PRINCIPLES OF STATISTICS I AND II

PRINCIPLES OF STATISTICS I

Status: Required course

Period: Second year, First semester (required),

ECTS credits: 4

Class hours: 60 class hours (30 lectures and 30 seminars)

PRINCIPLES OF STATISTICS II

Status: Optional course

Period: Second year, Second semester (optional)

ECTS credits 3

Class hours: 30 class hours (30 lectures)

Language: English

Requirements:

Prerequisites: completed course in Mathematics for economists

Course content

Modern methods of mathematical statistics were developed in the last century thanks to and on the basis of the achievements of the computer technology and the development of the probability theory. Therefore, the probability theory, in one form or another, is part of every course in statistics or is expected to have been studied in advance. In this course, the theory of probability is given the place it deserves, not only because it is the basis of statistics, but also because the theory of probability is the foundation upon which many modern economic theories are built. It is impossible to get an insight into the contemporary economic theory and practice without clarifying the probabilistic concepts such as uncertainty, risk, rational expectations and etc.

Therefore, the first part of the course examines the construction of axiomatic theory of probability including probability spaces, random variables, random processes and their properties, and fundamental laws as the law of large numbers and the central limit theorem.

The second part presents the main modern statistical methods of point estimates of parameters, checks of statistical hypotheses, and confidence intervals.

Course aim

The aim of the course is the students to learn and apply the approaches, methods and tools for data collection, analysis and processing, for modeling and research of processes and phenomena in business and economy in order to make the right decisions in business management or in defining economic policy.

Intended learning outcomes

Students should:

- Know the set of concepts of statistics

- Learn the methodology of statistics;

- Learn the statistical techniques;

- Define the basic concepts, variables, indices and dependencies and build models;

- Be able to interpret correctly the obtained results;

- Be able to take the right management decisions on the basis of statistical research.