Economic Statistics

This course is designed to provide participants with a comprehensive understanding of economic statistics and its importance in decision-making. The course covers topics such as data collection, sampling methods, descriptive statistics, probability theory, hypothesis testing, and regression analysis.

Who Should Attend

Business professionals

Finance professionals

Economists

Government officials

Researchers and analysts

Objectives

Understand the basic concepts of economic statistics and their application in business and government.

Select appropriate sampling methods and collect economic data for analysis.

Analyze economic data using descriptive statistics and probability theory.

Conduct hypothesis testing to make decisions based on economic data.

Use regression analysis to forecast economic trends and patterns.

Interpret and communicate economic data effectively to stakeholders.

Course Outline

Introduction to Economic Statistics

Define economic statistics and its importance
Identify types of economic data
Discuss the role of economic statistics in decision-making
Explain the basic concepts and terminologies used in economic statistics
Demonstrate how to use economic statistics to make effective decisions

Data Collection and Sampling Methods

Discuss various methods of data collection
Define and explain sampling techniques
Analyze sampling errors and bias
Select appropriate sampling methods for specific situations
Demonstrate how to collect economic data for analysis

Descriptive Statistics and Probability Theory

Explain measures of central tendency and dispersion
Define probability distribution and random variables
Compute confidence intervals and hypothesis testing
Analyze the relationship between probability and statistics
Demonstrate how to use descriptive statistics and probability theory to analyze economic data

Hypothesis Testing

Define null and alternative hypotheses
Explain Type I and Type II errors
Perform one-sample and two-sample tests
Analyze the significance of p-values
Demonstrate how to make decisions based on hypothesis testing results

Regression Analysis

Define simple and multiple regression models
Discuss the assumptions of regression analysis
Interpret regression results
Analyze the significance of regression coefficients
Demonstrate how to use regression analysis to forecast economic trends and patterns

Competencies

Analytical thinking

Problem-solving

Data collection and analysis

Statistical inference

Forecasting

Istanbul

Train in Istanbul with access to Elite Academy’s full portfolio of professional programs. In a city known as a major international business crossroads connecting Europe, the Middle East and Asia, organizations and professionals can join upcoming courses or request any program to be arranged locally. Professional training in Istanbul is not limited to a specific group of subjects. Elite Academy makes its complete portfolio available in the city across management, business, technical and industry-focused disciplines. With a major international business crossroads connecting Europe, the Middle East and Asia, Istanbul provides an effective setting for international learning. Use the schedule below to view courses already planned for the destination, or contact our team to request another program and preferred dates in Istanbul, subject to scheduling and delivery requirements.