ECON 180: Quantitative Methods for Economics and Business
Professor Robert J. Lemke
Department of Economics and Business
Lake Forest College
Fall 2009
Contact Information:
Office: 418 Young Hall
Office Phone: 847-735-5143
E-mail: lemke@lakeforest.edu
College Catalog Description
ECON 180 Quantitative Methods for Economics and Business Distribution analysis, sampling theory, statistical inference, correlation and regression analysis, with emphasis on application of statistical techniques using spreadsheet software to analyze economic and business issues. Also listed as BUSN 180.
Objectives and Expectations
There are three primary areas of study that we will cover: probability, statistics, and regression analysis. For each, we will develop theoretical results, apply the theory to solve problems, and develop computer skills to solve problems with Excel. I expect you will be a productive member of any study group you join. I also expect you will come to class every day, do the assigned readings before class, work the assignments and Excel projects in a timely manner, and see me outside of class at the first sign of difficulty.
Class Lectures
I teach two sections of ECON 180. Section one meets MWF 10:00 - 10:50 while section two meets MWF 11:00 - 11:50, both in Young Hall 320. You may attend either section as long as seats are available, though you must take exams during your registered section. Daily attendance and active participation in classroom discussions is expected. I reserve the right to lower the grade of any student who is cronically absent or tardy or exhibits disruptive behavior. All phones are to be turned off during class.
Office Hours and Class Tutor
Office hours are from 12:00 to 1:00 on Mondays, Wednesdays, and Fridays, and by appointment. Although I ask that you try to see me during ofice hours if possible, you are also welcome to stop by my office anytime to see if I am available. Outside of stopping by my office, the best way to contact me is by e-mail at lemke@lakeforest.edu. You can also phone my office (x5143), my home (847-457-3219), or my cell (847-224-8928). Gaby Panayotova, the class tutor, will hold office hours in Young Hall 320 from 12 to 1 on Tuesdays and from 4 to 5 on Thursdays.
Text
We will be using Essentials of Statistics for Business and Economics, Fifth Edition, by David R. Anderson, Dennis J. Seeney, and Thomas A. Williams (Thomson South-Western Publishers, 2009/2006, ISBN 978-0-324-56860-8 / 0-324-56860-6). You can purchase the text at the college bookstore or anywhere you like. If you buy a used book, make sure you also receive the data CD. You can share a copy of the book with a friend if you want.
Assignments
You are expected to try all problems by yourself before working with your study group. Your study group should submit a single set of answers, being sure to include everyone's name. Answers must be typed or very neatly written. Sloppy work will not be graded. To receive full credit, answers must be clear, logical, and include enough steps so in December you will remember what you were doing and why. Answers are due at the start of class. Late papers will not be accepted. Your performance on the assignments will determine 25 percent of your final grade.
Excel Projects
Several Excel projects will be assigned during the semester. Group work is not permitted on the Excel projects. Your performance on the Excel projects will determine 10 percent of your final grade.
Exams
There will be three midterm exams plus a cumulative final. The final exam is from 1:30 - 4:30 on Friday, December 11 for Section 1 and from 1:30 - 4:30 on Saturday, December 12 for Section 2. All exams will test your understanding of the material presented in class and your problem solving skills. Bring your ID number to each of the exams so exams can be graded anonymously. Make-up exams will be given only in unforeseeable and extraordinary situations. If you know you will be absent during an exam for a school-related reason, you must see me at least two weeks prior to set up a time to take the exam. Each midterm exam will determine 15 percent of your final grade, while the final exam will determine 20 percent of your final grade. (Alternatively, if it is better for your grade, each midterm will determine 10 percent of your final grade and the final exam will determine 35 percent of your final grade.)
Grading Policy
Your overall percentage for the class will depend on assignments (25%), Excel projects (10%), midterm exams (45% or 30%), and the final exam (20% or 35%). The conversion of your overall percentage into a letter grade will follow the standard 90 - 80 - 70 - 60 scale, with pluses and minuses assigned as usual.
Topics to be Covered
| Chapter 1 Chapter 2 Chapter 3 Chapter 4 Chapter 5 Chapter 6 Chapter 7 Chapter 8 Chapter 9 Chapter 10 Chapter 11 Chapter 12 Chapter 13 | Data and Statistics Descriptive Statistics: Tabular and Graphical Methods Descriptive Statistics: Numerical Methods Introduction to Probability Discrete Probability Distributions Continuous Probability Distributions Sampling and Sampling Distributions Interval Estimation Hypothesis Testing Comparisons Involving Means Comparisons Involving Proportions and a Test of Independence Simple Linear Regression Multiple Regression |