Economics-Statistics for Economics

Exam Structure

Units Title Marks
Part A Statistics for Economics 
1. Introduction 13
2. Collection, Organisation and Presentation of Data
3. Statistical Tools and Interpretation 27

Part A: Statistics for Economics
In this course, you are expected to acquire skills in collection, organisation and presentation of quantitative and qualitative information pertaining to various simple economic aspects systematically. It also intends to provide some basic statistical tools to analyse, and interpret any economic information and draw appropriate inferences. In this process, you are expected to understand the behaviour of various economic data.
Unit 1: Introduction
What is Economics?
Meaning, scope and importance of statistics in Economics

Unit 2: Collection, Organisation and Presentation of Data
Collection of data – sources of data – primary and secondary; how basic data is collected; methods of collecting data; some important sources of secondary data: Census of India and National Sample Survey Organisation.
Organisation of Data: Meaning and types of variables; Frequency Distribution.
Presentation of Data: Tabular Presentation and Diagrammatic Presentation of Data: (i) Geometric forms (bar diagrams and pie diagrams), (ii) Frequency diagrams (histogram, polygon and ogive) and (iii) Arithmetic line graphs (time series graph).

Unit 3: Statistical Tools and Interpretation
Measures of Central Tendency – mean (simple and weighted), median and mode
Measures of Dispersion – absolute dispersion (range, quartile deviation, mean deviation and standard deviation); relative dispersion (co-efficient of quartile-deviation, co-efficient of mean deviation, co-efficient of variation); Lorenz Curve: Meaning and its application.

Correlation – meaning, scatter diagram; Measures of correlation – Karl Pearson’s method (two variables ungrouped data) Spearman’s rank correlation.
Introduction to Index Numbers – meaning, types – wholesale price index, consumer price index and index of industrial production, uses of index numbers; Inflation and index numbers.

Class X1 – SFE – Chapter 1 : Introduction
Class X1 – SFE – Chapter 2 : Collection of Data
Class X1 – SFE – Chapter 3 : Organization of Data
Class X1 – SFE – Chapter 4 : Presentation of Data
Class X1 – SFE – Chapter 5 : Measures of Central Tendency
Class X1 – SFE – Chapter 6 : Measures of Dispersion
Class X1 – SFE – Chapter 7 : Correlation
Class X1 – SFE – Chapter 8 : Index Numbers
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Lectures: 8