WGB 520 Introduction to Economics and Statistics
Key topics in statistics and economics will be covered. Economic topics include supply, demand, market equilibrium price and quantity, elasticity, economic cost, economies of scale, perfect completion, monopoly,
monopolistic completion, and oligopoly. In addition, macroeconomic terminology of GDP, inflation and unemployment, the basics of the aggregate supply and aggregate demand model, fiscal policy, monetary
policy, and the role of exchange rates will be covered. Statistics topics include an introduction to statistical capabilities of excel, graphical descriptive techniques, numerical descriptive techniques, and simple linear regression analysis.