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Introduction

This guide has been compiled to support MPA students taking the Economics and Statistics (ECON 662) course.

This guide is maintained by Melody Chin.

  

Course Description

The course has two parts: Statistics and Economics.  The Statistics module gives an in-depth introduction to the basic theory of statistics and its applications. The course starts with a discussion of data presentation via graphical techniques and key numerical summary measures. Common discrete and continuous probability distributions as well as sampling distributions are then introduced for modelling data. This is followed by the construction of confidence interval and the conduct of hypothesis testing. The next topic, regression, evaluates relationships between variables. This also includes forecasting, time series analysis, trends and autoregressions.

The Economics module provides students with a foundation of economic concepts and theories necessary to understand and analyze the global economy and its impact on financial markets.   The course explains macroeconomic and stabilization concepts, as well as the components of GDP. From a policy perspective, both fiscal and monetary policy are analyzed. The microeconomic part of the course looks at consumer behaviour and the theory of the firm under various conditions such as perfect competition, monopoly, oligopoly and monopolistic competition. It also explains elasticities of demand and supply including price elasticity, cross-elasticities, income elasticity and tax incidence.

Subject Guide

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Melody Chin
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Subjects:Economics
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