ECO2202 Statistical Economics

Econometric analysis has emerged as one of the most important sub – discipline in Economics. The discipline constitutes methods and techniques of data collection and manipulation; and as such it employs statistical and mathematical concepts, principles and tools. It is therefore critical that a student of Economics attains a strong grounding in descriptive and inferential statistics. A course on Quantitative Methods in Economics thereby plays an important role in introducing undergraduate students to mathematical statistics that provides a firm ground for undertaking various courses in Econometrics at advanced levels. The course focuses on analysis of probability theory, densities and distributions; sampling theory; and the various techniques of statistical inference.

Course Objectives
Given the above stated requirement, statistical economic intents to achieve the following objectives 

• Situate the importance and application of set and probability theory in statistical analysis 
• Illustrate the various probability densities and distributions 
• Discuss the special probability distributions and their applications 
• Identify the sampling distributions critical in inferential statistics 
• Describe the theory of statistic inferential theory 

Course Learning Objectives
At the end of this course a student would have attained skills in;

• Interpreting various meanings attached to the term probability and derivation of different probability theorems and laws
• Identifying and understanding the various types of probability distributions and densities; and the associated concepts
• The application of probability concepts in sampling distribution. 
• How conduct of statistical inference is done.