Faculty of Business and Management Sciences · Islamic Economics and Finance · Undergraduate
Course Objective
The course aims at providing the students with statistical tools needed for economic analysis in the context of Islamic economics and finance. The course emphasizes understanding the process associated with statistical decisions, defining and formulating problems, analyzing the data, and using the results in decision making.
By the end of the course, the students should be able to (i) demonstrate understanding of statistical thinking and data analysis techniques for decision-making under uncertainty; (ii) apply statistical techniques to data sets, (iii) correctly interpret the results, and (iv) analyze and apply computer-generated statistical outputs to solve problems.
Course Content
Topics include descriptive statistics, random variables, probability distributions, estimations, hypothesis testing, correlation analysis, and regression. Microsoft Excel is used to assist in the analysis throughout the course.
Course Learning Outcomes
- analyze and apply computer-generated statistical outputs to solve problems.
- demonstrate understanding of statistical thinking and data analysis techniques for decision-making under uncertainty
- apply statistical techniques to data sets
- correctly interpret the results
Core Area Distribution
Teaching Methods
Assessment & Evaluation
ECTS / Workload
| Activity | Quantity | Duration (h) | Total Workload |
|---|---|---|---|
| Course Duration (Including Exam Week) | 16 | 3 | 48 |
| Out of Class Study Period | 16 | 4 | 64 |
| Midterm | 1 | 2 | 2 |
| Quiz | 1 | 1 | 1 |
| Assignment | 0 | 0 | 0 |
| Practice | 1 | 5 | 5 |
| Final | 1 | 5 | 5 |
Course Schedule
| Week | Subject | Preparation |
|---|---|---|
| 1 | Introduction to the course and to the software | W. (Ch. 10) |
| 2 | Basic regression analysis with time-series data | W. (Ch.10) |
| 3 | Basic regression analysis with time-series data | W. (Ch.10) |
| 4 | Further issues in using OLS with time-series data | W. (Ch.11) |
| 5 | Quiz 1 and EViews Application | |
| 6 | Further issues in using OLS with time-series data | W. (Ch.11) |
| 7 | EViews Application | |
| 8 | Midterm | |
| 9 | Serial Correlation in Time Series Regression | W. (Ch.12) |
| 10 | Serial Correlation in Time Series Regression | W. (Ch.12) |
| 11 | Pooling cross section across time | W. (Ch.13) |
| 12 | Quiz 2 and EViews Application | |
| 13 | Advanced time series topics | W. (Ch.18) |
| 14 | Advanced time series topics | W. (Ch.18) |
| 15 | EViews Application | |
| 16 | Final |