2 or 3 credits
Fall 2025 LectureAn introduction to probability theory and the basic statistical estimation methods. Topics include: axiomatic development of probability theory, counting methods, conditional probability and Bayes' theorem, random variables and distributions, expectation, variance, covariance and correlation, special distributions, statistical inference, maximum likelihood estimators, unbiased estimation, and testing hypotheses. Prerequisite: ECON 61500.
Learning Outcomes1Identify important statistical issues of interest in practical scenarios.
2Demonstrate the application of state of the art statistical methods to relevant economic questions.
3Outline a broad picture of the subject by logically connecting the various topics.