this will be an online, time-limited PC exam
Written examination ensures learning of theoretical concepts and is an appropriate way to assess problem solving skills under the time constraint as required in industry.
In the case of alternative assessments for semester 1 (50% of the module mark) and Semester 2 (25% of the module mark) being necessary due to circumstances, the Module Leader will in discussion with the DPD and the University, discuss possible acceptable online alternatives, such as a take home exam delivered online with a set time limit to complete (24 hours or less as deemed appropriate).
Group project demonstrates that students can analyse and interpret real world data.
