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ES12005: Probability and statistics

[Page last updated: 09 August 2024]

Academic Year: 2024/25
Owning Department/School: Department of Economics
Credits: 10 [equivalent to 20 CATS credits]
Notional Study Hours: 200
Level: Certificate (FHEQ level 4)
Period:
Semester 2
Assessment Summary: EXCB 100%
Assessment Detail:
  • Closed-book written examination (EXCB 100%)
Supplementary Assessment:
Like-for-like reassessment (where allowed by programme regulations)
Requisites:
Learning Outcomes: By the end of the unit students will be able to: - Derive probabilities of complex events. - Derive probabilities involving random variables. - Describe key parametric distributions and their applications. - Explain estimators and their sampling distributions. - Construct hypothesis tests. - Explain assumptions underlying core probability and statistical concepts - Communicate statistical ideas clearly and effectively - Plan, manage and reflect on their own learning and practice


Synopsis: Develop an understanding of the fundamental concepts of probability and statistics that form the basis for the subsequent study of economics and econometrics. During this unit, you will learn about probability, random sampling, and estimation.

Content: -Introduction probability. -Random variables, including parametric, univariate, and multivariate distributions. -Prediction in a population, including conditional expectation functions and linear projections. -Random sampling and sampling distributions. -Parameter and confidence interval estimation. -Hypothesis testing. -Estimation of a bivariate linear regression.

Course availability:

ES12005 is Compulsory on the following courses:

Department of Economics
  • UHES-AFB10 : BSc(Hons) Economics (Year 1)
  • UHES-AKB10 : BSc(Hons) Economics with professional placement (Year 1)
  • UHES-AKB10 : BSc(Hons) Economics with professional placement and study abroad (Year 1)
  • UHES-AKB10 : BSc(Hons) Economics with study abroad (Year 1)

Notes:

  • This unit catalogue is applicable for the 2024/25 academic year only. Students continuing their studies into 2025/26 and beyond should not assume that this unit will be available in future years in the format displayed here for 2024/25.
  • Courses and units are subject to change in accordance with normal University procedures.
  • Availability of units will be subject to constraints such as staff availability, minimum and maximum group sizes, and timetabling factors as well as a student's ability to meet any pre-requisite rules.
  • Find out more about these and other important University terms and conditions here.