Module Topics

The lecture programme is organised around eight main topics.

Topic 1. A Review of Basic Statistical Concepts

economic statistics defined; descriptive statistics

Topic 2. Random Variables and Probability Distributions
definition and characteristics of random variables; mean and variance; arithmetic properties of random variables; laws of probability; Venn Diagrams; probability distributions

Topic 3. Discrete Probability Distributions
discrete random variables; some specific discrete probability distributions; Bernoulli distribution; Binomial distribution; Poisson distribution; using statistical tables for discrete distributions

Topic 4. Continuous Probability Distributions
continuous random variables; some specific continuous probability densities; Uniform distribution; Normal distribution; chi-squared distribution; F-distribution; t-distribution; the use of statistical tables for continuous distributions

Topic 5. Sampling
random samples and sample design; the sample mean; characteristics of the sample mean; sampling distribution of the sample mean; Central Limit Theorem

Topic 6. Confidence Intervals and Hypothesis Testing
confidence intervals for population means; basic terminology for hypotheses tests; classical hypothesis tests for population means; one-sided and two-sided hypothesis tests; significance levels for hypothesis tests

Topic 7. Correlation and Simple Linear Regression
the nature of econometrics; basic notation; correlation; two-variable linear regression; Ordinary Least Squares (OLS) regression estimation; model specification and assumptions

Topic 8. Statistical Inference in Linear Regression

properties of the Least Squares estimator; the distribution of the Least Squares estimator; measures of the "goodness-of-fit" of a regression; statistical inference based on regression estimates