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It is a University which is committed to excellence and overall development of the student and one where talent is nurtured and honed in the best possible manner. Come, be a part of our never-ending journey of accomplishments and accolades.

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To stimulate curiosity and cater to the global needs of a dynamic education, The IIS University - since inception - has been promoting and encouraging research-based experiential learning among all its students.

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IIS Univ
  • Admissions

    It is a University which is committed to excellence and overall development of the student...

  • Placements

    Excellent education not only imparts knowledge, but also paves the way for...

  • Life@IIS Univ

    Life @ IISU is nothing less than a kaleidoscope of myriad hues; complete with...

  • Academics

    Taking the age-old tradition of enlightenment through education forward,...

  • Research

    To stimulate curiosity and cater to the global needs of a dynamic education,...

  • About Us

    The IIS University, with its perfect amalgamation of innovation, inspiration...

IIS (Deemed to be University)

Gurukul Marg, SFS, Mansarovar, Jaipur 302020, (Raj.) India

Phone:- +91-141-2400160-61, 2397906-07,

Fax: 2395494,2781158, Toll Free No.: 1800 180 7750

STATISTICAL METHODS FOR ECONOMICS | Economics

STATISTICAL METHODS FOR ECONOMICS

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Paper Code: 
ECO 123
Credits: 
4
Contact Hours: 
60.00
Max. Marks: 
100.00
Objective: 

1.     To develop an understanding of preliminary concepts of statistics used in economics. 

2.     To help the students examine the techniques of correlation, regression, time series and index numbers.

3.     To acquaint the students with the techniques of probability and hypothesis testing and their applications.

12.00
Unit I: 
Univariate Analysis

Measures of Central Tendency, Dispersion, Skewness and Kurtosis

12.00
Unit II: 
Bivariate Analysis

Simple Correlation- Karl Pearson’s correlation coefficient and Spearman’s rank correlation coefficient. Simple Regression analysis.

12.00
Unit III: 
Time Series analysis

Components of time series, measurement of trend (moving averages & least squares) and seasonal variation (simple averages).

Index numbers

Construction of Unweighted and Weighted Index Numbers, Tests of Adequacy, Cost of Living Index, Chain index, Base shifting, Splicing, use of index numbers for deflating. 

12.00
Unit IV: 
Probability

Probability - definition, Theorems of Addition and Multiplication, Conditional Probability, Bayes Theorem, Mathematical Expectation.

Probability Distributions

Binomial, Poisson and Normal distributions.

12.00
Unit V: 
Hypothesis testing

Procedure of hypothesis testing.

Use of Z (single mean, difference of means, single proportion, difference of proportions), t (one sample, independent samples and paired samples), chi-square (goodness of fit and independence of attributes) & F (one-way & two-way ANOVA) tests.

Essential Readings: 

·       Gupta, S.P.  Statistical Methods, S Chand & Company, 2019.

References: 
  1. Speigal, Murray R., Statistics, Schaum’s Outlines, McGraw Hill Education, 1998.
  2. Spiegel, Murray R., Schiller, John, Srinivasan, R. Alu and Goswai, Debasree, Probability and Statistics, McGraw Hill Education, 2017.

 

  1. Croxton, Frederick E., Crowden, Dudley, J. and Klein, Sydney, Applied General Statistics, Prentice Hall of India, New Delhi, 3rd edition, 1979.

 

  1. Nagar, A.L. and Das R.K., Basic Statistics, Oxford University Press, 1997.
Academic Session: 
2022-23
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