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Class 11

Economics: Statistics for Economics

29 lessons in 8 chapters, explained in plain words.

Introduction

  1. Why economics? Scarcity and choice
  2. Statistics and economic data
  3. What statistics does, and its limits

Collection of Data

  1. Data, variables and their sources
  2. Surveys, questionnaires and modes of collection
  3. Census and sampling
  4. Errors and data agencies

Organisation of Data

  1. Raw data and classification
  2. Continuous and discrete variables
  3. Frequency distributions
  4. Unequal classes, frequency arrays and bivariate tables

Presentation of Data

  1. Textual and tabular presentation
  2. Parts of a good table
  3. Bar and pie diagrams
  4. Histograms, polygons, ogives and line graphs

Measures of Central Tendency

  1. Central tendency and the arithmetic mean
  2. Mean of grouped data; properties; weighted mean
  3. Median, quartiles and percentiles
  4. Mode and choosing an average

Correlation

  1. What correlation measures
  2. Scatter diagrams
  3. Karl Pearson's coefficient of correlation
  4. Spearman's rank correlation

Index Numbers

  1. What an index number is
  2. Aggregative price indices
  3. Averaging relatives and the CPI
  4. Important index numbers and their uses

Use of Statistical Tools

  1. Steps in a statistical project
  2. The toothpaste survey