Page 4 - DECO504_STATISTICAL_METHODS_IN_ECONOMICS_HINDI

ikB~;Øe SYLLABUS
vFkZ'kkL=k esa lkaf[;dh; fof/;k¡ (Statistical Methods in Economics)

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O;kikj esa muosQ mi;ksxksa ij fo'ks"k cy fn;k x;k gSA
Objectives:
The course aims to equip the students with statistical tools and concepts that help in decision making. The empha-
sis is on their application in business.

Sr. No. Content

1 Definition of Statistics: Importance and scope of statistics and its limitations, Types
of data collection: Primary and Secondary: Methods of collecting Primary data,

Classification and Tabulation of data: Frequency and cumulative frequency

distribution
2 Central Tendency: Mean, Median and Mode and their Properties, Application of

Mean, Median and Mode
3 Dispersion: Meaning and characteristics. Absolute and relative measures of

dispersion including Range, Quartile deviation, Percentile, Mean deviation,

Standard deviation, Skewness and Kurtosis: Karl Pearson, Bowley, Kelly’s
methods

4 Correlation: Definition, types and its application for Economists, Correlation:

Scatter Diagram Method, Karl Pearson’s coefficient of correlation, Rank
correlation method

5 Linear Regression Analysis: Introduction and lines of Regression, Coefficient of
regression method simple, Correlation analysis vs. Regression Analysis

6 Index number: Introduction and Use of index numbers and their types, Methods:
Simple (unweighted) Aggregate Method, Weighted aggregate method, Methods:

Simple (unweighted) Aggregate Method, Methods: Simple Average of Price

Relatives, Methods: Weighted Average of Price Relatives, Test of consistency:
Unit test, Time Reversal Test, Factor Reversal Test and Circular, Cost of Living

index and its uses. Limitation of Index Numbers

7 Time Series Analysis: Introduction and components of time series, Time Series
Methods: Graphic, method of semi-averages, Time Series Methods: Principle of

Least Square and its application, Methods of Moving Averages
8 Theory of Probability: Introduction and uses, Additive and Multiplicative law of

probability
9 Theory of Estimation: Point estimation, Unbiasedness, Consistency, Efficiency and

Sufficiency, Method of point estimation and interval estimation

10 Types of Hypothesis: Null and Alternative, types of errors in testing hypothesis,
Level of significance