ECN 3971 - STATISTICS APPLIED TO ECONOMICS I
FALL 2006
2:00-3:15 TR

"There are three kinds of lies: lies, damned lies, and statistics." -- Disraeli

"Statistical thinking will one day be as necessary for efficient citizenship as the ability to read and write." --H.G. Wells

Instructor: Dr. Linda S. Ghent
Phone: 581-6331
Office: 2871 (215K) Coleman Hall
Office Hours: 1:30-3:30 MW
email: lsghent@eiu.edu

Objectives:

At the end of the semester, students should understand:

• how a basic knowledge of statistics and probability can improve economic decisionmaking
• how tables and graphs can be used to describe data
• how to calculate measures of central tendency and variability
• how to estimate linear relationships between variables
• probability rules
• the characteristics of the binomial, hypergeometric, Poisson, normal, and exponential distributions
• how to construct confidence intervals for various measures
• hypothesis testing

Required Textbook:

Newbold, Paul, William L. Carlson, and Betty Thorne. Statistics for Business and Economics, 6/e. (Upper Saddle River, New Jersey: 2007.)

Grades will be determined using a 10-point scale. There will be no "curve". Final grades will be comprised of:

• Homework       20 percent
• 3 unit exams     80 percent

Policies:

Absolutely no cell phones or pagers are to be used during the class. You may not use your cell phone as a calculator. Turn off your phone before class begins.

Homework
We will have several homework assignments throughout the semester. These will be given at the end of class and will be due by the beginning of the next class period. Since we will have many assignments, I will drop your lowest homework grade in determining your final homework average. Therefore, no late homework assignments will be accepted (regardless of whether the absence is excused or not). If you miss class when an assignment is given, it is your responsibility to get a copy of the assignment and complete it by the due date. No late homework assignments will be accepted at any time - no excuses!

Attendance
Regular attendance is necessary for you to understand the material covered in this course. While I will not make attendance an explicit part of your grade, I will be recording attendance every day. Keep in mind that it will be used in determining the final grade for a student whose average is near a borderline. I reserve the right to raise or lower your grade average by 1 to 2 points at the end of the semester based on your attendance record.

Exams
All exams will consist of problems and a few multiple-choice questions. The final exam is NOT cumulative. However, the last unit exam will be given during the final exam time. If you miss an exam and provide me with a legitimate (and properly documented) excuse BEFORE the exam, you will have the option of increasing the weight of your remaining exams, or taking a make-up exam (which must be taken before or during the next class period following the exam). If you miss an exam and do not provide me with a legitimate excuse beforehand, you will receive a grade of zero for that exam.

Exam Schedule (subject to change):
Exam 1 - Thursday, September 26th
Exam 2 - Thursday, October 26th
Exam 3 - Monday, December 11th (2:45-4:45)