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ING2053 Statistics and Economics

Course description for academic year 2017/2018

Contents and structure

  • Average and spread
  • Histograms
  • Probability and combinatorics
  • Discrete and continuous distributions
  • Estimation and confidence intervals
  • Hypothesis test, linear regression and correlation
  • Business in relation to economic systems
  • Cost and income theory
  • Product costing
  • Cost- profit-volume analysis (CVP)
  • Investment analysis
  • Relevant costs and decision problems

Learning Outcome


The student

  • Can explain probability calculations, combinatorics and applications.
  • Can describe basic terms, for example: random variables, expectation, variance and standard deviation.
  • Knows different probability distributions, for example: normal distribution, binomial distribution; and test methods.
  • Can explain regression.
  • Can explain the central limit theorem and its relevance.
  • Can explain the difference between conditional and unconditional probabilities of dependent and independent events.
  • Can define term in economics and can explain how costs and incomes operate in a company.
  • Can use economic tools like CVP analysis, product costing and investment models to make good short long term decisions.
  • Can explain the business organization, value, productivity and profitability.


The student can:

  • Use basic methods to analysis and describe data.
  • Use probability calculation generally and in connection with random variables.
  • Calculate simultaneous probabilities and covariance.
  • Create different types of confidence intervals of different types of data.
  • Carry out hypothesis tests related to normal- and t-distributions.
  • Carry out simple linear regressions and hypothesis test regarding to the equation of regression line with inclination and calculate the prediction interval.
  • Use economic decision tools and can apply it to practical an theoretical issues related to investment, financing and business operations.

-General qualifications:

The student can:

  • Use knowledge of the course as basis for other subjects in the education, such as thesis writing, included bachelor thesis.
  • Read technical literature and communicate in the field of statistical concepts and methods.
  • Communicate with economists about economic issues and notice the relationship between practical challenges and economy.

Entry requirements


Recommended previous knowledge

Basic mathematical operations - funktions - integration - logistics

Teaching methods

Lectures and excercises.

The course consist of two parts, statistics and economics, both parts must be passed.

Compulsory learning activities

1) Statistics: course requirements will be specified in the course plan by semester start.

2) Economics: course requirements will be specified in the course plan by semester start.


Part 1: Written exam Statistics, 3 hours, accounts for 50 % of the final grade.

Part 2: Written exam Economics, 3 hours, accounts for 50 % of the final grade.

There is an separat exam in each part of the course. If one exam is failed, a new exam may be carried out in this part only.

Both parts must be passed.

Grade:  A - E / passed;  F / failed.

Examination support material

At both exams: The University College¿s calculator (Casio fx-82Es) will be handed out during the exam

More about examination support material