Department of Humanities and Social Sciences

Course Title of the Program Core Total Number of contact hours Credit
Code course (PCR) / Lecture Tutorial Practical Total
Electives (L) (T) (P) Hours
(PEL)
HSO541 Statistical PEL 3 0 0 3 3
Techniques for
Economics
Pre-requisites Course Assessment methods (Continuous (CT) and end assessment (EA))
NIL CT+EA
Course CO1: Develop an understanding about the basic concepts of statistics.
Outcomes
CO2: To be able to apply various statistical tools in analyzing fundamental economic
problems.

Topics Sl. No. Name L T P C H

Covered Unit 1 Nature of Statistical Data and its Presentation 2 0 0 2 2
Unit 2 Measures of Central Tendency 3 0 0 3 3
Unit 3 Measures of Dispersion 3 0 0 3 3
Unit 4 Moments, Skewness and Kurtosis 3 0 0 3 3
Unit 5 Bivariate Data Analysis: Correlation & Regression 3 0 0 3 3
Unit 6 Time Series 4 0 0 4 4
Unit 7 Set Theory 3 0 0 3 3
Unit 8 Theory of Probability, Random Variables and Expectation 5 0 0 5 5
Unit 9 Univariate Probability Distributions 4 0 0 4 4
Unit 10 Sampling Theory and Distributions 4 0 0 4 4
Unit 11 Theory of Estimation 4 0 0 4 4
Unit 12 Theory of Testing of Hypothesis 4 0 0 4 4
TOTAL 42 0 0 42 42
Text Books, Text Books
and/or  Goon, Gupta and Dasgupta – Fundamental of Statistics, Vol. I & II, World
reference Press Private Ltd, 2013, 2016.
material
 Gupta and Kapoor – Fundamental of Mathematical Statistics.S.Chand& Sons,
2014.

Reference Books
 A. M. Mathai&P. N. Rathie – Probability and Statistics. Palgrave MacMillan.
2014.
 William G. Cochran - Sampling Techniques. Wiley& Sons. 2007.
 Sheldon Ross- A First Course in Probability. Pearson Education India. 2013.
 D. R. Agarwal – Comprehensive Statistics. Vrinda Publications (p) Ltd. 2011.
 Details Syllabus of Statistical Techniques for Economics (HSO541)

Unit 1 Nature of Statistical Data and its Presentation (2)

Statistical Data – classification and presentation – methods of collection of data – difference between variable and attributes –
class interval, class limit – frequency distribution and its diagrammatic representation (simple numerical exercise).

Unit 2 Measures of Central Tendency (3)

Arithmetic mean, median and mode – comparison of mean, median and mode – geometric mean and harmonic mean –
properties for all these measures – (simple numerical exercise).

Unit 3 Measures of Dispersion (3)

Absolute measures – Range, mean deviation and Standard deviation and Quartile Deviation –Relative measures – curve of
concentration - Measurement of economic inequality – Gini Coefficient and Lorenz Curve - (simple numerical exercise).

Unit 4 Moments, Skewness and Kurtosis (3)

Moments – definition – central and non-central moment - measures of skewness and Kurtosis - (simple numerical exercise).

Unit 5 Bivariate Data Analysis: Correlation & Regression (3)

Definition of bivariate data - Scatter diagram – simple correlation coefficient and its properties - limitations of correlation
coefficient - Simple regression analysis – properties – relationship between correlation coefficient and regression coefficient.
Spearman’s rank correlation coefficient (without tie) - (simple numerical exercise).

Unit 6 Time Series (4)

Nature and decomposition of time series – analysis of trend—polynomial trend – exponential trend – moving average method
– seasonal component-(simple numerical exercise).

Unit 7 Set Theory(3)

Set Notations – Universal Set – Subsets – Null Set – Finite & Infinite Sets – Relationships between Sets – Basic Set
Operations.

Unit 8 Theory of Probability, Random Variables and Expectation (5)

Random Experiments – Mutually Exclusive, Mutually Exhaustive, Equally Likely Events – Classical and Axiomatic
Definition of probability – Complementary Event – Theorem of Total Probability – Conditional Probability – Theorem of
Compound Probability – Independent Events, Bayes’ Theorem - Random Variables – Probability Mass and Density Functions
– Mathematical Expectation.

Unit 9 Univariate Probability Distributions (4)

Uniform, Binomial, Poisson, Normal Distributions – Mean, Variance.

Unit 10 Sampling Theory and Distributions (4)

Population and Sample - Parameter and Statistic - Random Sampling - Methods of Drawing Random samples – with replacement
and without replacement -Random sampling Numbers - Sampling Distribution - Standard Error.

Unit 11 Theory of Estimation (4)

Estimators - Desirable properties of estimators - Unbiasedness, Minimum Variance, Consistency and Sufficiency – Simple
Methods of Point Estimation.

Unit 12 Theory of Testing of Hypothesis (4)

Null hypothesis & Alternative Hypothesis–Confidence Intervals – Testing of Hypothesis – P-value – Type-I and Type-II Errors –
Simple applications of tests for the Mean and Variance of a Univariate Normal Population.