Statistics for Economics

Statistics for Economics is the application of statistical methods to collect, analyze, interpret, and present economic data, providing the essential framework for empirical analysis in the field. It equips economists with the tools to move beyond theoretical models by enabling them to test hypotheses, quantify relationships between economic variables (such as inflation and unemployment), and forecast future trends using techniques like probability theory, sampling, and regression analysis. This discipline is fundamental for understanding real-world economic phenomena and for making evidence-based policy recommendations.