the learners are expected to acquire skills in collection, organisation and presentation of quantitative and qualitative information pertaining to various simple economic aspects systematically. It also intends to provide some basic statistical tools to analyse, and interpret any economic information and draw appropriate inferences. In this process, the learners are also expected to understand the behaviour of various economic data.
Index NumberDefinition and Meaning of Index Number, Characteristics of Index Number, Use of Index Number, Base Year, Fixed Base Method, Chain Base Method, Conversion of Fixed Base to China Base and Chain Base to Fixed Base, Computation of Index Number, Laspeyre’s Formula, Paasche’s Formula, Fischer’s Formula, Cost of Living Index Number, Explanation and Construction, Use and Limitations
Linear Correlation
Introduction, Meaning and Definition of Linear Correlation, Positive Correlation, Negative Correlation, Correlation and Coefficient of Correlation, Scatter Diagram Method, Karl Pearson’s Product Moment Method, Properties of Coefficient of Correlation, Interpretation of the Value of Correlation Coefficient, Spearman’s Rank Correlation Method, Precautions in the interpretation of Correlation Coefficient
Linear Regression
Introduction, Linear Regression Model, Fitting of Regression Line, Utility of the study of Regression, Regression Coefficient from Covariance and Correlation Coefficient, Coefficient of Determination, Properties of Regression Coefficient, Precautions while using Regression
Time Series
Introduction, Meaning of Time Series, Importance of Time Series, Definition of Time Series, Components of time series, Long-term Component or Trend, Seasonal Component, Cyclical Component, Random or Irregular Component
Probability
Introduction, Random Experiment and Sample Space, Events : Certain Event, Impossible Event, Special Event , Mathematical Definition of Probability, Law of Addition of Probability, Conditional Probability, Independent Events, Law of Multiplication of Probability, Selection with or without Replacement, Statistical Definition of Probability
Random Variable and Discrete Probability Distribution
Random Variable, Discrete Random Variable, Continuous Random Variable, Discrete Probability Distribution, Binomial Probability Distribution
Normal Distribution
Normal Distribution : Introduction, Probability Density Function, Standard Normal Variable and Standard Normal Distribution, Method of Finding Probability (area) from the tables of Standard Normal Curve, Properties of Normal Distribution, Properties of Standard Normal Distribution, Illustrations
Limit
Introduction, Real Line and its Interval, Modulus, Neighbourhood, Limit of a Function, Working Rules of Limit, Standard Forms of Limit
Differentiation
Introduction, Definition : Differentiation and derivative, Some Standard Derivative, Working rules of Differentiation, Second order differentiation, Increasing and decreasing function, Maximum and minimum value of function, Marginal Income and Marginal cost, Elasticity of demand, Minimization of cost function and maximization of revenue function and profit function