BUS5030

Applied Economics and Statistics

As the vast amount of data available to organizations increases there is growing need to be able to analyze and evaluate patterns of behavior, trends, and strategic options. In increasingly complex business markets, the effective evaluation of economic performance makes the difference in maintaining or increasing the overall competitive position of the firm.

Applied Economics and Statistics extends statistical and economic principles from the undergraduate level to the graduate level. This course helps learners build a solid background in quantitative, analytical and problem-solving skills.

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Course level

Course level

Graduate

Course duration

Course duration

max. 8 weeks

Estimated time per week

Estimated time per week

10-15 hours

Course prerequisites

Course prerequisites

None

Cost

Cost

$ -

Course credits

Course credits

3

Relevant jobs

Relevant jobs

Accountants, Economists, Financial advisors

What will I learn?

Examine the fundamental concepts and methods of data driven decision making

Apply statistical and data analyses best practices as part of the overall data-driven decision making process

Apply evaluative economic models to respond to external market events

Compare and contrast the needs of data collection, data analysis, and data interpretation

Apply the concepts of market behavior, principles of demand behaviors, and market reactions to economic forces

Develop a solid economic strategy for an organization integrating data-driven decision making principles and practices

Key Skills

Data analysisEconomic modellingEconomic strategy

How will I learn?

Learning Experience

Your course starts on the first of the month. Each course consists of six modules, each module will take you one week to complete and each course is designed to take you eight weeks to complete. Nexford’s learning design team has purposefully created courses to equip you with competencies mapped to the skills employers are looking for. Each course has 5-7 learning outcomes based on the skills employers need. Everything you learn gives you measurable skills you will use to succeed in today’s world of work.

Nexford courses are not live or recorded lectures. Instead, they’re reading, videos, interactive elements, quizzes and relevant case studies. Programs include assessments, peer-to-peer discussions, and a final project to practice what you’ve learned in a real-world context. Program content is available 24/7 during the course, and you have opportunities for collaboration and networking with learners during and after your program. Our global community of learners work at top companies such as Microsoft, Deloitte, and Google.

You'll have 24/7 access to success advisors to support you. Faculty also provide you world-class support. Book appointments with them, get individual feedback, and attend regular optional webinars. Nexford courses are rigorous and they encourage critical thinking - because we care about what you know how to do not what you know you have regular hands-on assessments reflecting the business world.

Course Outline
ModulesAssignment Due Date
1: Fundamental concepts of data driven decision makingDay 10
2: Estimation and applications: comparing and contrasting the interpretation of dataDay 17
3: Hypothesis testing and applications: application of statistics in data-driven decision making processesDay 24
4: Simple linear regression: fundamentals of statistical applications on economic eventsDay 31
5: Multiple regression and Issues in regression analysis: application of economic modelsDay 38
6: Time series analysis: economic behavior over time and its analysisDay 45 (optional)
7: Final projectDay 51
How will I be graded?

Across the duration of the course, you will undertake five Formative Assessments and one Final Project.

The summative assessment is your final project and achieving a passing grade on this assessment is required to pass the course. The minimum passing grade at Nexford University is a C or above. (70% or above).

Grading Scale
Grading Weights
A 90%-100%Module Assignments30%
B 80%-89%
C70-79%Final Project Milestones30%
F70%
IIncompleteFinal Project40%
WWithdrawnTotal100%
What will I get after completing the course?

You'll get real skills you can use at work, straight away. At the end of each course, you'll also get a digital badge that you can put on your LinkedIn profile to showcase your skills.

Once you've taken one course, you can take more. Using stacked credentials, you’re able to take enough courses to make a certificate, and take enough certificates to build a degree.

If you apply for a Nexford certificate or degree, you'll get credit for each course you take.

What support will I receive?

When you have a dedicated team on your side, you'll never be alone studying at Nexford. Hailing from many different countries and with online education expertise, our faculty provides you world-class support. Ask them questions during one-to-one office hours or live chat , email them any time, and get individual feedback on your assessments.

Whilst you’re learning, you’ll also have full access to the free Nexford online library, which includes access to millions of full-text articles, industry reports and key sources such as the Wall Street Journal, the Financial Times and The Economist.

LinkedIn Learning: unlimited access with Nexford

Support your Nexford goals with access to LinkedIn Learning during your program, at no additional cost. Explore the learning hub of the globe’s biggest professional networking platform to:

  • Power your career: choose from over 16,000 expert-led courses, from remote working to data science
  • Show off your skills: earn a certificate when you complete a course
  • See what’s trending: LinkedIn Learning adds 25 new courses each week
  • Tailor your learning: choose relevant courses based on your experience, LinkedIn profile and goals
  • Test what you’ve learned: use LinkedIn Learning assessments

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My weekly reflective journal is my Nexford highlight. Thanks to faculty support, I continually apply principles to my enterprise – and I've been able to scale beyond considerable measure.

Siramene Teeh NgborCountry flag
Current BBA learner