Minutes of the Meeting

Basic Statistics for Economics

Date: November 26, 2024

Course Title BA(P) GE - Basic Statistics for Economics – DSC-4

Course Code ECON022

Semester II

Credits 4

Duration (per week) 4 Hours (3 Lectures + 1 Tutorial)

Date of the Meeting November 26, 2024

Venue Online

Chair Dr. Devesh Birwal, Dr. Anish Gupta

Attended By:
 Dr. Kanika Pathania Sri Venkateswara College
Megha Jacob Jesus and Mary College
Akanksha Daulat Ram college
Dr. Swarup Santra Satyawati College
Neha Vivekanand College

A meeting of teachers of this course was held to discuss the following:

 How to cover the concepts in the syllabus by giving students a knowledge of each
without involving too much mathematical computations.
 Suggested readings and the detailed reading list for the UGCF course to be implemented
in the academic session 2023-24.
 The pattern of the semester-end exam.
 What can be the different ways in which teachers can assess students for continuous
assessment.

It was decided that there will be no change in the current curriculum and the pattern of
examination and it will be same as per last year, which is as follows:

Topic Readings Section specific instructions

Unit – I: Introduction and  McClave et. al: Ch 1  Emphasis should be

Overview (09 Hours) (except Sec 1.4) placed on the concepts
of mean, median,
 Populations and  McClave et. al: Ch 2.1- 2.5 mode, standard
Samples; Sample deviation, variance
Statistics and coefficient of
 Descriptive Statistics  Anderson, Sweeny, et.al.): variation
Ch 3.2(only
coefficient of variation  In graphical methods
to be done) (pp121- emphasis should be
122) placed on histograms
and pie charts.

Unit – II: Basic Concepts of  McClave et.al: Ch 3  Questions should be

Probability (12 Hours) simple in conceptual
and numerical
 Spaces and Events;
 Probability Concepts, calculations.
Conditional
Probabilities
Unit – III: Probability
Distributions and Sampling
(12 Hours)

 Random Variables –
Discrete and
Continuous,

 Various Probability
Distributions –
Functions and  McClave et.al: Ch 4
Characteristics; (except Sec 4.4)  Emphasis should be
 McClave et.al: Ch 4.5, placed on binomial,
 Commonly used 4.6, 4.8 (only uniform normal and uniform
Distributions – distribution) distributions.
Uniform, Binomial,  Anderson, Sweeny,
Exponential, Poisson, et.al: Ch 5.4
Hypergeometric and
Normal Random
Variables

 Joint Distributions –
Conditional
Distributions and
Expectations,
Covariance and
Correlation:
Unit – IV: Estimation and  Methods of Moments
Hypothesis Testing (12 and Maximum
Likelihood
Hours)
estimation are to be
 Properties of excluded as these
estimators  McClave et. al: Ch topics involve
 confidence intervals 6.1- 6.3 rigorous
 defining statistical  McClave et. al: Ch mathematics and
hypothesis 7.1- 7.5, 7.8 students are not
 distributions of test formally trained in
statistics these concepts.
 Testing hypothesis  Only applications and
interpretations of the
 related to population important formulas
parameters; Type I and and concepts to be
Type II parameters; done.
 Power of test

Notes

 Teachers suggested that from the suggested readings in the syllabus, McClave, Benson and
Sincich (2017) and Anderson, Sweeny, et.al. (2019) could be used as core textbooks.
Sheldon Ross (2017) and Larsen and Marx (2011) could be used as a suggested reading
for the teachers.

 Specific instructions are mentioned against each question which should be taken care of while
setting the question paper.

 Applet exercises are to be avoided in each text.

 Numerical Questions involving integration should not be done.

Recommended Readings:

 James McClave, P. George Benson, Terry Sincich (2017), Statistics for Business and
Economics, Pearson Publication.

th
 Anderson, D. R, Sweeny, D. J, et. al (2019), Statistics for Business and Economics, 13
edition, Cengage Learning.

Recommended Readings for teachers:

th
 Sheldon Ross (2017), Introductory Statistics, 4 edition, Academic Press.

 Larsen, R., Marx, M. (2011), An Introduction to Mathematical Statistics and its Applications,
Prentice Hall.

End semester examination and Internal Assessment:

 The end semester exam would be of 90 marks. The following distribution of topics, indicative
weightage, and the amount of choice within each section, was agreed upon:

Section 1: Unit 1(weightage 30 marks) – Two compulsory question of 15 marks each.

Section 2: Unit 2 (weightage 20 marks) – Two questions out of three of 10 marks

each.

Section 3: Unit 3 (weightage 20 marks) – Two questions out of three of 10 marks

each.

Section 4: Unit 4 (weightage 20 marks) – Two questions out of three of 10 marks

each.

 There would be no compulsory question in 2,3, and 4 sections and each question should have
limited number of sub-parts.
 The internal assessment would comprise of 12 marks Class test, 12 marks Class
test/assignment. Attendance will carry 06 marks. Problem solving during tutorials/
interpretation of results pertaining to a set of data should be the preferred medium for
continuous assessment of 35 marks out of 40 (Five marks for attendance in tutorials).