ECON 2610
Measurement and Computation in Economics
8:30 – 9:45 am Tuesday/Thursday
202 Isbister
January – April 2015
Instructor: Greg Mason - www.gregorymason.ca
More information: http://gregorymason.ca/courses/course-outlines/
Goal of the Course
This course will introduce basic economic measures and computations such as index numbers, cost
relationships, time-value of money, rates and growth, seasonal adjustment, and forecasting. Excel will
form the basis for teaching students common measures from micro and macroeconomics. In addition to
mastering the core measures of economics, students will gain proficiency in Excel, the most important
analytical tool used in business and government. It is also a powerful method for supporting data
analysis and economic modelling in more advanced economics and business courses.
Approach
Lectures and labs will present the measurements and computations used in micro, macro, and
business economics. No prior knowledge of Excel is required – all concepts and methods will be taught
in class with lab assignments offering extensive opportunity to learn and practice this important tool.The
lectures will occur in the social science computer lab (202 Isbister) to ensure students acquire quick
expertise in Excel.
Students will also learn basic data management, data transformation, and graphing using the features
of Excel. At the conclusion of this course students will have a library of Excel programs to support
common economics and business measurements/calculations.
Mark Allocation
The final mark will be based on lab assignments, in-class term tests (best 2 out of 3), and a final examination.
Component
Lab assignments (Best 4 of 5) – 5 marks each
Term Tests (Best 2 out of 3) – 20 marks each
Final exam (2 hours) (In formal exam period)
Total
November 18, 2014
Marks
25
40
35
100
Course themes
Weeks 1 - 3
Mastering the basics of Excel
-
Weeks 4 - 6
Indexes, rates, incidence and growth
-
Weeks 7 - 9
measures of central tendency
measures of dispersion
association
regression
forecasting and seasonal adjustment
computing insurance relationships (fair premiums, certainty equivalents)
Time value of money – basics of financial economics
-
Week 13
creating a price index
computing Laspeyres, Paasche and Fisher indices
changing base and splicing indexes
computing rates of growth and measures of incidence
application to demographic projections
Basics of data analysis
-
Weeks 10 - 12
creating the data sheet(s)
basic data entry and management
qualitative (logical) and quantitative data
data handling/sorting
charts
specifying demand/supply (micro) and LS/IM (macro) models
simple and compound\t interest
fractional and continuous compounding
annual growth rates
present value
discounted present cash flow
internal rates of return
benefit-cost analysis
Review
Text
1.
2.
3.
Whigham, David, Business Data Analysis using Excel, Oxford, Oxford University Press (2007)
Students should hold on to their basic micro and macro texts
Other material will be posted on the course website
Fine Print
1. Missed term tests: Students will not be permitted to write make-up term tests, except for documented medical or
compassionate reasons. If the necessary documentation is provided within two days of the missed test, the weight of
the term exam will be added to the final exam weight. Otherwise the missed test will count for 0.
2. Academic integrity: Each student must read and understand university regulations regarding academic integrity as
described in the General Calendar.


Plagiarism and Cheating - http://webapps.cc.umanitoba.ca/calendar10/regulations/plagiarism.asp
Impersonation at an examination http://webapps.cc.umanitoba.ca/calendar10/regulations/exams/exams_personations.asp
November 18, 2014