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Module

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 LearningLecture materials361:0036:0018 non-synchronous lectures equating to 36 student learning hours
Structured Guided LearningAcademic skills activities181:0018:009 non-synchronous structured learning activities equating to 18 student learning hours
Scheduled Learning And Teaching ActivitiesSmall group teaching61:006:006 timetabled synchronous small group teaching sessions equating to 6 learning hours
Scheduled Learning And Teaching ActivitiesWorkshops31:003:003 timetabled synchronous computer workshops equating to 3 learning hours
Scheduled Learning And Teaching ActivitiesDrop-in/surgery51:005:00Synchronous, online - Q&A
Guided Independent StudyIndependent study1132:00132:00Reading, enhancing lecture notes, seminar and workshop preparation, group project work, revision.
Total200:00
Jointly Taught With
Code Title
ECO1009Analysing 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 Examination991A5024 hr take home exam
PC Examination992A2524hr take home exam. There will be a 24hr window in which to take this pc exam .
Exam Pairings
Module Code Module Title Semester Comment
ECO1009Analysing Economic Data2N/A
Other Assessment
Description Semester When Set Percentage Comment
Prof skill assessmnt2M25Group project 2000 words (with peer review)
Formative Assessments
Description Semester When Set Comment
Prob solv exercises1MIn class tests
Prob solv exercises2MIn 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