ULMS Electronic Module Catalogue |
The information contained in this module specification was correct at the time of publication but may be subject to change, either during the session because of unforeseen circumstances, or following review of the module at the end of the session. Queries about the module should be directed to the member of staff with responsibility for the module. |
Title | STATISTICS FOR ECONOMICS AND BUSINESS | ||
Code | ECON112 | ||
Coordinator |
Dr S Phythian-Adams Economics S.L.Phythian-Adams@liverpool.ac.uk |
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Year | CATS Level | Semester | CATS Value |
Session 2021-22 | Level 4 FHEQ | Second Semester | 15 |
Pre-requisites before taking this module (other modules and/or general educational/academic requirements): |
ECON111 MATHEMATICS FOR ECONOMICS AND BUSINESS |
Modules for which this module is a pre-requisite: |
Programme(s) (including Year of Study) to which this module is available on a required basis: |
Programme(s) (including Year of Study) to which this module is available on an optional basis: |
Teaching Schedule |
Lectures | Seminars | Tutorials | Lab Practicals | Fieldwork Placement | Other | TOTAL | |
Study Hours |
5 |
24 12 10 |
51 | ||||
Timetable (if known) |
60 mins X 1 totaling 5
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120 mins X 1 totaling 24
60 mins X 1 totaling 12 |
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Private Study | 99 | ||||||
TOTAL HOURS | 150 |
Assessment |
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EXAM | Duration | Timing (Semester) |
% of final mark |
Resit/resubmission opportunity |
Penalty for late submission |
Notes |
Assessment 2: Unseen Examination Assessment Type: Examination Duration: 2 hours Weighting: 80% Reassessment Opportunity: Yes Penalty for Late Submission: Standard UoL penalty applies Anonym | 2 | 80 | ||||
CONTINUOUS | Duration | Timing (Semester) |
% of final mark |
Resit/resubmission opportunity |
Penalty for late submission |
Notes |
Assessment 1: 5 pieces of coursework associated with tutorials. Assessment Type: Coursework Size: 5 assessments taking approximately 1-2hrs each Weighting: 20% Reassessment Opportunity: Yes | 0 | 20 |
Aims |
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The fundamental aim of this module is to give students an understanding of how statistics operates in Business and Economics; To provide both a foundation for further study and a broadly based introduction to statistics; To enable students to summarize, present and analyze data from a sample; To enable students to understand and apply the practice of statistical inference to sample data to estimate full population variable parameters; To enable students to work comfortably with variables as probability distributions, introducing some common and practicably useful probability distributions. |
Learning Outcomes |
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(LO1) The basis of data analysis |
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(LO2) The fundamental notion of statistical inference |
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(LO3) Summarise,describe and present raw data |
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(LO4) Estimate the mean of a population (and other statistics) |
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(LO5) How to formulate and test hypotheses about values in the population based on random samples |
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(LO6) How to carry out basic statistical computations and graphical analysis |
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(LO7) How to identify and model relationships between two variables |
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(LO8) Understand the use of probability in statistics |
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(LO9) Communicating results |
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(S1) Adaptability |
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(S2) Problem solving skills |
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(S3) Numeracy |
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(S4) Commercial awareness |
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(S5) Organisational skills |
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(S6) Communication skills |
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(S7) International awareness |
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(S8) Lifelong learning skills |
Teaching and Learning Strategies |
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Teaching Method: Large Group Teaching Teaching Method – Tutorial and Assessment Feedback Self Directed Learning Hours - 109 Costs Information:
There are the following pre-requisites: This module is a pre-requisite for the following modules: Skill/Other Attribute 2: Skill/Other Attribute 3: Skill/Other Attribute 4: Skill/Other Attribute 5: Skill/Other Attribute 6: Skill/Other Attribute 7: Skill/Other Attribute 8: |
Syllabus |
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The module will consider: An Introduction to the Course Displaying distributions with graphs Describing distributions with numbers Density curves and Normal distributions Scatterplots Correlation & Least Squares Regression including cautions. Data analysis for 2-way tables + question of causation Sampling designs and design of experiments Designs toward statistical inference The Study of Randomness + probability models Probability and sampling distributions General Probability Rules (including conditional probability) Binomial & Poisson distributions Estimating with Confidence via Tests of Significance (including Use (and abuse) of significance tests) Inference for decision making Inference for the mean of a population; Comparing 2 means and Inference for a proportion of a population Analysis of Two-Way Tables Analysis of Two-Way Tables – Goodness of Fit Review & final assessment Prep. |
Recommended Texts |
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Reading lists are managed at readinglists.liverpool.ac.uk. Click here to access the reading lists for this module. |