information session on second major in applied statistics (aps)

25 September 200925 September 2009 School of EconomicsSchool of Economics 11

Information Session on Information Session on Second Major in Second Major in

Applied Statistics (APS)Applied Statistics (APS)

Prepared by Kwong Koon Prepared by Kwong Koon ShingShing


What does a statistician do?What does a statistician do? collect datacollect data analyze data analyze data draw practical conclusion from datadraw practical conclusion from data

Examples of a career in statisticsExamples of a career in statistics actuaryactuary biostatistician biostatistician quality control statisticianquality control statistician government statisticiangovernment statistician market research statisticianmarket research statistician risk analystrisk analyst university professoruniversity professor


Examples of statistics applied on real-life Examples of statistics applied on real-life problemsproblems

Establish the model to predict the impact of H1N1 Establish the model to predict the impact of H1N1 outbreaks in Singapore outbreaks in Singapore (stochastic modeling)(stochastic modeling)

Determine the Singapore Consumer Price Index Determine the Singapore Consumer Price Index (sampling) (sampling)

Estimate the Singapore aging population Estimate the Singapore aging population (estimation)(estimation)

Statistics used in courtroom Statistics used in courtroom (hypothesis testing)(hypothesis testing) Reduce junk mail using data mining techniques Reduce junk mail using data mining techniques

(decision analysis & hypothesis testing)(decision analysis & hypothesis testing) Determine the randomness in the Singapore stock Determine the randomness in the Singapore stock

market market (time series & regression)(time series & regression) Set up an experiment for testing the safety of a Set up an experiment for testing the safety of a

new toy new toy (experimental design)(experimental design) Apply in business process improvement by using six Apply in business process improvement by using six

sigma technique sigma technique (statistical quality control)(statistical quality control) Assess the credit risk of debtor Assess the credit risk of debtor (risk analysis)(risk analysis) Discourage gambling Discourage gambling (probability theory)(probability theory)


What skills are needWhat skills are need

Quantitative: statistics and mathematicsQuantitative: statistics and mathematics Problem solving technique: analysis, Problem solving technique: analysis,

organizing and managing projectsorganizing and managing projects Communication: verbal, written, and Communication: verbal, written, and

teamworkteamwork Computing: use of statistical software and Computing: use of statistical software and

programmingprogramming Knowledge of other discipline: for practical Knowledge of other discipline: for practical

applications applications


Important changes in the statistics majorImportant changes in the statistics major

Practice Associate Professor Kwong Koon Practice Associate Professor Kwong Koon Shing was appointed as the chairman of Shing was appointed as the chairman of Statistics Committee in the School of Statistics Committee in the School of Economics on 22 July 2009Economics on 22 July 2009

Second major in Business Statistics is Second major in Business Statistics is changed to second major in Applied changed to second major in Applied Statistics (APS) Statistics (APS)

The curriculum of the major has been The curriculum of the major has been revamped revamped


Second major in Applied Statistics (APS)Second major in Applied Statistics (APS)

Objectives of APSObjectives of APS to equip students with quantitative skills to equip students with quantitative skills

with a firm foundation in statistical theorywith a firm foundation in statistical theory

to enhance the understanding of how to enhance the understanding of how statistics is applied in real life issuesstatistics is applied in real life issues


Number of compulsory courses reduced to 2Number of compulsory courses reduced to 2

Introductory Statistics (STAT101) or Introductory Statistics (STAT101) or Introduction to Statistical Theory Introduction to Statistical Theory (STAT151)(STAT151)

Probability Theory and Applications Probability Theory and Applications (STAT201)(STAT201)

(no minimum grade requirement of (no minimum grade requirement of STAT101 for taking STAT201)STAT101 for taking STAT201)


Classify the elective courses into two Classify the elective courses into two categoriescategories Take any three courses in the Methodology Category:Take any three courses in the Methodology Category:

Survey Methods (STAT204)Survey Methods (STAT204) Computational Statistics (STAT205)Computational Statistics (STAT205) Applied Stochastic Models (STAT306)Applied Stochastic Models (STAT306) Applied Regression Methods (STAT312)Applied Regression Methods (STAT312) Intermediate Mathematics for Economics (ECON205)Intermediate Mathematics for Economics (ECON205) Economic Forecasting (ECON233)Economic Forecasting (ECON233) Other approved coursesOther approved courses

Take any three courses in the Application Category:Take any three courses in the Application Category: Applied Econometrics (ECON107)Applied Econometrics (ECON107) Intermediate Econometrics (ECON207)Intermediate Econometrics (ECON207) Financial Econometrics (ECON221)Financial Econometrics (ECON221) Life Contingent Risks (STAT310)Life Contingent Risks (STAT310) Risk Theory and Loss Models (STAT311)Risk Theory and Loss Models (STAT311) Quantitative Risk Analysis (STAT313)Quantitative Risk Analysis (STAT313) Investment and Financial Data Analysis (QF302)Investment and Financial Data Analysis (QF302) Marketing Research (MKTG103)Marketing Research (MKTG103) Other approved coursesOther approved courses

Courses removed from the old curriculum:Courses removed from the old curriculum: Advanced Mathematical Methods (ECON305) Advanced Mathematical Methods (ECON305) Management Science (OPIM101)Management Science (OPIM101) Financial Mathematics (STAT203)Financial Mathematics (STAT203) Financial Data Analysis (Replaced by ECON233)Financial Data Analysis (Replaced by ECON233)


How the new curriculum affects youHow the new curriculum affects you

Students who have declared APS major Students who have declared APS major before the changes of curriculum should before the changes of curriculum should follow the old curriculum. However, the follow the old curriculum. However, the proposed new list of electives will still proposed new list of electives will still applicable to themapplicable to them

Students who declare APS major after the Students who declare APS major after the launch of new curriculum should follow the launch of new curriculum should follow the new curriculumnew curriculum


Time frame to phase in the new coursesTime frame to phase in the new courses

Term 1, 2009/2010Term 1, 2009/2010 Applied Regression Methods (STAT312)Applied Regression Methods (STAT312) Economic Forecasting (ECON233)Economic Forecasting (ECON233)

Term 2, 2009/2010 (subject to change and depend on Term 2, 2009/2010 (subject to change and depend on demand)demand)

Applied Stochastic Models (STAT306) Applied Stochastic Models (STAT306)

2010/2011 (subject to change and depend on the demand)2010/2011 (subject to change and depend on the demand) Economic Forecasting (ECON233)Economic Forecasting (ECON233) Quantitative Risk Analysis (STAT313)Quantitative Risk Analysis (STAT313) Applied Regression Methods (STAT312) or/and Applied Regression Methods (STAT312) or/and

Computational Statistics (STAT205) or/and Survey Methods Computational Statistics (STAT205) or/and Survey Methods (STAT204)(STAT204)


New APS website and flyersNew APS website and flyers

Updated information of curriculum is now Updated information of curriculum is now available in the new APS major website available in the new APS major website

New statistics major flyers are distributed New statistics major flyers are distributed on campus to promote and introduce the on campus to promote and introduce the new curriculumnew curriculum


The EndThe End

ThanksThanks

information session on second major in applied statistics (aps)

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