ECO2063 Statistics for EconomicsBahçeşehir UniversityDegree Programs ECONOMICS AND FINANCEGeneral Information For StudentsDiploma SupplementErasmus Policy StatementNational QualificationsBologna Commission
ECONOMICS AND FINANCE
Bachelor TR-NQF-HE: Level 6 QF-EHEA: First Cycle EQF-LLL: Level 6

Course Introduction and Application Information

Course Code Course Name Semester Theoretical Practical Credit ECTS
ECO2063 Statistics for Economics Fall 3 0 3 6

Basic information

Language of instruction: English
Type of course: Must Course
Course Level: Bachelor’s Degree (First Cycle)
Mode of Delivery: Face to face
Course Coordinator : Dr. Öğr. Üyesi AYSE ERTUĞRUL BAYKAN
Course Objectives: The objective of this course is to familiarize the students with the basic concepts of statistics and statistical computing with R software language to provide a solid foundation for further study and/or employment involving data analysis.

Learning Outcomes

The students who have succeeded in this course;
1. Explain the basic concepts, elements and objectives of inferential statistics
2. Make inferential statistical analysis on a given data
3. Use corresponding technology that inference procedures require
4. Actively learn and develop computer-based skills of inferential methods
5. Apply inferential methods to enhance data-based decisions.
6. Effectively communicate the results obtained from statistical analysis
7. Infer and interpret analytically about the public information

Course Content

Students learn, within the scope of this course, the basic elements of inferential statistics such as theoretical framework of sampling distribution, confidence interval and hypothesis testing, along with R Studio applications.

Weekly Detailed Course Contents

Week Subject Related Preparation
1) Introductory Lecture - R Studio Concepts and Applied Statistics
2) R Studio Concepts and Applied Statistics
3) Sampling and Sapling Distribution - Mean Ch.6 (Newbold & Carlson & Thorne)
4) Sampling and Sapling Distribution - Proportion Ch.6 (Newbold & Carlson & Thorne)
5) Sampling and Sapling Distribution - Variance Ch.6 (Newbold & Carlson & Thorne)
6) Confidence Interval Estimation: Single Population - Mean Ch.7 (Newbold & Carlson & Thorne)
7) Confidence Interval Estimation: Single Population - Proportion Ch.7 (Newbold & Carlson & Thorne)
8) Confidence Interval Estimation: Single Population - Variance Ch.7 (Newbold & Carlson & Thorne)
9) Confidence Interval Estimation: Difference Between Normal Population Means Ch.8 (Newbold & Carlson & Thorne)
10) Confidence Interval Estimation: Difference Between Normal Population Means Ch.8 (Newbold & Carlson & Thorne)
11) Hypothesis Tests of a Single Population: Mean Ch.9 (Newbold & Carlson & Thorne)
12) Hypothesis Tests of a Single Population: Proportion Ch.9 (Newbold & Carlson & Thorne)
13) Hypothesis Tests of a Two Population: Mean Ch.10 (Newbold & Carlson & Thorne)
14) Hypothesis Tests of a Two Population: Proportion Ch.10 (Newbold & Carlson & Thorne)

Sources

Course Notes / Textbooks: Newbold, P., Carlson, W.L., Thorne, B., Statistics for Business and Economics, )th Global Ed., Pearson, 2021.
References: D.R. Anderson, D.J. Sweeney and T.A. Williams, Freeman, J., Shoesmith, E., Statistics for Business and Economics, 3rd Ed., South-Western Cengage Learning, 2014.

Evaluation System

Semester Requirements Number of Activities Level of Contribution
Homework Assignments 3 % 20
Midterms 1 % 35
Final 1 % 45
Total % 100
PERCENTAGE OF SEMESTER WORK % 55
PERCENTAGE OF FINAL WORK % 45
Total % 100

ECTS / Workload Table

Activities Number of Activities Duration (Hours) Workload
Course Hours 14 3 42
Study Hours Out of Class 14 4 56
Midterms 1 15 15
Final 1 25 25
Total Workload 138

Contribution of Learning Outcomes to Programme Outcomes

No Effect 1 Lowest 2 Low 3 Average 4 High 5 Highest
           
Program Outcomes Level of Contribution
1) Build up a body of knowledge in mathematics and statistics, to use them, to understand how the mechanism of economy –both at micro and macro levels – works. 5
2) Understand the common as well as distinctive characters of the markets, industries, market regulations and policies. 2
3) Develop an awareness of different approaches to the economic events and why and how those approaches have been formed through the Economic History and understand the differences among those approaches by noticing at what extent they could explain the economic events. 1
4) Analyze the interventions of politics to the economics and vice versa. 1
5) Apply the economic analysis to everyday economic problems and evaluate the policy proposals for those problems by comparing opposite approaches. 3
6) Understand current and new economic events and how the new approaches to the economics are formed and evaluating. 4
7) Develop the communicative skills in order to explain the specific economic issues/events written, spoken and graphical form. 4
8) Know how to formulate the economics problems and issues and define the solutions in a well-formed written form, which includes the hypothesis, literature, methodology and results / empirical evidence. 5
9) Demonstrate the quantitative and qualitative capabilities and provide evidence for the hypotheses and economic arguments. 5
10) Understand the information and changes related to the economy by using a foreign language and communicate with colleagues. 3