4.0

credits

Average Course Rating

In order to understand and evaluate risk and uncertainty it is essential to have a strong command of basic statistical concepts and techniques. This course is designed to furnish students with the fundamental tools of statistical analysis, including analysis of descriptive statistics, probability distributions, statistical inference and related tests, correlation and conditional expectation. In addition to providing familiarity with statistical principles, the course will also include an introduction to basic statistical software packages, namely STATA and advanced tools in Excel. It is a pre-requisite course for quantitative approaches to risk assessment. Moreover, this course develops the basic quantitative tools that are necessary for risk analysis. It gives a review of basic mathematical concepts used in economics and risk analysis, including pre-calculus and calculus principles. It also develops tools for data management using Excel. The course therefore provides students with a ready-to-use statistical toolbox that can be used during the remainder of the program.