Statistical Techniques In Business And Economics Mcgraw Hill

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Aug 3, 2024, 5:10:12 PM8/3/24

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This specialized statistics course is designed to provideundergraduate business students a statistical methods curriculumwith special focus on the practical application of statisticaltechniques to business and economics problems. A web-based surveyapplication, Qualtrics, will be integrated into thecourse.

Students will acquire a foundation for pursuing quantitative andanalytical undergraduate and graduate courses in the areas offinance, operations management, managerial economics, industrialengineering, and applied business research methods. The analyticaltools and skills learned by the students from the course will beuseful in many professional contexts.

The course will be delivered via a combination of lectures,power-point presentations, and situational problem-solving,requiring students to apply common statistical tools (Excel) andtechniques to business and economics-related decision-making andresearch analysis situations. Computer-based statistical tools areutilized in tackling problem-solving.

The course is designed to meet and satisfy the learningstandards on quantitative analysis required by internationalaccrediting bodies for business schools, such as the Association toAdvance Collegiate Schools of Business (AACSB) and the AccreditingCouncil for Business Schools and Programs (ACBSP).

Preliminary Assignment: To help students getmaximum value from ISUP courses, instructors provide a reading or asmall number of readings or video clips to be read or viewed beforethe start of classes with a related task scheduled for class 1 inorder to 'jump-start' the learning process.

The School of Accounting, Finance, Economics and Decision Sciences offers courses leading to the Master of Science degree in Quantitative Economics. Along with completing the traditional core courses in Macroeconomics, Microeconomics, and Quantitative/Statistical Skills, students have the option to take electives in Economic Development, Energy, Trade, Analytics, and Community Development. Students have the option to also incorporate courses from outside the department after consultation with their academic advisors. Students regularly choose to include courses from Mathematics/Statistics, Political Science, Management, Finance, etc. Although all students complete the same core, our degree is still flexible enough to prepare students for a variety of potential future paths including jobs in private industry, government and non-profit roles, teaching at the secondary or junior college level, or future graduate degrees such as Law School or PhDs. Along with flexibility in course selection, students also have the option to complete many of their courses (particularly their electives) online.

The Quantitative Economics degree program at Western Illinois University has been designated by the U.S. Immigration and Customs Enforcement agency within the Department of Homeland Security as a STEM-eligible degree program (CIP code 45.0603). The STEM designation allows eligible graduates on student visas access to an Optional Practical Training (OPT) extension, up to 36 months, as compared to 12 months for non-STEM degrees. As an international student, the longer work authorization term may help you gain additional real-world skills and experience in the U.S.

Consultation with the program's graduate advisor concerning course selection is required to insure completion of all requirements. Students wishing to take a readings and/or internship course must receive approval from the Graduate Committee Chair prior to registration.

Students may select courses outside of the economics courses which will assist them in achieving their career goals. A maximum of six hours of related courses from other disciplines is allowed with permission of the graduate committee chairperson. The student may petition the school graduate committee for an additional three hours of related course work outside of the economics courses. All special permissions or petitions must be approved prior to registration. Transfer and extension credit will be accepted in accordance with current School of Graduate Studies policy.

The School of Accounting, Finance, Economics and Decision Sciences also offers a 18 s.h. post-baccalaureate certificate (PBC) in Business Analytics. The Business Analytics PBC offers the technical skills of data mining, statistical modeling, and forecasting for data-driven decision-making and for solving the analytical problems of the contemporary business world. For program details, go to the post-baccalaureate certificates page.

408G Economics for Decision-Makers. (3) This course develops the macro- and micro-economic concepts most useful for decision-makers. Topics covered include measures of aggregate economic activity, unemployment, inflation, business cycles, monetary policy, fiscal policy, international trade, market demand and supply, and alternate market structures. (Not open to students who have taken ECON 231 or 232, cannot be used to meet any requirements of the BA, BB, or MA economics degrees or to meet the economics requirements in any BB degree. It is designed only for the Pre-MBA minor and graduate students in areas other than economics.) Prerequisites: STAT 171 with a C or better.

410G Economics of Crime & Punishment. (3) Uses economic principles and statistical methods to analyze trends in crime, the economic approach to modeling crime, as well as the economic impacts from criminal behavior, as well as to evaluate various policies in criminal justice using economic principles. Prerequisites: ECON 232 and STAT 171, or permission of the instructor.

420G Economic Development. (3) A study of less developed countries; problems such as population growth, urbanization, agricultural transformation, unemployment, education and training, and capital formation are addressed. Solutions to these problems are examined and evaluated based on feasibility and practicality. A multi-disciplinary approach is used. Prerequisite: ECON 231, ECON 232; MATH 137 or ECON 381; or permission of the instructor.

428G American Economic History. (3) A study of the development of various economic institutions in the United States with special emphasis on the changing structure and performance of the economy from the colonial period to the present. Prerequisites: ECON 231, ECON 232, MATH 137 or ECON 381; or permission of the instructor.

430G (cross-listed with AGEC 430G) Environmental Economics. (3) This interdisciplinary course examines economic issues involving the interactions between humans and the environment. The course addresses conflicts in land, air, and water use and the role of assigned property rights and public policies in resolving environmental problems. Prerequisites: AGRI 220 or ECON 232.

432G Public Expenditures & Taxation. (3) Studies the role of government in promoting a system of effective markets. Includes analyses of the causes and implications of market inefficiencies, the economic rationale for government intervention in markets, and the criteria used for public investment decisions. Prerequisite: ECON 231, ECON 232; MATH 137 or ECON 381; or permission of the instructor.

465G Economics of Energy. (3) A study of primary and secondary sources of energy as they affect the levels of production and consumption in the economy. A general survey of the economic and regulatory problems of coal, petroleum, natural gas and nuclear industries (including those of utilities) and a brief discussion of the problems and prospects of alternative sources of energy in the context of national energy policies and individual decision making. Prerequisite: ECON 231, ECON 232; MATH 137 or ECON 381; or permission of the instructor.

470G International Trade. (3) A study of the theoretical and institutional aspects of international trade; effect of trade and factor movements on economic welfare; problems of international disequilibrium; and the search for economic stability and growth through international cooperation. Prerequisite: ECON 231, ECON 232; MATH 137 or ECON 381; or permission of the instructor.

481G Mathematical Economics. (3) Introduction to the mathematics most frequently used by economists-basic set theory; linear algebra; differentiation; comparative statistics; optimization; constrained optimization; linear programming. Prerequisites: ECON 381 (Grade of C or better) or passing department placement exam.

488G Experimental Economics. (3) Overview of scientific methodology relevant to studying economic decision-making. Best practices in collecting, managing, and presenting quantitative economic data and an introduction to the traditions of experimental economic design. Applied focus on software tools and project management. Prerequisites: STAT 171 and ECON 381; or permission of the instructor.

490G Introduction to Health Economics. (3) Application of basic economics to the health care industry. Issues surrounding the economic relationships among providers, insurers, and consumers of health care are examined in terms of market structure, economic motives, financial costs, and social costs and benefits. Prerequisites: ECON 232 and STAT 171; or permission of the instructor.

500 Macroeconomic Theory and Policy. (3) Current macroeconomic theory and policy concepts with an emphasis on a generalized model of the economy with multiple variables. Discusses short-term fluctuations (static and dynamic) and long-term growth theories with specific attention to policy implications and empirical research. Prerequisite: ECON 509 or equivalent.

502 Macroeconomics and Growth Theory. (3) A study of the aggregate theory of income, employment, and price levels using both comparative statics and dynamics, along with a discussion of business cycles and growth theories. Prerequisite: ECON 481G or permission of the graduate advisor and ECON 509 or equivalent.