Statistics for Economics

2.

Descriptive Statistics for Economic Data

2.1.

Types of Economic Data

2.1.1.

Qualitative vs. Quantitative Data

2.1.2.

Discrete vs. Continuous Variables

2.1.3.

Levels of Measurement

2.1.3.1.

2.1.3.2.

2.1.3.3.

2.1.3.4.

2.2.

Data Collection and Sources

2.2.1.

Primary vs. Secondary Data

2.2.2.

Government Statistical Agencies

2.2.3.

2.2.4.

Administrative Records

2.2.5.

Big Data in Economics

2.3.

Frequency Distributions and Data Visualization

2.3.1.

Frequency Tables

2.3.1.1.

Absolute Frequencies

2.3.1.2.

Relative Frequencies

2.3.1.3.

Cumulative Frequencies

2.3.2.

Graphical Representations

2.3.2.1.

2.3.2.2.

2.3.2.3.

2.3.2.4.

2.3.2.5.

Time Series Plots

2.3.2.6.

2.3.3.

Interpreting Economic Graphs

2.4.

Measures of Central Tendency

2.4.1.

Arithmetic Mean

2.4.1.1.

2.4.1.2.

2.4.1.3.

Properties and Applications

2.4.1.4.

Limitations and Sensitivity to Outliers

2.4.2.

2.4.2.1.

Calculation Methods

2.4.2.2.

Robustness Properties

2.4.2.3.

Applications in Income Distribution

2.4.3.

2.4.3.1.

Identification Methods

2.4.3.2.

Unimodal vs. Multimodal Distributions

2.4.3.3.

Use Cases in Economics

2.4.4.

Choosing Appropriate Measures

2.5.

Measures of Dispersion and Variability

2.5.1.

2.5.1.1.

Calculation and Interpretation

2.5.1.2.

2.5.2.

Interquartile Range

2.5.2.1.

Quartiles and Percentiles

2.5.2.2.

Box Plot Construction

2.5.2.3.

Outlier Detection

2.5.3.

2.5.3.1.

Population Variance

2.5.3.2.

Sample Variance

2.5.3.3.

Computational Formulas

2.5.4.

Standard Deviation

2.5.4.1.

Population Standard Deviation

2.5.4.2.

Sample Standard Deviation

2.5.4.3.

Interpretation and Applications

2.5.5.

Coefficient of Variation

2.5.5.1.

Relative Variability Comparison

2.5.5.2.

Applications in Risk Analysis

2.6.

Measures of Shape

2.6.1.

2.6.1.1.

Positive Skewness

2.6.1.2.

Negative Skewness

2.6.1.3.

Symmetric Distributions

2.6.1.4.

Economic Interpretation

2.6.2.

2.6.2.1.

Leptokurtic Distributions

2.6.2.2.

Mesokurtic Distributions

2.6.2.3.

Platykurtic Distributions

2.6.2.4.

Implications for Risk Analysis

2.7.

Measures of Association

2.7.1.

2.7.1.1.

Population Covariance

2.7.1.2.

Sample Covariance

2.7.1.3.

Interpretation of Sign and Magnitude

2.7.2.

Correlation Coefficient

2.7.2.1.

Pearson Correlation Coefficient

2.7.2.2.

Properties and Interpretation

2.7.2.3.

Limitations and Assumptions

2.7.2.4.

Correlation vs. Causation

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3. Probability Theory for Economic Analysis