DEPARTMENT OF ECONOMICS

FACULTY OF ECONOMICS AND BUSINESS

UNIVERSITAS INDONESIA

Syllabus
ECEU601200
Statistics for Economics and Business
3 Credits
Odd Semester 2016/2017
A. Lecturers:
Lecturers
Khoirunurrofik (Coordinator)
Sita Wardani
Pribadi Setiyanto
Uka Wikarya
Diana Stojanovic /Kenny Devita
Khoirunurrofik
Sita Wardani
Chotib
Omas Bulan Samosir

Assistants
Edith Zheng Wen Yuan
Iqbal Makbul Taher
Fatiya Rumi Humaira
Qolbie Ardie
Lanni P. Rosetty S.
Piyan Amir
Iqbal Makbul Taher
Dewi Sukma
Azizon

B. Subject Description
Statistical concepts are frequently used in economics, social sciences, and business. Statistics
for Economic and Business I is an introduction to these widely used concepts intended to give
the student a better understanding of the probabilistic nature of events and how statistics can be
used to understand these events. After completing this course, students should feel much more
comfortable reading about economics, social sciences, and business, as they will be able to
critically evaluate such readings using the knowledge of statistics gained in this course.
In order to achieve the overall goals of a better understanding of the probabilistic nature of
events and the ways in which statistics can be used to understand these events, we focus on the
following learning objectives:
Student will become proficient in:
1) summarizing data effectively
2) analyzing data using statistical tests
3) interpreting statistical software output
4) making simple statistical inferences.
The emphasis of the course will be on sampling distributions, confidence interval estimation,
and the fundamentals of hypothesis testing. The course is divided into five major topics, as
indicated in the class timetable.

C. Course Type
Compulsory

D. Course Prerequisites
None

F. References
Principally, students are free to choose any textbook on statistics as long as the chosen reference is
relevant and can help them comprehend the subject and its applications properly. The list below
provides some recommended references.:

Required readings
1. Sanjiv Jaggia and Alison Kelly (2013), Business Statistics: Communicating with Numbers,
McGraw-Hill. (JK).

2. Douglas A. Lind, William G. Marchal and Samuel A. Wathen (2010), Statistical Techniques in
Business & Economics, 14th ed , McGraw-Hill. (LMW).

Recommended References
1. Paul Newbold, William L. Carson and Betty Thorne (2010), Statistics for Business and
Economics, Seventh Ed. Prentice Hall, Inc.
2. James T. Mc Clave, P. George Benson and Terry Sincich (2008), Statistics for Business and
Economics, Tenth Ed., Pearson Education International.

G. Assessment

Assessment Method

Weight (%)

Midterm exam
Final exam
Group Project
Class participation
(discussions and
presentations)
5. Assignments (Homework,
Quiz)

30
30
15
10

1.
2.
3.
4.

15

H. Class Timetable
Week
1, 2,
3

Topics & Subtopics

a.
b.

c.

d.

e.

5, 6,
7

a.

b.

Classs rules
Introduction
What is Statistics
Statistics definitions and notation
Type of data
Descriptive Analysis I:
Frequency distributions
Classification of variables
Graphs for data presentation
Central Tendencies & Dispersion
Arithmetic mean, geometric mean, median,
mode, weighted arithmetic mean
Standard Deviation and variance
Coefficient of Variation
Quartiles, Deciles, and Percentile
Descriptive Analysis II: Displaying and
Exploring Data
Dot plots
Stem-and-Leaf Displays
Box Plots
Outliers
Scatter Diagram
Contingency Table
Index Numbers
Simple Index, Aggregate Index
Weighted Indexes: Laspayres Price Index,
Paasches Price Index and Fishers Ideal Index
Nominal and real value
Changing the base year
Economic Application
Probability Concepts
Probability Rules
Basic Concept of Probability, permutations
and combinations
Joint Probability
Conditional Probability
Expected value
Tree Diagram

Lecture
Ressource

Methods

JK: 1, 2, 3
LMW: 1, 2,
3, 4

Lecturing
Active Learning
and problem
solving

JK: 19
LMW: 15

Active Learning
and problem
solving

JK: 4, 5, 6
LMW: 5, 6

Active Learning
and problem
solving

Probability Distributions
Discrete and Continuous Random Variable
Mean and Variance of Probability Distribution
Binomial Probability Distribution

MIDTERM EXAM

Week

10

11,
12

13,
14

Topics & Subtopics

Other Discrete Distributions

Poisson Probability Distribution
Exponential Distribution
Continuous Distributions
Uniform Distribution
Normal Probability Distribution
Normal Probability Distribution as
approximation of Binomial and Poisson
Probability Distribution
Sampling Distributions
Introduction to Sampling Methods
Introduction to Sampling Distributions
Sampling Distribution of the sample Mean
Sampling Distribution of the sample
Proportion
Inferential Statistics: Interval Estimation
Introduction to inferential statistics (mean and
proportion):
i. Point estimation
ii. Interval estimation
iii. Hypothesis testing
Determining the sample size: Mean and
Proportion
Testing Hypotheses
Hypothesis Testing Procedure
Hypothesis Testing of Means
Hypothesis Testing of Proportions
Type I and type II errors
Final review

Lecture
Ressource

Methods

JK: 5
LMW:6

Active Learning
and problem
solving

JK: 6
LMW: 7

Active Learning
and problem
solving

JK: 7
LMW: 8

Active Learning
and problem
solving

JK: 8
LMW: 9

Active Learning
and problem
solving

JK: 9, 10
LMW: 10

Active Learning
and problem
solving

FINAL EXAM

I. Faculty and Program Policy

Attendance
Faculty of Economics, Universitas Indonesia, requires minimum attendance as eligibility to take
the final exam and to pass the course: 80% of lecturing weeks (maximum 2 absences)
Plagiarism
Students should obey the intellectual property rights. University does not tolerate any
infringement of this rule. (See separate explanation)

Statement of Authorship
Student should attach and sign the statement of authorship (available at the resource center) to
every paper they produce. Every group member should sign the statement. If the paper is not
accompanied by the Statement of Authorship, lecturer may refuse to accept it or alternatively may
reduce the assigned grade.
APPENDIX

Expected Learning Outcome

Intensity
Level

Expected Learning Outcome/Competency

Knowledge

General economic knowledge (GK):

GK 1. Discussing basic economic theories using mathematical and graphical
tools
GK 2. Understanding the relevance of economic theories in daily life
GK 3. Understanding the development of economic thoughts and theories and
their origins
GK 4. Comprehending basic economic theories and employing them to discuss
real economic phenomena

Medium
Medium

Specific economic knowledge (SK):

SK 1. Discussing both economic and non-economic factors in the development
of economy
SK 2. Discussing the developments and directions of economic policies in
general
SK 3. Understanding public, industrial and other specific economic theories and
utilizing them to discuss economic phenomena in the related fields

Skill

General economic skill (GS):

GS 1. Accessing, processing, presenting, and interpreting economic variables
and indicators
GS 2. Processing economic data using statistical, econometrical, and
mathematical software

Medium
-

Specific economic skill (SS):

SS 1. Analyzing the development and the direction of specific economic policies
in the related fields (public, industry, etc.)
SS 2. Utilizing mathematical tools to perform dynamic economic analysis
SS 3. Selecting and using appropriate research methodology as tools for
performing economic analysis
SS 4. Analyzing the development and the direction of general economic policies
in Indonesian, regional, and global economy
SS 5. Writing professional reports with rigorous economic analysis as a part of
an essay, article, or academic paper.

Transferable/generic skill (TS):

TS 1. Thinking critically, creatively, and innovatively and nurturing intellectual
curiosity to solve problems individually or collaboratively

High

Intensity
Level

Expected Learning Outcome/Competency

TS 2. Operating and utilizing information communication technology
TS 3. Speaking and writing properly in Indonesian and English in both scientific
and non-scientific settings
TS 4. Planning logical, systematic writing
TS 5. Identifying, searching, and finding relevant sources of reference for
writing
TS 6. Ability to write reports using formal language and scientific rigor -

High
High
High
High
High
High

Attitude and
professional
ethics

Transferrable/generic attitude (TA):

TA 1. Sensitive and responsive to environmental, community, state, and national
problems
TA 2. Virtuous and respectful to others
TA 3. Being independent in financial and thought

Low
High
Medium