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| STAT0800-1 | Applied statistics: models and methods
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| Duration : | 30h Th |
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| Credits/ECTS : |
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| Holder(s) : | Cédric Heuchenne |
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| Language : | Langue française |
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| Course contents : | In this course, the methods studied in basic statistical courses are adapted to analyzing useful applied issues in Economics and Management: variance analysis (comparison of several averages); inter-variable relation modelling (linear models); nonparametric tests. Students will also be introduced, through simple examples, to the maximum likelihood estimation method, which is particularly useful in more complex models used in Econometrics. Finally, time series and multivariate analysis will be introduced, topics especially interesting for students which are oriented to quantitative methods. |
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| Course objective : | The aim of this course is to give an overview of statistical problems met in the fields of Economics and Management.
By the end of the course, students should be able to understand and solve those problems in practice (by example, explaining variances, modelling relations between variables, detecting discrepancies or evaluating the evolution of a behaviour with respect to time). This course is also a prerequisite for quantitative courses which students will take later in their programme. |
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| Prerequisites : | Probability and statistical inference STAT0067-3 |
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| Organization : | Used methodology
A1. Ex-cathedra classes: theoretical introduction and applications (quick overview of lessons of previous years, presentation of various methods, interpretation of their solutions, examples).
A1. Study and comprehension of the course material.
A2. Supervised software applications: the professor presents the software to the students during the teaching sessions, and gives exercises to them. Each student is expected to solve those exercises, aside from the teaching sessions (with the possible help from the professor).
A5. Supervised real data analysis project: the professor submits to the students a real-life problem, for which several questions need to be solved. Thanks to A1 and A2 above-mentioned, and under the supervision of the professor, each group of students gives solutions to the problem. The teacher interacts with the students during meetings, and comments each obtained result, as well as each used method. He encourages the students to choose and correctly assess their procedures, to understand the limitations of those, as well as to interpret, discuss and detail their results. The overall aim of the process is for the students to be able to propose final solutions based on a firm and accurate argumentation.
A4. Redaction of a project report: critical synthesis, relevant analysis and adequate presentation of the results are required. |
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| Written notes : | A syllabus, the slides of the course and the statements of exercises and project will be placed at the disposal of students.
Advised books:
Course materials: References: Wonnacott R.J. and Wonnacott T.H. (1990), Introductory Statistics for Business and Economics, New York, John Wiley & Sons (ISBN : 047161517X)
Simar, L. (2003), Statistique en Economie et Gestion, manuscript 248 pages, Institut de Statistique, Université Catholique de Louvain, Louvain-la-Neuve. |
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| Assessment : | The evaluation is divided into two parts: the computational project treating a "real life" problem with methods displayed during the theoretical lectures (50%) and a written exam during May-June first session about the whole course (50%). |
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| Contacts : | Cédric HEUCHENNE, HEC-ULg Management School of the University of Liège, B31, local 2.53, email: C.Heuchenne@ulg.ac.be |
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