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Introduction to Statistics

Module title	Introduction to Statistics
Module code	BEE1022
Academic year	2024/5
Credits	15
Module staff	Dr Eva Poen (Convenor) Dr Sarah Schneider-Strawczynski (Convenor)

Duration: Term	1	2	3
Duration: Weeks	11	0	0

Number students taking module (anticipated)	280

Module description

Summary:?  
This module aims to equip students with the knowledge, skills and understanding of statistics and probability that are required for the study of modern economics at undergraduate level.   

Module aims - intentions of the module

Intended Learning Outcomes (ILOs)

ILO: Module-specific skills

On successfully completing the module you will be able to...

• 1. Construct charts and calculate appropriate descriptive statistics to summarise a data set
• 2. Demonstrate understanding of discrete and continuous random variables, their marginal and joint probability distributions and their moments
• 3. Solve a range of problems involving probability
• 4. Conduct hypothesis tests and interpret their results
• 5. Demonstrate understanding of the basic properties of time series data
• 6. Use MS Excel competently to organise data, calculate descriptive statistics and work with probabilities

ILO: Discipline-specific skills

On successfully completing the module you will be able to...

• 7. Demonstrate awareness of the role of numerical evidence in economics
• 8. Demonstrate understanding of the advantages, disadvantages, and limitations of different quantitative methods

ILO: Personal and key skills

On successfully completing the module you will be able to...

• 9. Demonstrate quantitative, computational and computer literacy skills

Syllabus plan

Syllabus:

• Descriptive statistics
• Probability
• Discrete and continuous random variables
• Bivariate distributions, conditional probabilities and conditional means
• Covariance, correlation, independence
• The expectation operator
• Moments of random variables
• Sampling distributions of the sample mean and the sample proportion
• Confidence intervals for the population mean and population proportion
• Hypothesis tests about the population mean and population proportion
• Introduction to basic concepts in the analysis of time series data
• Confidence intervals for the population variance
• Variance ratio test
• Test for independence and goodness-of-fit test

Throughout the course: The use of MS Excel for descriptive statistics, probability, time series and inference.

Learning activities and teaching methods (given in hours of study time)

Scheduled Learning and Teaching Activities	Guided independent study	Placement / study abroad
32	118	0

Details of learning activities and teaching methods

Category	Hours of study time	Description
Scheduled learning and teaching activity	22	Lectures
Scheduled learning and teaching activity	10	Tutorials or classes
Guided independent study	118	Reading, question practice, class and assessment preparation

Formative assessment

Form of assessment	Size of the assessment (eg length / duration)	ILOs assessed	Feedback method
Weekly exercises	50 minutes	1-9	In class

Summative assessment (% of credit)

Coursework	Written exams	Practical exams
10	70	20

Details of summative assessment

Form of assessment	% of credit	Size of the assessment (eg length / duration)	ILOs assessed	Feedback method
Five online homework quizzes	10	ca. 30 minutes each	1-6	ELE
Excel based exam	20	Up to 15 questions/1500 words	1-4,6,9	ELE
Final examination	70	1.5 hous	1-9	Final grade; feedback will be posted on ELE
	0
	0

Details of re-assessment (where required by referral or deferral)

Original form of assessment	Form of re-assessment	ILOs re-assessed	Timescale for re-assessment
Five online homework quizzes (10%)	Single online homework quiz (10%)	1-6	August/September reassessment period
Excel based exam (20%)	Excel based exam ( up to 15 questions / 1500 words)	1-4,6,9	August/September reassessment period
Final examination (70%)	Examination (1.5 hours, 70%)	1-9	August/September reassessment period

Re-assessment notes

Referrals and deferrals will normally take place in the August/September Reassessment Period

If you pass the module overall, you will not be referred in any component – even if you have not passed one or more individual components.

Indicative learning resources - Basic reading

Indicative reading list: selected chapters of some or all of the following textbooks:

• Utts, Jessica M and Heckard, Robert F. (2015), Mind on Statistics, 5^th edition, Cengage Learning. ISBN: 978-1-285-46318-6
• Barrow, M. (2017) Statistics for Economics, Accounting & Business Studies, 7th edition, Harlow: Pearson Education
• Cortinhas, C. and Black, K. (2012), Statistics for Business and Economic, 1st European Edition, Chichester: John Wiley and Sons, Ltd. ISBN: 978-1-119-99366-7
• Peck, R., Short, T. and Olsen, C. (2020), Introduction to Statistics and Data Analysis, 6^th edition, Cengage Learning. ISBN: 978-1-337-79361-2
• Anderson, D., Sweeney, D., Williams, T., Camm, J., Cochran, J., Fry, M. and Ohlmann, (2020) ‘Essentials of Statistics for Business and Economics’, Cengage Learning, ISBN: 978-0-357-04543-5

Indicative learning resources - Web based and electronic resources

ELE – College to provide hyperlink to appropriate pages

Indicative learning resources - Other resources

None

Credit value	15
Module ECTS	7.5
Module pre-requisites	Grade B or higher in A-Level Mathematics (or equivalent)
Module co-requisites	Cannot be taken with BEE1025, BEM1024 or BEA1014 This module is not available to Maths students
NQF level (module)	4
Available as distance learning?	No
Origin date	01/09/2006
Last revision date	12/04/2024