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Statistics for Economics

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Colorful financial graphs and charts

 

STATISTICS FOR ECONOMICS

CLASS XI

Part A: Statistics for Economics

In this course, the learners are expected to acquire skills in collection, organisation and presentation of quantitative and qualitative information pertaining to various simple economic aspects systematically. It also intends to provide some basic statistical tools to analyse, and interpret any economic information and draw appropriate inferences. In this process, the learners are also expected to understand the behaviour of various economic data.

 

  • Unit 1: Introduction           
  • What is Economics?  Meaning, scope, functions and importance of statistics in Economics
  • Unit 2: Collection, Organisation and Presentation of data                                                   27 Period
  • Collection of data – sources of data – primary and secondary; how basic data is collected, with concepts of Sampling; Sampling and Non-Sampling errors; methods of collecting data; some important sources of secondary data: Census of India and National Sample  Survey Organisation.
  • Organisation of Data: Meaning and types of variables; Frequency Distribution.
  • Presentation of Data: Tabular Presentation and Diagrammatic Presentation of Data.
  • Geometric form
  • bar diagrams and pie diagrams),
  • Frequency diagrams (histogram, polygon and ogive) and
  • Arithmetic line graphs (time series graph).
  • Unit 3: Statistical Tools and Interpretation                                                                66 Periods

(For all the numerical problems and solutions, the appropriate economic interpretation may be attempted. This means the students need to solve the problems and provide interpretation for the results derived.)

  • Measures of Central Tendency– mean (simple and weighted), median and mode
  • Measures of Dispersion – absolute dispersion (range, quartile deviation, mean deviation and standard deviation); relative dispersion (co-efficient of range, co-efficient of quartile-deviation, co-efficient of mean deviation, co-efficient of variation); Lorenz Curve: Meaning, construction and its application.
  • Correlation – meaning and properties, scatter diagram; Measures of correlation – Karl Pearson’s method (two variables ungrouped data) Spearman’s rank correlation.
  • Introduction to Index Numbers – meaning, types – wholesale price index, consumer price index and index of industrial production, uses of index numbers; Inflation and index numbers.

Overview

  • 6 Students Enrolled
  • Language: English
  • Duration: 10 days
  • Lectures: 1
  • 3 Downloadable Resources
  • 8 Сoding Exercises
  • Certificate of Completion
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