Economics 245

DESCRIPTIVE STATISTICS & PROBABILITY Summer 2017: Section A01

CRN#: 31111 Class Web Page - http://web.uvic.ca/~bettyj/245

INSTRUCTOR: Betty J. Johnson Tophat: Course code: 364215 Office: BEC 324 https://app-ca.tophat.com/e/364215

E_mail: bettyj@uvic.ca text: 1-(647)-931-6504

Office phone: 721-8547 MyStatLab Course ID: johnson21977

OFFICE HOURS: Wednesday 11:30 a.m.

COURSE OUTLINE: The objective of this course is to introduce you to techniques and tools to deal with economic

data and economic applications. Probability theory and descriptive statistics are central to

modern applied economics. A clear understanding of such ideas is important in the

subsequent study of economics.

Economics 245 is the foundation of a series of courses in the teaching of quantitative

economics. In particular, it will introduce you to basic statistical concepts and characteristics

of economic data. By providing insight into various economic data sets, you will be better

equipped to summarize and interpret economic events in a meaningful and efficient fashion.

The course is roughly divided into two components: (i) descriptive economic statistics and

(ii) probability and random variables. Part (i) deals essentially with how to describe and

summarize characteristics of economic data. In the process of doing this we will learn

about some aspects of data manipulation that are central to the way in which agencies, such

as Statistics Canada, publish economic information. Part (ii) provides applications of

probability, and insight into the statistical characteristics of random sampling. Such

background material is necessary for us to subsequently learn about statistical inference, a

topic that forms the basis for Economics 246.

LECTURES: Tuesday, Wednesday, Friday, 12:30 p.m. – 2:20 p.m., HSD A240.

LABORATORY CLASSES:

Laboratory classes are scheduled for this course. You need to register in a Laboratory

section. The Laboratory sessions cover formal classwork, with an instructor present, and they

run all term. The first few laboratory classes are designed to provide you with an

introduction to the Computing Laboratory facilities, and to the EVIEWS computing package.

Lab Section Day CRN# Time Location TA name

B01 Tuesday &

Thursday

31112 2:30 pm BEC Lab 180

B02 Tuesday &

Thursday

31113 3:30 pm BEC Lab 180

B03 Tuesday &

Thursday

31114 4:30 pm BEC Lab 180

B04 Monday &

Wednesday

31115 4:30 pm BEC Lab 180

TEXT:

Paul Newbold, William L. Carlson and Betty Thorne, Statistics for Business and

Economics, Eighth Edition (Pearson.), 2013. This text is referred to as NC&T in the

following course outline.) Other material that is handed out in class, such as assignments,

solutions, etc. will be available on the class web page.

CLASS OVERHEADS: The availability of class overheads will be discussed shortly. Any material that may be

covered in class is examinable whether it is in these overheads or not.

COURSE OUTLINE: Topic 1 - Descriptive Statistics: NC&T, Chapter 1

Topic 2 - Summary Measures for Populations and Samples: NC&T, Chapter 2

Topic 3 - Time Series and Index Numbers: NC&T, Chapter 16.1, 16.3-16.4.

Topic 4 - Probability Theory: NC&T, Chapter 3

Topic 5 - Discrete Random Variables and Expectations: NC&T,

Chapter 4.1-4.4 and 4.7

Topic 6 - Continuous Random Variables: NC&T Chapter 6, sections

5.1-5.3.

GRADING: Assignments (3) using MyStatLab: 15%

Labs (10) Eviews: 10%

Weekly Wednesday Quiz: 5% (TopHat)

Term Test (1): 35% 2 hours).

Final Exam: 35% (2 hours)

The Mid-term Test and the Final Exam will be “closed books/closed notes”, but a

formula sheet will be provided to assist you. A copy of the latter will be circulated

well in advance, as will details of the material that is examinable in each case.

According to the University of Victoria Calendar http://web.uvic.ca/calendar

“A student may not attempt a course a third time without the prior approval of the Dean of

the Faculty and the Chair of the Department in which the course is offered unless the

calendar course entry states that the course may be repeated for additional credit. A student

who has not received this approval may be deregistered from the course at any point and

may be asked to withdraw from his or her declared or intended program.”

In order to request permission to attempt this course for the third time, you must follow the

instructions provided under the link Repeating Courses at

http://www.uvic.ca/socialsciences/economics/undergraduate/home/course%20policies/index.

php

Failure to obtain permission will result in deregistration from the course.

UNDERGRADUATE COURSE POLICIES

Academic Integrity:

Academic integrity requires commitment to the values of honesty, trust, fairness, respect, and responsibility. Students are expected to observe the same standards of scholarly integrity as their academic and professional counterparts. A student who is found to have engaged in unethical academic behaviour, including the practices described in the Policy on Academic Integrity in the University Calendar, is subject to penalty by the University.

Attendance: Attendance will be taken in every class using the Tophat application. If for some reason you are unable to purchase Tophat, please let me know. A student missing 5 or more lectures will NOT be permitted to write the final exam. Students are expected to attend all classes in which they are enrolled (Attendance Policy). Students who do not attend classes must not assume that they have been dropped from a course by a department or an instructor. Courses that are not formally dropped will be given a failing grade, students may be required to withdraw, and will be required to pay the tuition fee for the course.

An instructor may refuse a student admission to a lecture or laboratory because of lateness, misconduct, inattention or failure to meet the responsibilities of the course. Students who neglect their academic work, including assignments, may be refused permission to write the final examination in a course. Instructors must inform students at the beginning of term, in writing, of the minimum attendance required at lectures and in laboratories in order to qualify to write examinations.

Students who are absent because of illness, an accident or family affliction should report to their instructors upon their return to classes. Term Assignments and Debarment from Examinations:

Students are expected to complete all quizzes and assignments.

Failure to complete will disqualify the student from writing the final

exam.

In some courses students may be assigned a final grade of N or debarred from writing final examinations if the required term work has not been completed to the satisfaction of the department. Instructors in such courses must advise students of the standard required in term assignments and the circumstances under which they will be assigned a final grade of N or debarred from examinations.

Undergraduate Grading Scale

Passing Grades Grade Point Value Percentage *

A+

A

A-

9

8

7

90 – 100

85 – 89

80 – 84

An A+, A, or A- is earned by work which is technically superior, shows mastery of the subject matter, and

in the case of an A+ offers original insight and/or goes beyond course expectations. Normally achieved by a

minority of students.

B+

B

B-

6

5

4

77 – 79

73 – 76

70 – 72

A B+, B, or B- is earned by work that indicates a good comprehension of the course material, a good

command of the skills needed to work with the course material, and the student’s full engagement with the

course requirements and activities. A B+ represents a more complex understanding and/or application of the

course material. Normally achieved by the largest number of students.

C+

C

3

2

65 – 69

60 – 64

A C+ or C is earned by work that indicates an adequate comprehension of the course material and the skills

needed to work with the course material and that indicates the student has met the basic requirements for

completing assigned work and/or participating in class activities.

D 1 50 – 59

A D is earned by work that indicates minimal command of the course materials and/or minimal participation

in class activities that is worthy of course credit toward the degree.

COM Excluded Grade N/A

Complete (pass). Used only for 0-unit courses and those credit courses designated by the Senate. Such

courses are identified in the course listings.

CTN Excluded Grade N/A

Continuing. Denotes the first half of a full-year course.

F 0 0 – 49

F is earned by work, which after the completion of course requirements, is inadequate and unworthy of

course credit towards the degree.

N 0 0 – 49

Did not write examination or complete course requirements by the end of term or session; no supplemental.

* The grading scale for the evaluation of course achievement at the University of Victoria is a percentage

scale that translates to a 9 point GPA/letter grade system. The 9 point GPA system is the sole basis for the

calculation of grade point averages and academic standing. Standardized percentage ranges have been

established as the basis for the assignment of letter grades. The percentage grades are displayed on the

official and administrative transcripts in order to provide fine grained course assessment which will be

useful to students particularly in their application to graduate studies and for external scholarships and

funding. Comparative grading information (average grade [mean] for the class), along with the number of

students in the class, is displayed for each course section for which percentage grades are assigned

Late assignments: Late assignments will not be accepted unless prior arrangement has been made with the course instructor.

ACADEMIC CONCESSIONS Make-up exams and Academic Concessions BEFORE final grades have been submitted Students may request deferral or substitution of a mid-term test or exam, or of other work which is due during the term, directly to the instructor before final grades have been submitted. These requests should be in writing and include supporting documentation from a health professional. If you approve concessions, and if you wish to use this option, you should notify your students that make-up tests and exams can be invigilated on designated Friday afternoons (not every Friday) at 2:30 in BEC 355. Designated Friday’s will be posted at the start of term. Students must be registered with the main office by their instructor no later than the Wednesday before the exam. Students who miss scheduled make-up exams must provide a medical note each time.

Academic Concessions AFTER you have submitted final grades: Students who have not completed all course requirements at the time of course grade submission are to be advised to obtain a Request for Academic Concession (RAC) form from Undergraduate Records. In these cases, a final grade of N should be entered when submitting grades and if a RAC is submitted by the student and approved by you and the Chair, Undergraduate Records will change the submitted grade to DEF. DEF grades can be changed on a grade change form when all course requirements are completed. For Graduate deferred (INC) grades please see the Graduate Secretary.

Policies This course adheres to the Undergraduate Course Policies of the Department of Economics that deal with the following issues:

Academic concessions

Academic integrity (plagiarism and cheating)

Attendance

Grading

Inclusivity and diversity

Late adds

Late assignments

Repeating courses

Review of an assigned grade

Students with a disability

Term assignments and debarment from examinations

Travel plans Further information related to policies: Examinations Attendance at all scheduled examinations is mandatory. Consideration for missed examinations will be given only on the basis of documented illness, accident or family affliction, and for no other reasons. In the event of a missed final examination, students are advised to follow the procedures outlined in the University Calendar: https://web.uvic.ca/calendar2017-05/undergrad/info/regulations/concessions.html# Students are advised not to make work or travel plans until after the examination timetable has been finalized. Students who wish to finalize their travel plans at an earlier date should book flights that depart after the end of the examination period. There will be no special accommodation if travel plans conflict with the examination. Waitlist Policies

Enrolment limits are determined by classroom capacity. Instructors have no discretion to raise the cap or admit waitlisted students. While waiting for enrolled students to drop, waitlisted students must attend all classes and submit assignments according to the normal deadline.

Enrolled students who do not show up in the first three lectures may lose their seats. Enrolled students who decide not to take the course are responsible for initiating their dropping out of the course, and are urged to do so as promptly as possible out of courtesy toward waitlisted students.

Classroom Etiquette Behave politely and professionally. Do not disturb or distract your fellow students or the instructor. Academic Integrity Please browse What is Plagiarism for the definition of plagiarism. Language English is the language of instruction at the University and for all aspects of this course. Dictionaries are not allowed in examinations.

E-mail

You may contact me at my U Vic email address. Please include both your legal name (the name in the university records) and course title in the subject of your email. Your V# (student ID) must be included in the body of the email. Without such information, it is sometimes hard for the instructor to understand the nature of your queries. Please avoid inappropriate nicknames, email ids and signatures. Text message lingo should not be used.

You should contact me by email primarily on matters that relate to your personal participation, e.g. you have a medical condition that prevents you from taking an exam. It is best to raise questions related to course materials in class or in person during office hours. You may ask simple short questions via email; however, I may answer directly or I may reply telling you that I will cover that in class or it is best to explain the question in person. E-mail is a terribly inefficient way of communicating with these types of issues. General administrative matters such as the arrangement and the format for the assignments or exams will ONLY be discussed in class and no answers will be provided via email on these issues.

Repeating Courses (to be included in course outlines for these courses: 103,104,203,204,245,246,313,345,350) Be aware of the following policy regarding the repeating of courses. According to the University of Victoria Calendar (http://web.uvic.ca/calendar2017-05/undergrad/info/regulations/repeating-courses.html#):

A student may not attempt a course a third time without the prior approval of the Dean

of the Faculty and the Chair of the Department in which the course is off ered unless the calendar course entry states that the course may be repeated for additional credit. A student who has not received this approval may be deregistered from the course at any point and may be asked to withdraw from his or her declared or intended program.

In order to request permission to attempt this course for the third time, you must follow the instructions provided under the link Repeating Courses at http://www.uvic.ca/socialsciences/economics/undergraduate/home/courses/course-policies.php Failure to obtain permission will result in deregistration from the course.

Travel Plans Students are advised not to make work or travel plans until after the examination timetable has been finalized. Students who wish to finalize their travel plans at an earlier date should book flights that depart after the end of the examination period. There will be no special accommodation if travel plans conflict with the examination. Students with a Disability The University aims to provide equal opportunities and access for all students to enjoy the benefits and privileges of its classes and curriculum and to meet the syllabus requirements. Reasonable and appropriate accommodation will be made available to students with documented disabilities (physical, mental, learning) in order to give them the opportunity to successfully meet the essential requirements of a course. The accommodation will not alter academic standards or learning outcomes, although the student may be allowed to demonstrate knowledge and skills in a different way.

Students with disabilities seeking academic accommodation are expected to contact the Resource Centre for Students with a Disability (http://rcsd.uvic.ca/) as early as possible to avoid a delay in service, to initiate the process of determining and arranging appropriate academic accommodation in individual situations. In order to receive course-based and exam-based accommodations, instructors must be notified of student needs. For example, if a student requires additional time on exams, assistance with note-taking or a substitute assignment, the instructor needs to be informed. At the start of each academic term, students fill in a Memo to Professors Form and hand it in to the RCSD. Only instructors listed on the request form will receive a copy of this memo. The memo confirms that the student is registered with the RCSD and lists the accommodations to which the student is entitled and has requested. It is the student’s responsibility to introduce themselves to their instructors to discuss the contents of the memo and make any necessary arrangements to receive accommodations.

The memo’s collection, protection, retention and disclosure is governed by provisions of the B.C. Freedom of Information and Protection of Privacy Act.

Policy on Inclusivity and Diversity The University of Victoria is committed to promoting, providing and protecting a positive, supportive and safe learning and working environment for all its members. S:\DEPT OF ECONOMICS\TEACHING PROGRAMS\Course Outline resources/Course Policies.doc

Last revised: July 2012

Course Experience Survey (CES) I value your feedback on this course. Towards the end of term, as in all other courses at UVic, you will have the opportunity to complete an anonymous survey regarding your learning experience (CES). The survey is vital to providing feedback to me regarding the course and my teaching, as well as to help the department improve the overall program for students in the future. The survey is accessed via MyPage and can be done on your laptop, tablet, or mobile device. I will remind you and provide you with more detailed information nearer the time but please be thinking about this important activity during the course.

Grade Submission:

Final grades are submitted electronically to the Chair for approval through the FAST program available on My Page” See http://registrar.uvic.ca/faculty/fast/index.html for

tutorials. The Chair will then submit the approved grades to Records. Grades should be received in Records 7 days after the final exam or, for courses with no exam, 7 days after the last day of class. If you are unable to meet this deadline and you have students in your class who will be graduating at the end of the term, you must submit the grades for those students ahead of time using an auxiliary grade sheet.

Term Assessment- Summer 2017

Week # Monday Tuesday Wednesday Thursday Friday

(1)

May

8 9

10

Labs #1

11

Labs #1

12

(2)

May

15

Lab #1

16

Lab #1

17

Lab #2

18

Lab #2

19

Asmt 1 Due

(3)

May

22

Holiday

23

24

Lab #3

25

Lab #3

26

(4)

May/June

29

Lab #4

30

Lab #4

31

Lab #5

Midterm

1

Lab #5

2

No Class Lecture

Asmt 2 Due

(5)

June 5

Lab #6

6

No Lecture

Lab #6

7

Lab #7

8

Lab #7

9

(6)

June

12

Lab #8

13

Lab #8

14

Lab #9

15

Lab #9

16

Asmt 3 due

(7)

June

19

Lab #10

20

Lab #10

21 22 23

(8)

June

26 27 28 29 30

Final exam