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Unit of study_

ECMT1010: Introduction to Economic Statistics

The ability to access, utilise, understand, and communicate stories contained within data is a core competency for all economics graduates in our information-rich society. Statistical methods help not only to formulate appropriate economic policies but also to evaluate their effects. This unit introduces and develops the basic quantitative techniques used to analyse data, including how to visualise and describe data from many different sources; how to model and analyse the relationships within data; and how to make correct inferences from data and detect incorrect inferences. Students will learn how to use computer software for data description and statistical analysis using real-world data.

Code ECMT1010
Academic unit Economics
Credit points 6
ECMT1011 or ECMT1012 or ECMT1013 or MATH1015 or MATH1005 or MATH1905 or STAT1021 or ECOF1010 or BUSS1020 or ENVX1001 or DATA1001
Assumed knowledge:
Minimum result of Band 4 in HSC Mathematics Advanced (or equivalent); or Band E3 in HSC Mathematics Extension 1 or 2 (or equivalent)

At the completion of this unit, you should be able to:

  • LO1. describe data using simple statistics and visual tools
  • LO2. understand the concept of statistical inference as a systematic approach to infer the population parameters using sample data
  • LO3. demonstrate proficiency in the use of software for data analysis
  • LO4. appreciate the importance of correct and responsible use of data
  • LO5. implement appropriate statistical inference procedures in various applications in economics and social sciences and effectively interpret the result to a wide audience.