In order to stand out in today’s competitive job market, new economics graduates need to bring special skills and abilities that give them the potential to hit the ground running and contribute immediately. One area where a student can have an immediate competitive advantage over both new graduates and existing employees is in the application of statistical analysis skills to economic, in particular, business problems. Our intent in this course is to build your statistical background and to give you the statistical skills necessary to meet the needs of business and the real-world decision-making problems. In this course, we discuss real-world applications as a motivation for learning business statistics. We will focus on decision making and business applications and provide you with an understanding of the roll of business statistics in decision making.
To enhance students’ appreciation for statistics, we emphasize computer-based analysis, rather than manual computation. To this end, Microsoft Excel is used extensively throughout the course.