Course Description
Course Starting from 1st October 2024
Recorded Lectures
Past Year Paper & Solutions
Doubt Sessions
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Classification of Data Types
Measures of Dispersion
Poisson Distribution
Regression Theory
What is Statistics ?
Introductory Statistics for Economics Syllabus
Introduction and overview
The distinction between populations and samples and, between population parameters and sample statistics; Pictorial Methods in Descriptive Statistics; Measures of Location and Variability.
Elementary probability theory
Sample spaces and events; probability axioms and properties; counting techniques; conditional probability and Bayes’ rule; independence.
Random variables and probability distributions
Defining random variables; discrete and continuous random variables, probability distributions; expected values and functions of random variables.
Special Probability Distributions
Properties of commonly used discrete and continuous distributions (uniform, binomial, exponential, Poisson, hypergeometric, and Normal random variables).
Random sampling and jointly distributed random variables
Density and distribution functions for jointly distributed random variables; computing expected values of jointly distributed random variables; conditional distributions and expectations, covariance and correlation.
Learning Objectives
The course familiarizes students with methods of summarizing and describing important features of data. The course teaches students the basics of probability theory and sets a necessary foundation for Inferential Statistical Theory and the Econometrics courses. The familiarity with probability theory will also be valuable for courses in economic theory.
Learning Outcomes
The student would understand the concept of probability, random variables and their distributions and become familiar with some commonly used discrete and continuous distributions of random variables so that they would be able to analyse various real-life data.
Examination Scheme
End semester exam: This would be of 90 marks. The following decisions were taken regarding the choice offered within topics and the weightage given.
(i) Unit 1 and 2 would be given a combined weight of 20 marks, Unit 3 of 20 marks, Unit 4 of 30 marks, and Unit 5 would be given a weightage of 20 marks.
(ii) Units 1 and 2, would together have 3 questions, of which students would be required to do 2 questions.
(iii) Unit 3 would be compulsory, and would have two questions of 10 marks each.
(iv) Unit 4 would be compulsory, and would have three questions of 10 marks each.
(v) Unit 5 would be compulsory, and would have two questions of 10 marks each.
(vi) There would be a limited number of sub-parts per question. No sub-part would be less than 5 marks and if a sub-part had more than 5 marks, the marks would be in multiples of 5.
The internal assessment would comprise two class tests of 12 marks each. Lecture attendance will carry 6 marks. The continuous assessment would comprise of 35 marks tutorial assignment which would involve plotting the distribution in R / Excel and Quizzes / problem solving during tutorials. Tutorial attendance will carry 5 marks.
Past Year Papers
Click to download DU Sem 1-Introductory Statistics for Economics ( ECON003 ) past year question papers
Samkith Banthia
ISI Alumnus | Eco(H) St Xaviers Kolkata | FRM from GARP | Formerly with Barclay's Bank
Samkith Sir, an alumnus of ISI, transitioned from a successful banking career to pursue his passion for teaching and mentoring aspiring students. With expertise in mathematics and a nurturing demeanor, he stands out as a premier educator, dedicated to guiding students towards academic excellence.
Mahima Banthia
DSE Alumnus | Eco(H) SRCC Delhi | Former Lecturer St Stephen’s College Delhi | NET qualified
In Mahima Ma’am’s class at EduSure, we prioritize logical reasoning and emphasize conceptual understanding, ensuring mastery of macroeconomics. Mahima Ma’am, also handling administrative responsibilities at EduSure, is dedicated to providing the highest quality service to every student.
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