2025 FALL
ECON 206 STATISTICS FOR ECONOMISTS
Department of Economics
Instructor: Güneş A. Aşık
Office: A012
E-mail : gunesa@[Link]
Office Hours: Monday 13:25-15:25 (also by appointment)
Classes: Monday, 09:40–12:30, FZ09
Teaching Assistant: TBA
Prerequisites and Course Description:
The prerequisites for this course are Econ 105: Introduction to Research
Methods-I, Econ 106: Introduction to Research Methods-II, and Econ 205:
Introduction to Statistics-I. Students are expected to know the main concepts
of probability theory and statistics, have an understanding of probability and
random variables and the basic properties of the commonly used discrete and
continuous distributions. Building on these concepts, this course deals with
principles of point estimation, properties of point estimators, techniques of
estimation, optimality criteria in estimation, interval estimation, hypothesis
testing, comparison tests for independent and paired samples, multiple
comparisons, non parametric methods, regression, correlation, and analysis
of variance.
Coursebook:
Course materials will be uploaded, however, in order to encourage class
attendance, solutions to some of the key examples and problems will only be
provided in class and will be excluded from lecture notes. You can refer to
any undergraduate-level textbooks in Mathematical Statistics, but here are
some suggestions:
1. Statistics for business and economics / Paul Newbold, William L.
Carlson, Betty M. Thorne.
2. Devore, J.L. and Berk, K.N. (2012) Modern Mathematical Statistics with
Applications, 2nd Edition, New York: Springer.
3. Hogg, R.V., Tanis, E.A. and Zimmerman, D.L., (2015) Probability and
Statistical Inference, 9th Global Edition, London: Pearson.
4. Akdi, Y., (2014) Matematiksel İstatistiğe Giriş, Ankara: Gazi Kitabevi.
5. Wackerly, D.D., Mendenhall, W. And Scheaffer, R.L., (2008)
Mathematical Statistics With Applications, 7th Edition, Pacific
Grove:Duxbury.
6. Bain, L.J. And Engelhardt, M., (1992) Introduction to Probability and
Mathematical Statistics, 2nd Edition, Belmont: Duxbury.
7. Hogg, R.V., Mckean, J.W., and Craig, A.T., (2006) Introduction to
Mathematical Statistics, 6th Edition, New Jersey: Prentice Hall.
8. Kvanli, A.H., Pavur, R.J. and Guynes C.S (2000) Introduction to
Business Statistics, 6th Edition, South Western College Publishing, UK.
9. Gujarati, D., Basic Econometrics
Grading: Homeworks: 10%, Pop Quizzes: %15, Midterm Exam: 35%, Final
Exam: %40. There will be no make-ups for pop-quizzes.
Course Outline:
1. Sampling Distributions and the Central Limit Theorem.
1.1 Sampling Distributions
1.2 The Central Limit Theorem
2. Estimation.
2.1 The Bias and Mean Square Error of Point Estimators
2.2 Some Common Unbiased Point Estimators
2.3 Evaluating the Goodness of Point Estimator
3. Properties of Point Estimators and Methods of Estimation.
3.1 Unbiasedness
3.2 Relative Efficiency
3.3 Consistency
3.4 Sufficiency
3.5 Cramer-Rao Inequality
3.6 The Rao-Blackwell Theorem and Minimum-Variance Unbiased
Estimation
3.7 The Method of Moments
3.8 The Method of Maximum Likelihood
4. Interval Estimation
4.1 Confidence Intervals for Mean
4.2 Confidence Intervals for Variance
5. Hypothesis Testing.
5.1 Elements of a Statistical Test
5.2 Common Large-Sample Tests
5.3 Calculating Type I&II Errors
5.4 Relationships between Hypothesis Testing Procedures and
Confidence Intervals
5.5 Testing Hypotheses Concerning Mean(s)
5.6 Testing Hypotheses Concerning Variance(s)
5.7 Power of the test
6. Regression and Ordinary Least Squares
6.1 Simple Linear Regression and its basic assumptions
6.2 Estimation
6.3 Goodness of Fit
6.4 Finite Sample Properties of Estimators
6.5 Asymptotic Properties of Estimators
6.6 Estimating Variance
6.7 Test of Hypothesis
6.8 Prediction
Class Rules:
Cheating: All university, faculty, and department principles on academic
honesty will be strictly enforced. The usual consequence for academic
dishonesty is failure in the course and additional disciplinary action.
Examinations are individual and are to be completed without unauthorized
outside assistance. Persons observed cheating during examinations will
automatically receive a failing grade in the course. Homework assignments
are individual, unless otherwise specified by the instructor, and are to be
completed without unauthorized outside assistance as well. Persons observed
cheating in their homework assignments will receive a score of zero for the
portion of the semester grade that is allocated to such assignments. In
addition to the consequences above, the instructor will initiate disciplinary
action against the student(s) involved in academic dishonesty.
Plagiarism: The instructor assumes that students will do their own work. By
placing their names (individual or team) on assignments, students are
affirming that the contents are their original work. Ideas should be stated in
the student’s own wording. Violation of this provision will be considered as
unethical behavior, subject to disciplinary action. If you have any doubt about
the use of a specific material, see the instructor ahead of time.
Exam Rules: Students must present a valid METU Student ID during the
exam. Cellular phones must be turned off and stowed away during the
examinations. Students whose phones are observed to be turned on and/or
not stowed away will receive a score of zero for the examination. Additional
exam rules will be announced before the exams. Under no circumstances will
a make-up exam be administered if a student misses a midterm or final. If a
student misses a midterm exam due to an unanticipated and serious medical
emergency or due to a death in the immediate family proven with the
necessary documents, then that student will be required to take a makeup
final exam administered by the Department at the officially announced day
and time. There will be no make-ups for quizzes.
Students with Disabilities: Any student, who, because of a disabling
condition, may require special arrangements in order to meet course
requirements, should contact the instructor as soon as possible. Students
should present the appropriate documentation from the university’s Disability
Support Office (Engelsiz ODTÜ Birimi, ODTÜ Kütüphanesi, Solmaz İzdemir
Salonu, Tel: 2107196; engelsiz@[Link] ) verifying their disability, and
outlining the special arrangements required. Please note that no
accommodations will be provided to the disabled students prior to the
completion of this approved University process.
Know your rights and responsibilities: [Link]
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