ECO1007 : Statistical Methods for Economics
- Offered for Year: 2020/21
- Module Leader(s): Dr Grega Smrkolj
- Lecturer: Dr Pascal Stiefenhofer
- 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 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
Probability
Discrete and random variables
Probability distributions
The normal distribution
Hypothesis testing
Graphical analysis
Correlation
Simple regression
Interpretation
An introduction to Stata
Teaching Methods
Please note that module leaders are reviewing the module teaching and assessment methods for Semester 2 modules, in light of the Covid-19 restrictions. There may also be a few further changes to Semester 1 modules. Final information will be available by the end of August 2020 in for Semester 1 modules and the end of October 2020 for Semester 2 modules.
Teaching Activities
Category | Activity | Number | Length | Student Hours | Comment |
---|---|---|---|---|---|
Structured Guided Learning | Lecture materials | 36 | 1:00 | 36:00 | 18 non-synchronous lectures equating to 36 student learning hours |
Structured Guided Learning | Academic skills activities | 18 | 1:00 | 18:00 | 9 non-synchronous structured learning activities equating to 18 student learning hours |
Scheduled Learning And Teaching Activities | Small group teaching | 6 | 1:00 | 6:00 | 6 timetabled synchronous small group teaching sessions equating to 6 learning hours |
Scheduled Learning And Teaching Activities | Workshops | 3 | 1:00 | 3:00 | 3 timetabled synchronous computer workshops equating to 3 learning hours |
Scheduled Learning And Teaching Activities | Drop-in/surgery | 5 | 1:00 | 5:00 | Synchronous, online - Q&A |
Guided Independent Study | Independent study | 1 | 132:00 | 132:00 | Reading, enhancing lecture notes, seminar and workshop preparation, group project work, revision. |
Total | 200:00 |
Jointly Taught With
Code | Title |
---|---|
ECO1009 | Analysing Economic Data |
Teaching Rationale And Relationship
Lectures deliver main concepts.
Academic Skills Activities provide extensions to lecture materials.
Seminars and workshops give the opportunity to work through example problems.
Assessment Methods
Please note that module leaders are reviewing the module teaching and assessment methods for Semester 2 modules, in light of the Covid-19 restrictions. There may also be a few further changes to Semester 1 modules. Final information will be available by the end of August 2020 in for Semester 1 modules and the end of October 2020 for Semester 2 modules.
The format of resits will be determined by the Board of Examiners
Exams
Description | Length | Semester | When Set | Percentage | Comment |
---|---|---|---|---|---|
PC Examination | 99 | 1 | A | 50 | 24 hr take home exam |
PC Examination | 99 | 2 | A | 25 | 24hr take home exam. There will be a 24hr window in which to take this pc exam . |
Exam Pairings
Module Code | Module Title | Semester | Comment |
---|---|---|---|
ECO1009 | Analysing Economic Data | 2 | N/A |
Other Assessment
Description | Semester | When Set | Percentage | Comment |
---|---|---|---|---|
Prof skill assessmnt | 2 | M | 25 | Group project 2000 words (with peer review) |
Formative Assessments
Description | Semester | When Set | Comment |
---|---|---|---|
Prob solv exercises | 1 | M | In class tests |
Prob solv exercises | 2 | M | In class tests |
Assessment Rationale And Relationship
Examination ensures learning of theoretical methods.
Group project demonstrates that students can analyse and interpret real world data.
Reading Lists
Timetable
- Timetable Website: www.ncl.ac.uk/timetable/
- ECO1007's Timetable