University of Wisconsin Fall Semester 2011Department of Economics Economics 310Statistics: Measurement in EconomicsProfessor Jack PorterSocial Sciences Building #[email protected] Hours: Tuesday 10:45-11:30, 2:15-3:15, and by appointmentTA Lihan LiuSocial Sciences Building #[email protected] Hours: Monday 1:15-3:15 and by appointmentTA Nathan MarwellSocial Sciences Building #[email protected] Hours: Wednesday 1:30-3:30 and by appointmentCourse DescriptionEconomics 310 is a semester long course in probability and statistical inference. Probabil-ity is a branch of mathematics which provides us with a method of reasoning about uncertainenvironments. During the first half of the course, we will study both probability theory andits application. The theory of statistical inference provides the basis for the rigorous analysisand interpretation of numerical data obtained through random samples. The second half ofthe course will be spent learning how the basic tools of statistical inference work and howto use them.Lectures and SectionsEach week there will be two lectures of 1 1/4 hours. In addition there will be a sectionmeeting once a week in which problems sets and other issues from lecture will be discussed.Attendance is expected.Lecture 001 TR 9:30a-10:45a Soc Sci Rm 6203Lab 301 (Lihan) R 4:00p Soc Sci Rm 6228Lab 302 (Nathan) M 4:00p Soc Sci Rm 5322Lab 304 (Lihan) F 1:20p Soc Sci Rm 6322Lab 305 (Nathan) F 8:15a Soc Sci Rm 43141PrerequisitesOne intro economics course and Math 211 or 221BooksThe textbook for the course is:Sandholm, W., and B. Saraniti, Vital Statistics: Probability and Statistics for Economicand Business Decisions, to be published by Addison-Wesley.This book is available for purchase from the Social Sciences Copy Center. Some additionalcopies will be held on reserve at the Social Sciences Library. Another (optional) helpfulreference is:Keller, G., (2005), Statistics for Management and Economics, 7th ed., Duxbury-Thomson-Brooks-Cole.Problems SetsThere will be eight problem sets over the course of the semester and each one will bedue before class on the specified dates. Late assignments will not be accepted. However, thelowest problem set grade will not count toward your semester grade. Students are encouragedto work with others in the class on homework, but each student must write up his/her ownsolutions.Exam Schedule Lecture 001 (TR 9:30a)Midterm Exam October 25 in class (arrive 15 min. early)Final Exam December 20 7:25p∗∗Please note that the final exam date/time has changed.GradingGrades will be based on the midterm exam (35%), a final exam (50%), and the problemsets (15%).Core Topics1. Probability Basics (Chapters 1, 2)2. Random Variables, Expectations (Chapters 3, 4)3. Discrete/Continuous Distributions (Chapters 6, 7)4. Law of Large Numbers, Central Limit Theorem (Chapter 9)5. Statistics Basics (Chapters 13, 14)6. Point/Interval Estimation (Chapters 15, 16)27. Hypothesis Testing (Chapter 17)Websitehttp://www.ssc.wisc.edu/∼jrporter/ec310/econ310.htmlRecordingAudio and/or video recording of the class is prohibited.Students with DisabilitiesPlease contact Prof. Porter early in the semester if you have a documented requirementfor accommodation to obtain equal access to this class or to any assignment in this class.Grievance ProcedureThe Department of Economics has developed a grievance procedure through which youmay register comments or complaints about a course, an instructor, or a teaching assistant.The Department continues to provide a course evaluation each semester in every class. Ifyou wish to make anonymous complaints to an instructor or teaching assistant, the appro-priate vehicle is the course evaluation. If you have a disagreement with an instructor or ateaching assistant, we strongly encourage you to try to resolve the dispute with him or herdirectly. The grievance procedure is designed for situations where neither of these channelsis appropriate.If you wish to file a grievance, you should go to Social Science Room 7238 and requesta Course Comment Sheet. When completing the comment sheet, you will need to providea detailed statement that describes what aspects of the course you find unsatisfactory. Youwill need to sign the sheet and provide your student identification number, your address, anda phone where you can be reached. The Department plans to investigate comments fullyand will respond in writing to complaints.Your name, address, phone number, and student ID number will not be revealed to theinstructor or teaching assistant involved and will be treated as confidential. The Departmentneeds this information, because it may become necessary for a commenting student to havea meeting with the department chair or a nominee to gather additional information. A nameand address are necessary for providing a written
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