Economic statistics: methods for businesses approaches
The course aims at offering students a tool of statistical methods that allow them to detect statistical data, summarize and interpret quantitative information in a business and economic framework. The course also aims at achieving the educational objectives to enable students to enter the labour market with skills for using statistical techniques as valid support to business decision in the different functional areas and to analyze different of economic dynamics.
EXPECTED LEARNING OUTCOMES:
Knowledge and understanding:
The student should be able to know the main theories and techniques for the collection, analysis and interpretation of business and economic data.
Applying knowledge and understanding:
The student should be able to use the acquired knowledge in practical circumstances, applying the main statistical tools, descriptive and inferential, for the data analysis with a special focus on the business and economic dynamics.
The student should have the maturity and the ability to choose autonomously the more suited statistical technique to solve a specific problem.
The student should be able to communicate clearly and with an adequate technical language the contents of the Course and to apply them in business and economic contexts.
Lifelong learning skills:
The student should be able to show a good learning ability and autonomy in investigating in-depth the matters of the Course using the references provided by the teacher. The student should be able to implement the more suited statistical tools in the specific circumstances.
Basic tools of Mathematics.
The contents of the course can be divided into three main topics:
I part (30 hours):
Descriptive Statistics: data collection, data distribution and representation (tables and graphs), summary indicators (means, variability and shape indexes), bivariate relationships, statistical dependence, linear regression and correlation.
II part (30 hours):
Inference: probability, random variables and probability distribution, sampling and sampling distributions, point estimate, confidence intervals and hypothesis tests.
III part (12 hours):
Statistics for economics: ratios, index numbers (prices and production), time series, labour market.
Borra S., Di Ciaccio A. (2014), Statistica – Metodologie per le scienze economiche e sociali, McGraw-Hill, III edizione.
Quintano C., Castellano R., La Statistica in pratica: Esempi per l’Economia e le Aziende, Liguori.
For RCFL (labour market): https://www.istat.it/it/archivio/8263
Other readings can be downloaded on-line.
The degree of learning has constantly assessed during the course by asking students to perform exercises and develop case studies related to business context and economic dynamics. Final written and oral assessments about all the topics covered in the program. Beyond exercises that are contextualised in real problems, the written assessment also includes open-ended questions. Moreover, the written assessment is integrated with the oral assessment by a discussion of the test and/or an in-depth assessment on all the topics of the program.