SEMESTER VI CORE COURSE XI QUANTITATIVE ECONOMICS (EC6B11U) Module I Central Tendency and Dispersion - Various central tendency measures - Arithmetic mean properties merits and demerits of calculation weighted, unweighted and – – –methods – combined. Median definition merits and demerits method of calculation graphic location – – – – Mode merits and demerits methods of calculation: significance of dispersion, methods, – – – absolute and relative measures Range, quartile deviation, mean deviation, standard deviation – – Lorenz curve and its economic applications. (30 Hrs.) Module II Correlation and regression analysis: their significance in Economics Correlation and – regression compared types of correlation measurement, scatter diagram, Karl Pearson’s – – correlation coefficient (for raw data only). Rank correlation regression equations and – regression lines prediction of values based on equations on x’ and on y’. (30 Hrs.) – ‘y ‘x Module III Skewness, Kurtosis, Moments: Types of skewness - Kurtosis Definition –measurement – and types (graphic presentation) Moments: central and raw moments (for ungrouped data only). (10 Hrs.) Module IV Differential Calculus: Its significance in Economics. Rules of differentiation First order – and second order derivatives some practical applications Maxima and Minima of functions. – – (10 Hrs.) Module V Probability and Distribution: Concept Rules of probability (addition and multiplication – theorem statement only) Different approaches Important terms related to probability – – – (Random experiments, sample space, events) Simple problems based on theorems Probability – – distribution binomial and normal their properties and uses Estimation of probabilities using – – – standard normal table. (28 Hrs.) SEMESTER VI
SEMESTER VI CORE COURSE XI QUANTITATIVE ECONOMICS (EC6B11U) Module I Central Tendency and Dispersion - Various central tendency measures - Arithmetic mean – properties – merits and demerits –methods of calculation – weighted, unweighted and combined. Median – definition – merits and demerits – method of calculation – graphic location – Mode – merits and demerits – methods of calculation: significance of dispersion, methods, absolute and relative measures – Range, quartile deviation, mean deviation, standard deviation – Lorenz curve and its economic applications. (30 Hrs.) Module II Correlation and regression analysis: their significance in Economics – Correlation and regression compared – types of correlation – measurement, scatter diagram, Karl Pearson’s correlation coefficient (for raw data only). Rank correlation – regression equations and regression lines – prediction of values based on equations ‘y on x’ and ‘x on y’. (30 Hrs.) Module III Skewness, Kurtosis, Moments: Types of skewness –measurement - Kurtosis – Definition and types (graphic presentation) Moments: central and raw moments (for ungrouped data only). (10 Hrs.) Module IV Differential Calculus: Its significance in Economics. Rules of differentiation – First order and second order derivatives – some practical applications – Maxima and Minima of functions. (10 Hrs.) Module V Probability and Distribution: Concept – Rules of probability (addition and multiplication theorem – statement only) – Different approaches – Important terms related to probability (Random experiments, sample space, events) – Simple problems based on theorems – Probability distribution – binomial and normal – their properties and uses – Estimation of probabilities using standard normal table. (28 Hrs.) SEMESTER VI
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