University of the South Pacific
Area of Study
Taught In English
EC101: Principles of Macroeconomics or EC102: Principles of Microeconomics
Course Level Recommendations
ISA offers course level recommendations in an effort to facilitate the determination of course levels by credential evaluators.We advice each institution to have their own credentials evaluator make the final decision regrading course levels.
Credits3 - 4
Recommended U.S. Semester Credits3 - 4
Recommended U.S. Quarter Units4 - 6
Hours & Credits
OverviewEC 203 is an introductory course in statistics designed for students in economics, accounting, banking and finance and management. Emphasis is placed on the application of statistical techniques to those disciplines. No previous knowledge of statistics is assumed and basic knowledge of economics and mathematics is required.Data and numerical information are everywhere in today's world, for example, currency exchange rates in the world market, population census data for a country, prices of agricultural products in a region, monthly living expenses of a family, and exam grades of students in a university. What do all these data tell us, and how can we make good use of them?Economic statistics deals with the collection, presentation (organizing and summarizing), analysis and Interpretation of numerical data. The first half of the course deals with Descriptive Statistics that is using data gathered on a group to..describe or reach conclusions about that same group only, while second half of the course will cover few techniques of Inferential Statistics. Inferential statistics is using sample data to reach conclusions about the population from which the sample was taken. Students are also introduced to Index Numbers and basic time series analysis.Learning OutcomesOn successful completion of this course, it is expected that you will be able to:- Identify appropriate statistical techniques required for a given scenario.- Calculate basic statistics manually and using Microsoft- Excel.- Interpret calculated statistical results to make economic decisions.Course Content- Introduction to Statistics- Data Collection and Sampling- Graphical Descriptive Techniques- Numberical Descriptive Measures- Probability- Random Variables and Discrete Probability Distributions- Continuous Probability Distributions and Sampling Distributions- Estimations: Describing a Single Population- Hypothesis Testing: Describing a Single Population- Sample linear Regression Analysis- Time Series Analysis- Ind X NumbersTextbooksSelvanathan, E.A., Selvanathan, S. and Keller, G. "Business Statistics- Abridged", 6th, Cengage 2014.AssessmentTest 1: 15%Test 2: 15%Computer Lab Test and Participation: 10%Assignment (in two parts): 15%Tutorial Participation: 55Final Examination: 40%
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Please reference fall and spring course lists as not all courses are taught during both semesters.
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Please note that some courses with locals have recommended prerequisite courses. It is the student's responsibility to consult any recommended prerequisites prior to enrolling in their course.