Course content

Data is required to quantify economic relationships and statistical models are used to draw information from data which is characterized by uncertainty and variation. This course covers methods used to analyze such data and include the calculation of probability, model estimation and hypothesis testing.

Learning outcome

Knowledge

You learn

• probability theory, variation, and uncertainty
• descriptive statistics, central tendency, and distribution
• common probability distributions, as the normal distribution and the binominal distribution
• to formulate hypotheses and to test whether a hypothesis can be rejected
• regression analysis
• what a statistical model is, how statistical conclusion can be made, and how the uncertainty in such conclusions can be characterized

Skills

You should be able to

• formulate a probability model based on a verbally unstructured question
• recognize which, among the most common probability distributions, that is applicable in a given situation
• perform testing of hypotheses
• do elementary statistical and econometric analyses on real data

Learning methods and activities

2 hours of lectures and 2 hours of practical assignments every week. The course has compulsory activity. Specific requirements will be announced at the beginning of the term.

The course will be taught in Norwegian in the spring semester.

Compulsory assignments

• Approved term paper(s)/exercise(s). Number and requirements will be given at the start of the semester

Recommended previous knowledge

SØK1001/ MET1001 og TDT4111 eller tilsvarende

Required previous knowledge

None

Course materials

Announced at the beginning of the term

Credit reductions