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Learning objectives
At the end of the course the student is able to:
- Understand and apply basic statistics;
- Use statistics to specify, analyse and quantify (the relationship between) economic variables;
- Formalise and conduct statistical tests of hypotheses;
- Describe and solve statistical problems in a clear and systematic way.
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Statistics is an essential course for economists. An economist analyses and quantifies relationships between economic variables; for instance the relationship between prices and quantities or between inflation and unemployment. In doing so, an economist makes use of economic theory to formulate relationships and hypotheses, and statistics to quantify relationships between economic variables and to test hypotheses.
The course 'Statistics' includes the following topics: descriptive statistics, probability theory, estimation of parameters and hypothesis testing, mathematical expectations and regression analysis.
Academic skills
This course focuses on the following academic skills:
- Analytical skills
- ​Problem solving (identifying the problem, devising a path towards the solution, following this path, verifying the outcome) for specific questions.
- Information processing
- Being able to work with data software, such as Excel and Stata.
Format
Two tutorials per week of two hours each and exercises in an online learning environment (DME).
Effort requirements
The effort requirement consists of:
- Participation in at least 10 out of 14 tutorials
- An average score of at least 35% for the exercises in the Digital Math Environment.
Assessment method
- Midterm exam (55% of the final grade)
- Final exam (45% of the final grade)
Course repeaters
Students who signed up for the course in previous years and failed the course (and did not sign off in time), will participate in the course repeaters program.
With respect to the teaching format, this implies that course repeaters:
- Cannot follow the regular tutorials;
- Will have the possibility to follow a special tutorial before each exam if there has been a change in the course content;
- Do not have effort requirements;
- Can use DME.
With respect to the assessment method, this implies that course repeaters:
- Have a mid-term exam (55%) and an end-term exam (45%)
Courses that build on Statistics:
- Macro-economics: A European Perspective (ECB1MACR)
- Econometrics (ECB2METRIE)
- Intermediate Macroeconomics: Output and Time (ECB2VMAE)
- Intermediate Macroeconomics: International Financial Relations (ECB2IMAE)
- Financial Markets and Institutions (ECB2GFMI)
- Corporate Finance and Behaviour (ECB2FIN)
In case online access is required for this course and you are not in the position to buy the access code, you are advised to contact the course coordinator for an alternative solution. Please note that access codes are not re-usable meaning that codes from second hand books do not work, as well as access codes from books with a different ISBN number. Separate or spare codes are usually not available.
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