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The University of Southampton

STAT6091 Index Numbers

Module Overview

The aim of this module is to provide an introduction to the theory and practice of price index numbers.

Aims and Objectives

Learning Outcomes

Learning Outcomes

Having successfully completed this module you will be able to:

  • understand the origins and basic features of axiomatic, economic and stochastic approaches to price index;
  • apply the common elementary index formulae and the characteristic hedonic index method;
  • assess the uncertainty associated with price index numbers calculated based on a sample of products;
  • appreciate the fundamental challenges of price index based on scanner data and web scraping data.


- Axiomatic approach - Economic approach - Stochastic approach - Hedonic methods - Practical index methodology - Big-data sources

Learning and Teaching

Independent Study79
Total study time100

Resources & Reading list

IWGPS (2018). Consumer Price Index Manual: Theory and Practice. ILO..



MethodPercentage contribution
Coursework assignment(s) 100%


MethodPercentage contribution
Coursework assignment(s) 100%

Repeat Information

Repeat type: Internal & External

Linked modules

Pre-requisites: STAT6095 AND (STAT6093 OR STAT6116)


Costs associated with this module

Students are responsible for meeting the cost of essential textbooks, and of producing such essays, assignments, laboratory reports and dissertations as are required to fulfil the academic requirements for each programme of study.

In addition to this, students registered for this module typically also have to pay for:

Approved Calculators

Candidates may use calculators in the examination room only as specified by the University and as permitted by the rubric of individual examination papers. The University approved model is Casio FX-570 This may be purchased from any source and no longer needs to carry the University logo.


You will be expected to provide your own day-to-day stationery items, e.g. pens, pencils, notebooks, etc.


Where a module specifies core texts these should generally be available on the reserve list in the library. However due to demand, students may prefer to buy their own copies. These can be purchased from any source. Some modules suggest reading texts as optional background reading. The library may hold copies of such texts, or alternatively you may wish to purchase your own copies. Although not essential reading, you may benefit from the additional reading materials for the module.

Please also ensure you read the section on additional costs in the University’s Fees, Charges and Expenses Regulations in the University Calendar available at

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