Overview

An introduction to probability and statistical inference for use in economics and business. Topics covered include random variables, moments and cumulants generating function, discrete and continuous distributions, independence, jointly distributed random variables, conditional random variables, the central limit theorem, sampling distribution, properties of estimators, confidence intervals, tests of hypotheses.

Offerings

S2-01-CLAYTON-ON-CAMPUS

Rules

Enrolment Rule

Contacts

Chief Examiner(s)

Professor Farshid Vahid-Araghi

Notes

IMPORTANT NOTICE:
Scheduled teaching activities and/or workload information are subject to change in response to COVID-19, please check your Unit timetable and Unit Moodle site for more details.

Learning outcomes

On successful completion of this unit, you should be able to:
1.

understand concepts of probability, statistical inference, generating functions and cumulants

2.

derive and use generating functions to evaluate moments and establish the distribution of linear combinations of independent random variables

3.

understand and apply the main methods of estimation and the main properties of estimators

4.

construct confidence intervals for unknown parameters and test hypotheses

5.

develop written, presentation and group work skills through a series of assessed essays, assignments and tutorial work.

Teaching approach

Problem-based learning
Peer assisted learning

Assessment

1 - Within semester assessment
2 - Examination

Scheduled and non-scheduled teaching activities

Lectures
Tutorials

Workload requirements

Workload

Other unit costs

Costs are indicative and subject to change.
Electronics, calculators and tools: $40