Probability and Statistics have been widely used in various fields of science, including economics. Like advanced calculus and linear algebra, probability and statistics are indispensable mathematical tools in economics. Statistical inference in economics, namely econometric analysis, plays a crucial methodological role in modern economics, particularly in empirical studies in economics.
This textbook covers probability theory and statistical theory in a coherent framework that will be useful in graduate studies in economics, statistics and related fields. As a most important feature, this textbook emphasizes intuition, explanations and applications of probability and statistics from an economic perspective.
o Provides comprehensive coverage of probability and statistics that will be useful as indispensable mathematical tools in economics
o Various numerical examples are provided to illustrate the concepts, theory and methods in probability and statistics introduced in the book
o As a most important feature that distinguishes it from other probability and statistics textbooks, this book emphasizes explanations and applications of probability and statistics from an economic perspective