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Accounting and Auditing Program
ECON 280 | Course Introduction and Application Information
| Course Name |
Statistics for Business & Economics
|
|
Code
|
Semester
|
Theory
(hour/week) |
Application/Lab
(hour/week) |
Local Credits
|
ECTS
|
|
ECON 280
|
Fall
|
2
|
2
|
3
|
6
|
| Prerequisites |
None
|
|||||
| Course Language |
English
|
|||||
| Course Type |
Required
|
|||||
| Course Level |
First Cycle
|
|||||
| Mode of Delivery | - | |||||
| Teaching Methods and Techniques of the Course | Problem SolvingApplication: Experiment / Laboratory / WorkshopLecture / Presentation | |||||
| National Occupation Classification | - | |||||
| Course Coordinator | ||||||
| Course Lecturer(s) | ||||||
| Assistant(s) | ||||||
| Course Objectives | This course aims to provide students in business and economics fields with a solid foundation in probability and statistics, teaching them the necessary statistical methods and tools for data analysis and interpretation, and enabling their effective application in real-world business and economic contexts. Thus, students will be able to understand probability and statistics theoretically and also use them in practice to solve business and economic problems. |
| Learning Outcomes |
The students who succeeded in this course;
|
| Course Description | This course, designed for business faculty students, dives into probability essentials, covering discrete and continuous distributions and sampling distribution creation. It sharpens skills in estimating confidence intervals and in conducting hypothesis testing for single and dual population scenarios. Bridging theory with practical business and economic applications, the course prepares students to apply statistical tools in decision-making and strategic analysis, readying them to face real-world business challenges confidently. |
| Related Sustainable Development Goals |
|
|
|
Core Courses | |
| Major Area Courses | ||
| Supportive Courses | ||
| Media and Management Skills Courses | ||
| Transferable Skill Courses |
WEEKLY SUBJECTS AND RELATED PREPARATION STUDIES
| Week | Subjects | Related Preparation |
| 1 | Introduction to Data: Intro, Case Study; Data Basics, Sampling Principles and Strategies Experiments | Newbold, Carlson & Thorne Chapter 1 Cetinkaya-Rundel, M., Diez, D., & Barr, C. (2019). OpenIntro Statistics. Chapter 1 |
| 2 | Summarizing data: Examining numerical data and categorical data | Newbold, Carlson & Thorne Chapter 2 OpenIntro Statistics. Chapter 2 |
| 3 | Probability: Defining Probability | Newbold, Carlson & Thorne Chapter 3.1-3.2 OpenIntro Statistics. Chapter 3.1 |
| 4 | Probability: Conditional Probability, Bivariate Probabilities and The Bayes Theorem | Newbold, Carlson & Thorne Chapter 3.3-3.5 OpenIntro Statistics. Chapter 3.2 |
| 5 | Probability: Sampling, Random Variables, Discrete Distributions, Continuous Distributions | Newbold, Carlson & Thorne Chapters 4.1-4.3, 5.1-5.2 OpenIntro Statistics. Chapter 3.3 & 3.4 & 3.5 |
| 6 | Distributions of Random Variables: Continuous Distributions, Uniform Distribution, Normal Distribution | Newbold, Carlson & Thorne Chapters 5.1- 5.3 OpenIntro Statistics. Chapters 4.1 |
| 7 | Distributions of Random Variables: Normal Dist. Cont’d., Discrete Distributions: Binomial Distribution | Newbold, Carlson & Thorne Chapters 4.4, 4.6, 5.4 OpenIntro Statistics. Chapters 4.1, 4.3 |
| 8 | Distributions of discrete RVs: Poisson distribution and review before exam | Newbold, Carlson & Thorne Chapter 4.5 OpenIntro Statistics. Chapter 5.1 |
| 9 | Midterm Exam | Midterm Exam |
| 10 | Foundations for Inference: Point Estimates and Sampling Variability | Newbold, Carlson & Thorne Chapter 6 OpenIntro Statistics. Chapter 5.2 |
| 11 | Foundations for Inference: Confidence Intervals for a Proportion and for a Population Mean | Newbold, Carlson & Thorne Chapters 7.2, 7.4, 7.7-7.8 OpenIntro Statistics. Chapter 5.3 |
| 12 | Foundations for Inference: Hypothesis Testing: Single Population Proportion, Single Population Mean with known Variance, Decision Errors, P-value, Statistical Significance | Newbold, Carlson & Thorne Chapters 9.1, 9.2, 9.4 OpenIntro Statistics. Chapter 6.1 & 6.2 |
| 13 | Hypothesis Testing and Inference: The Chi-square Distribution, Tests of Variance, Testing for goodness of fit using chi-square; Chi-Square test of Independence | Newbold, Carlson & Thorne Chapter 9.6 OpenIntro Statistics. Chapter 6.3 & 6.4 |
| 14 | Hypothesis Testing and Inference: The Student’s t-Distribution, Single Population Mean with unknown variance | Newbold, Carlson & Thorne Chapter 9.3 OpenIntro Statistics. Chapter 7.1.1-7.1.3 |
| 15 | Hypothesis Testing, CI and Inference: Difference between two population means with known or unknown variance, Difference between two proportions | Newbold, Carlson & Thorne Chapters 10.3, 8.1, 8.3 OpenIntro Statistics. Chapter 7.1.4, 7.1.5 & 7.2 |
| 16 | Final Exam | Final Exam |
| Course Notes/Textbooks | Cetinkaya-Rundel, M., Diez, D., & Barr, C. (2019). OpenIntro Statistics. (Fourth Edition ed.) OpenIntro, Inc. https://www.openintro.org/book/os/ Newbold P., Carlson W.L., Thorne B., Statistics for Business and Economics, 10th edition (Pearson |
| Suggested Readings/Materials | Lind D., Marchal S., Statistical Techniques in Business & Economics, 17th edition (McGraw-Hill, 2017), ISBN-13: 978-1259666360 |
EVALUATION SYSTEM
| Semester Activities | Number | Weigthing |
| Participation |
1
|
5
|
| Laboratory / Application |
1
|
10
|
| Field Work | ||
| Quizzes / Studio Critiques |
1
|
20
|
| Portfolio | ||
| Homework / Assignments | ||
| Presentation / Jury | ||
| Project |
1
|
15
|
| Seminar / Workshop | ||
| Oral Exams | ||
| Midterm |
1
|
25
|
| Final Exam |
1
|
25
|
| Total |
| Weighting of Semester Activities on the Final Grade |
5
|
70
|
| Weighting of End-of-Semester Activities on the Final Grade |
1
|
30
|
| Total |
ECTS / WORKLOAD TABLE
| Semester Activities | Number | Duration (Hours) | Workload |
|---|---|---|---|
| Theoretical Course Hours (Including exam week: 16 x total hours) |
16
|
2
|
32
|
| Laboratory / Application Hours (Including exam week: '.16.' x total hours) |
16
|
2
|
32
|
| Study Hours Out of Class |
16
|
1.5
|
24
|
| Field Work |
0
|
||
| Quizzes / Studio Critiques |
1
|
12
|
12
|
| Portfolio |
0
|
||
| Homework / Assignments |
0
|
||
| Presentation / Jury |
0
|
||
| Project |
1
|
24
|
24
|
| Seminar / Workshop |
0
|
||
| Oral Exam |
0
|
||
| Midterms |
1
|
24
|
24
|
| Final Exam |
1
|
32
|
32
|
| Total |
180
|
COURSE LEARNING OUTCOMES AND PROGRAM QUALIFICATIONS RELATIONSHIP
|
#
|
Program Competencies/Outcomes |
* Contribution Level
|
|||||
|
1
|
2
|
3
|
4
|
5
|
|||
| 1 |
To be able to acquire theoretical and practical knowledge and skills in the area. |
-
|
-
|
-
|
-
|
-
|
|
| 2 |
To be able to approach problems with an analytical and holistic viewpoint. |
-
|
-
|
-
|
-
|
-
|
|
| 3 |
To be able to gain knowledge about both national and international accounting and auditing standards. |
-
|
-
|
-
|
-
|
-
|
|
| 4 |
To be able to communicate the findings and solutions to the accounting and auditing problems in written and oral formats. |
-
|
-
|
-
|
-
|
-
|
|
| 5 |
To be able to critically evaluate the performance of accounting and other related management information systems, and organizations. |
-
|
-
|
-
|
-
|
-
|
|
| 6 |
To be able to develop innovative and creative approach to real-life business issues. |
-
|
-
|
-
|
-
|
-
|
|
| 7 |
To be able to integrate knowledge gained in the main areas of accounting and auditing through a strategic perspective. |
-
|
-
|
-
|
-
|
-
|
|
| 8 |
To be able to act in accordance with the scientific and ethical values in studies related to accounting and auditing. |
-
|
-
|
-
|
-
|
-
|
|
| 9 |
To be able to demonstrate both leadership and team-work skills through being an efficient and effective team member. |
-
|
-
|
-
|
-
|
-
|
|
| 10 |
To be able to have an ethical perspective and social responsiveness when evaluating and making business decisions. |
-
|
-
|
-
|
-
|
-
|
|
| 11 |
To be able to collect data in the area of business administration and communicate with colleagues in a foreign language ("European Language Portfolio Global Scale", Level B1). |
-
|
-
|
-
|
-
|
-
|
|
| 12 |
To be able to speak a second foreign at a medium level of fluency efficiently. |
-
|
-
|
-
|
-
|
-
|
|
| 13 |
To be able to relate the knowledge accumulated throughout the human history to their field of expertise. |
-
|
-
|
-
|
-
|
-
|
|
*1 Lowest, 2 Low, 3 Average, 4 High, 5 Highest
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