THE UNIVERSITY OF THE WEST INDIES, MONA
ECON2006 ECONOMICS STATISTICS
Semester II, 2012-13
Pre-requisites: ECON1001 and ECON1002 OR ECON1011 and ECON1012
AND ECON1005 and ECON1006
Anti-requisites: NONE
Lecturer: Andre Haughton
Description
This course introduces the use of statistical analysis on economic data. It also focuses on the
techniques used to compile indices, national income accounts and other reported economic
statistics.
Learning Outcomes
Upon successful completion of this course, students should be able to:
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Understand Regression analysis and how to extract inference from data
Compute indices from raw data
Use Input and output models
compute national income accounts
Write reports on statistical results.
Modes of Delivery
Two lecture hours and one tutorial hour per week. Problem sets (not for grading) will be provided
for practice at problem solving.
Assessment
Assignments
Mid-Semester Exam
Final Exam
10%
30%
60%
Assignment and Exams time and dates to be announced
Syllabus
Introduction
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Organisation of Course
History
Methodology
Overview of Regression
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Introduction to Regression
Interpretation of coefficients and goodness of fit
Index Numbers: Theory & Application
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Overview of Indices: Concepts, Definitions, Weighted Average, Applications
Construction, Application and Limitations of Particular Indices in the Caribbean :
Indices of Value, Volume and Price
Consumer Price Indices
Indices of Industrial Production
Unit Value Indices of Trade
Exchange Rate Indices
Stock Prices/Market Indices
Input-Output Table Analysis
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Outline of the Model
Applications of the Input-Output Model
Applications of Input-output Analysis to Caribbean Economies
National Income Accounting
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Overview, concepts, and definitions of National Income Accounting
National Income and Product Identities
Real GDP, Relationship between Nominal and Real, GDP deflator as another measure of
Inflation
Income Distribution Analysis
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Theories of Income Distribution
Lorenz Curve
Gini Coefficient
Pareto Curve
Balance of Payments
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Overview, Concepts and Definition of Balance of Payments
Balance of Payment Statistics
Selected Topics in Economics Statistics
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Human Development Index
Human Poverty Index
Gender Development Index
Millennium Development Goals
Resources
Bank of Jamaica www.boj.org.jm
Jamaica Stock Exchange www.jamstockex.com
Statistical Institute of Jamaica www.statinja.com
The World Bank www.worldbank.org