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    SUBJECT NO-HS20204, SUBJECT NAME- STATISTICS FOR ECONOMICS

    LTP- 3-0-0,CRD- 3
    SYLLABUS :-
    LTP: 3-0-0, CRD: 3 Prerequisite: None Objective The objective of this course is
    to introduce students with the statistical tools required for economic
    analysis. This course would help students to empirically analyze topics in
    macroeconomics, development economics, public economics, etc. This course will
    also help students to take courses in econometrics in future. Course Contents
    1. Introduction (2) Definition of Statistics, Functions of Statistics,
    Importance and Limitations of Statistics, Primary and Secondary Data, Time
    Series, Cross-Sectional and Panel Data, Qualitative and Quantitative Data,
    Discrete and Continuous Data, Tabular and Diagrammatic Representation of Data.
    2. Descriptive Statistics (15) Frequency Distribution, Histogram, Ogives,
    Frequency Curve, Arithmetic and Geometric Mean, Median, Mode, Absolute and
    Relative Measures of Dispersions, Lorenz Curve, Gini Coefficient, Box and
    Whiskers Plot, Measures of Skewness and Kurtosis, Bivariate Frequency
    Distribution, Ordinary and Rank Correlation Coefficient. 3. Index Number (5)
    Introduction, Problem in Construction of Price Index Number, Wholesale Price
    Index Number, Cost of Living Index Number, Uses of Price Index Numbers, Base
    Change, Inflation rate, application of Price Index Number. 5. Estimation (15)
    Estimation of Trend of Time Series: Moving Average, Least Square, Hodrick-
    Prescott Filtering, Maximum Likelihood Estimation of Bernoulli, Binomial,
    Poisson and Normal Distribution, Properties of Maximum Likelihood Estimator,
    Fischer Information Matrix, Asymptotic Distribution, Logit and Probit Model,
    Bayesian Estimation, Bootstrapping. 6. Factor Analysis and Principal Component
    Analysis (5) Symmetric Matrix, Eigenvalue, Eigenvector, Diagonalization of
    Symmetric Matrix, Factor Analysis, Principal Component Analysis. Suggested
    Readings 1. Fundamentals of Statistics by A.M. Gun, M.K. Gupta and B. Dasgupta,
    Volume 1, World Press, 2016. 2. Fundamentals of Statistics by A.M. Gun, M.K.
    Gupta and B. Dasgupta, Volume 2, World Press, 2016. 3. Statistical Methods by
    N. G. Das, McGraw Hill Education, 2017. 4. Introduction to Bayesian Statistics,
    3rd edition by William M. Bolstad and James M. Curran, 2017.

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