To acquaint the students with statistical techniques useful for economic analysis.
Measures of central tendency, dispersion, skewness and kurtosis, concept of Lorenz curve and Gini coefficient.
Simple Correlation- Karl Pearson’s correlation coefficient and Spearman’s rank correlation coefficient. Partial and Multiple correlation Simple Regression analysis.
Time Series analysis Components of time series, measurement of trend and seasonal variation. Index numbers Construction of unweighted and weighted Index Numbers, Tests of adequacy, Cost of living index, Chain index-Base shifting –conversion of current price data into constant price data
Probability Probability - definition, theorems of addition and multiplication, conditional probability, Bayes Theorem, mathematical expectation. Probability Distributions Binomial, Poisson and Normal distributions.
Sampling techniques. Estimation: properties of good estimator, Point and Interval estimation, Null and alternative hypotheses, Types of errors. Hypothesis testing - use of Z, t, chi-square & F tests. Association of attributes, Analysis of Variance.
Links:
[1] https://economics.iisuniv.ac.in/courses/subjects/statistical-methods-economics
[2] https://economics.iisuniv.ac.in/academic-session/2018-19