The module will provide an opportunity for students to use A-level mathematical skills in studying Economics, Econometrics, Actuarial Science, and Management Sciences throughout their degrees.
Pre-requisite for ECON2041
One of the pre-requisites for MATH3063, MATH3085
Aims and Objectives
Having successfully completed this module you will be able to:
- Critically appreciate the role played by the underlying theory
- Interpret the results of regression analysis,
- To introduce practical data analysis techniques using the statistical computing package R
- Use simple statistical methods in a rigorous fashion,
- Outline the limitations of the inferences drawn.
The module starts from data analysis, and provides an amplification of the statistical ideas and methods encountered in ECON1007. By developing these at a higher mathematical level, the module provides an introduction to the statistical and econometric theory encountered in later modules, especially in ECON2041. It reviews the Binomial, Poisson, and Exponential distributions, and their properties. The concepts of expectation, variance, moment generating functions, joint distribution, covariance, and independence are used to determine sampling distributions. The Central Limit theorem is employed to discuss the Normal distribution which is then used to give an introduction to the principles of estimation and testing within the context of univariate sampling. The end point of the module is to enable you to do regression analysis in matrix notation, and use the inferential techniques covered. Furthermore, data will be analysed and summarised using statistical software R, which will also be used to sample from generated distributions and to perform bootstrap.
Learning and Teaching
Teaching and learning methods
|Total study time||150|
Resources & Reading list
Mathematical Statistics with Applications.
The formative assessment consists of exercises assigned by the lecturers and reviewed in the Masterclasses where students receive feedback. Two assessed coursework worth 15% each which receive individual feedback. 70% two hour final examination
This is how we’ll formally assess what you have learned in this module.
This is how we’ll assess you if you don’t meet the criteria to pass this module.
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.
Repeat type: Internal & External