Run by Bangor Business School
10 Credits or 5 ECTS Credits
Organiser: Prof Edward Shiu
Overall aims and purpose
NOTE: This module is NOT available to students on BA degrees.
AIMS: The module will introduce students to the ideas of probability and statistical inference, and demonstrate the application of those ideas. The overall aim is to provide a good foundation in statistical methods and techniques.
Constrained optimisation; Hypothesis tests; Type I and Type II errors; Level of significance; Correlation and causality; Linear Regression model; Ordinary Least Squares estimation; Testing the significance of a regression.
A basic knowledge of course material.
In addition to the above, an ability to write analytically on specific issues.
In addition to the above, the ability to illustrate and enhance arguments and analyses through the use of relevant supporting evidence drawn from the established literature.
Demonstrate an understanding of basic statistical concepts.
Understand basic ideas of sampling and statistical inference.
Formulate and test hypotheses.
Carry out investigations using summary statistics, graphs, techniques and exploratory data analysis, correlation and regression.
Analyse data, and intepret the results.
|CLASS TEST||Class Test||15|
|EXAM||Exam S2 2hrs||85|
Teaching and Learning Strategy
One 2-hour lecture per week;
One 1-hour tutorial per fornight.
- Numeracy - Proficiency in using numbers at appropriate levels of accuracy
- Self-Management - Able to work unsupervised in an efficient, punctual and structured manner. To examine the outcomes of tasks and events, and judge levels of quality and importance
- Critical analysis & Problem Solving - Able to deconstruct and analyse problems or complex situations. To find solutions to problems through analyses and exploration of all possibilities using appropriate methods, rescources and creativity.
- Self-awareness & Reflectivity - Having an awareness of your own strengths, weaknesses, aims and objectives. Able to regularly review, evaluate and reflect upon the performance of yourself and others
Subject specific skills
- Analysis, deduction and induction. Economic reasoning is highly deductive, and logical analysis is applied to assumption-based models. However, inductive reasoning is also important. The development of such analytical skills enhances students' problem-solving and decision-making ability.
- Quantification and design. Data, and their effective organisation, presentation and analysis, are important in economics. The typical student will have some familiarity with the principal sources of economic information and data relevant to industry, commerce, society and government, and have had practice in organising it and presenting it informatively. This skill is important at all stages in the decision-making process.
- Problem solving and critical analysis: analysing facts and circumstances to determine the cause of a problem and identifying and selecting appropriate solutions.
- Numeracy: the use of quantitative skills to manipulate data, evaluate, estimate and model business problems, functions and phenomena.
- Articulating and effectively explaining information.
- Self-management: a readiness to accept responsibility and flexibility, to be resilient, self-starting and appropriately assertive, to plan, organise and manage time.
Newbold, P., Carlson, W. and Thorne, B. (2012). Statistics for Business and Economics, 8th ed. Pearson.
Pre- and Co-requisite Modules
Courses including this module
Compulsory in courses:
- L1T1: BA Economics and Chinese year 2 (BA/ECCH)
- LR13: BA Economics/Italian year 2 (BA/ECIT)
- LL13: BA Sociology/Economics year 2 (BA/ECS)
- LR14: BA Economics/Spanish year 2 (BA/ECSP)
- LR11: BA French/Economics year 2 (BA/FREC)
- LR12: BA German/Economics year 2 (BA/GEC)
- LV11: BA History/Economics year 2 (BA/HEC)
- LL14: BA Social Policy/Economics year 2 (BA/SPEC)
- NN44: BSc Accounting and Banking with International Experience year 2 (BSC/ABIE)
- NN43: BSc Accounting and Banking year 2 (BSC/ACCB)
- NL41: BSc Accounting and Economics year 2 (BSC/ACCEC)
- NN4H: BSc Accounting and Finance year 2 (BSC/ACCFIN)
- N402: BSc Accounting & Finance (with International Experience) year 2 (BSC/ACCFINIE)
- NL42: BSc Accounting and Economics with International Experience year 2 (BSC/AEIE)
- L190: BSc Business Economics year 2 (BSC/BEC)
- N391: BSc Banking and Finance year 2 (BSC/BFIN)
- N101: BSc Business Studies year 2 (BSC/BS)
- NN1H: BSc Business Studies and Finance year 2 (BSC/BSFIN)
- NNM1: BSc Business Studies & Marketing with Intl Experience year 2 (BSC/BSMIE)
- NN1M: BSc Business Studies and Marketing year 2 (BSC/BSMKT)
- L111: BSc Financial Economics year 2 (BSC/FINEC)
- N501: BSc Marketing year 2 (BSC/MKT)
- N2NK: BSc Management with Accounting year 2 (BSC/MWACC)