Module overview
The module is designed to prepare economics students for the econometrics modules taken in their second and third year. The module provides an introduction to the topic of statistics, with particular reference to the use of statistics to address questions in economics. The module content covers both descriptive statistics and statistical inference, leading up to regression analysis.
The course content is typically as follows: describing data; probability; random variables; sampling; estimation; hypothesis testing; simple and multiple regression.
Aims and Objectives
Learning Outcomes
Subject Specific Intellectual and Research Skills
Having successfully completed this module you will be able to:
- Manipulate the probability models that are most widely used in economics, and apply them correctly and carry out the appropriate statistical analysis
- Use graphical and numerical methods to calculate and illustrate descriptive statistics
- Identify the statistical concepts adequate to address questions about economic models
- Identify common problems which may affect regression analyses
Transferable and Generic Skills
Having successfully completed this module you will be able to:
- Use Excel to make basic statistical calculations and critically evaluate the basis for these calculations
Knowledge and Understanding
Having successfully completed this module, you will be able to demonstrate knowledge and understanding of:
- Identifying the appropriate regression model to apply to an economic dataset
- The basic concepts of probability and Bayes Theorem
Syllabus
1. Describing data
2. Probability
3. Discrete Random Variables
4. Continuous Random Variables
5. Sampling
6. Estimation
7. Hypothesis Testing
8. Simple Regression
9. Multiple Regression
Learning and Teaching
Teaching and learning methods
The course is based on lectures and tutorials, and students may also use interactive online resources listed on Blackboard.
| Type | Hours |
|---|---|
| Lecture | 22 |
| Independent Study | 118 |
| Seminar | 10 |
| Total study time | 150 |
Resources & Reading list
General Resources
Excel software.
University of Southampton e books collection.
Internet Resources
Textbooks
Statistics for Business and Economics. Pearson.
Assessment
Assessment strategy
The assessment in this module consists of online tests (10% of the final mark), group coursework in form of a take-home problem set (10% of the final mark) and an end of module examination (80%). This is the same for internal repeats. Referral and external repeat assessment are through 100% end of module examination.Summative
This is how we’ll formally assess what you have learned in this module.
| Method | Percentage contribution |
|---|---|
| Exam | 80% |
| Online test | 10% |
| Coursework | 10% |
Referral
This is how we’ll assess you if you don’t meet the criteria to pass this module.
| Method | Percentage contribution |
|---|---|
| Exam | 100% |
Repeat
An internal repeat is where you take all of your modules again, including any you passed. An external repeat is where you only re-take the modules you failed.
| Method | Percentage contribution |
|---|---|
| Exam | 100% |
Repeat Information
Repeat type: Internal & External