ECO1007 : Statistical Methods for Economics - Undergraduate Study

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

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

ECO1007's Reading List

Timetable

Timetable Website: www.ncl.ac.uk/timetable/
ECO1007's Timetable

Module