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Statistics For Economists 1 Ec132 Module Outline 2021

Mr. E. Ndlovu Office: 42 Business Sciences Admin Complex Contact: 0772 367 995/ 0775 652 162 Email: [email protected]

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Rachel Ropafadzo Bahera
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147 views

Statistics For Economists 1 Ec132 Module Outline 2021

Mr. E. Ndlovu Office: 42 Business Sciences Admin Complex Contact: 0772 367 995/ 0775 652 162 Email: [email protected]

Uploaded by

Rachel Ropafadzo Bahera
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
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MIDLANDS STATE UNIVERSITY

P. BAG 9055 Gweru, Zimbabwe


Telephone: (263) 254 260404/260337/260667/260450
Fax: (263) 254 260233/260311
Fax: (263) 254 260233/260311

NAME OF FACULTY …… BUSINESS SCIENCES……………….

NAME of Department__ ECONOMICS__________

Module code and narration …… EC132 STATISTICS FOR


ECONOMISTS1……….

Level and semester …… 1.1…………………..

Study hours or credits/ approximate completion time…………36 hours……………

Name of Lecturer ………… Mr E. Ndlovu……………………….

Contact details of the lecturer ………… 0772 367 995/ 0775 652 162

……… Office 42 Business Sciences Admin Complex…….


Module Overview
This module seeks to lay a foundation in the field of economic statistics by introducing students in
the discipline of Economics to some of the tools they will frequently need to utilise in as far as
economic reasoning is concerned. Decisions are normally based on data collection and analysis.
Topics include Sampling, Data Collection and Presentation, Measures of Central
Tendency/Dispersion and Probability Distributions

Aims of the Module


It is aimed at instilling and stimulating interest in students studying Economics and at the same time
bringing forth the enthusiasm embedded in the discipline. Statistics is used as a tool of not only
understanding economic phenomena but also as a tool of analysis. In this regard students should
find the subject of study a stimulant in as far as digestion of economic matter is concerned. They
should be able to solve everyday business problems using statistics .

Assessment:
Tests and/ or assignments constitute 30% of the final mark. The remaining 70% is from the final
examination. All tests/assignments are compulsory and should be submitted on or before due dates.
In the case of group assignments, every member should contribute equally to the final effort (joint
responsibility).

Additional Requirements for every student taking the Course


1. Scientific Calculator which has statistical functions, nPr, nCr
2. Formula List (these should be photocopied before student leaves Campus)
3. Statistical Tables. (these should be photocopied before student leaves Campus)

Methods of Communication with the Lecturer


There are various methods that can be used to communicate with the lecturer:

1. E-learning. Learners should be registered and have access to their E-learning Account.
2. Whatsapp through a Whatsapp Group. Class Rep should be the main conduit of
communication for common issues.
3. Google Classroom. This is quite convenient for all those with internet access. Both Google
classroom and Whatsapp will be used concurrently in case some learners have no internet
access.
4. Email: [email protected] Please note that it is preferable that assignments be
soft copies only and be sent to the email address as given. Those who can send via Google
class can do so.
5. Phone Calls to 0772 367 995 or 0775 652 162 but only during the day.
MIDLANDS STATE UNIVERSITY
FACULTY OF BUSINESS SCIENCES
DEPARTMENT OF ECONOMICS

STATISTICS FOR ECONOMISTS 1 MODULE OUTLINE (EC132 )

Level : First Years


Prerequisites: None
Duration: One Semester
Lecturer: Mr. E. Ndlovu (0772 367 995)

COURSE CONTENT
Preamble:
This module seeks to lay a foundation in the field of economic statistics by introducing students in the discipline of
Economics to some of the tools they will frequently need to appeal to in as far as economic reasoning is concerned.

Aims:
It is aimed at instilling and stimulating interest in students studying Economics and at the same time bringing forth the
enthusiasm embedded in the discipline. Statistics is used as a tool of not only understanding economic phenomena but also
as a tool of analysis. In this regard students should find the subject of study a stimulant in as far as digestion of economic
matter is concerned. They should be able to solve business problems using statistics.

Assessment: Tests and/ or assignments constitute 30% of the final mark. The remaining 70% is from the final examination.
All tests/assignments are compulsory.

INTRODUCTION
 Definition of Statistics
 Role of Statistics
 Descriptive and inferential statistics
 Types of data
 Population and sample

COLLECTION AND PRESENTATION OF DATA


 Discrete and continuous Data
 Data collection methods and sampling techniques
 Data presentation

FREQUENCY DISTRIBUTIONS
 Grouped and ungrouped data
 Frequency tables and polygons
 Relationship between histograms and polygons
 Ogive, relative frequency curves, percentage frequency polygon
 Relationship between Ogive and histograms

MEASURES OF CENTRAL TENDENCY/LOCATION


 Calculation of mean, mode and median using grouped and ungrouped data
 Determination of these measures using the graphical method
 Quartiles, percentiles and deciles
 Types of means- weighted, arithmetic, geometric, harmonic.
MEASURES OF DISPERSION
 Calculation of average deviation
 Variance and standard deviation
 Coefficient of variation
 Range and interquartile range

MEASURES OF SKEWNESS AND ASYMMETRY


 Pearsonian coefficient of skewness
 Measuring skewness using the principle of moments
 Measure of peakedness/Kurtosis
 Measuring peakedness using moments

INTRODUCTION TO PROBABILITY
 Random experiments, outcomes and events
 Venn and Tree diagrams
 Permutations and Combinations
 Laws of probability
 Conditional probability and statistical independence
 Baye’s theorem

PROBABILITY DISTRIBUTIONS
 Discrete and continuous probability distributions
 Discrete and continuous random variables
 Expected value and variance
 Binomial probability distributions
 Poisson probability distributions
 Normal probability distributions
 Normal approximation to the Binomial distribution

RECOMMENDED TEXTBOOKS
 Anderson D et al Statistics for Business and Economics
 Bluman, A.G. (2006) Elementary Statistics :A Brief Version, McGraw Hill
 Chandan J.T Statistics for Business Economics
 Francis A. (2004) Business Maths and Statistics, Thomson Learning
 McClave J.T.et al(1997) A First Course in Business Statistics, Prentice Hall
 Newbold P Statistics for Business and Economics
 Freund J.E et al (1993). Elementary Business Statistics- The Modern Approach; Prentice Hall, Inc.
 Newbold P- Statistics for Business and Economics. ; Macmillan, USA.

Please note that this list of reference texts is not exhaustive.

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