SVKM’s Narsee Monjee Institute of Management Studies

Name of School – Kirit P. Mehta School of Law

Program: B.A., LL.B. (Hons.) & B.B.A., LL.B. (Hons.) 8101 & 8102 Semester: IV

Module: Economics IV Module Code:

Teaching Scheme Evaluation Scheme

Lecture Practical Tutorial Term End
Internal Continuous
(Hours (Hours (Hours per Examinations (TEE)
Credit Assessment (ICA)
per per week) (Marks- 50
(Marks - 50)
week) week) in Question Paper)
4 0 0 4 Marks Scaled to 50 Marks Scaled to 50
Pre-requisite: A basic knowledge of microeconomics and elementary mathematics

Objectives:
1. To develop the student’s ability to deal with numerical and quantitative issues in legal and other
multidisciplinary research.
2. To enable the use of Statistical applications in Economics and Law.

Outcomes:
1. Undertake doctrinal and empirical legal research and study case laws using various tools and
techniques for finding solutions and communicate the research in a lucid manner. (PLO2b).
2. Develop strategies, interconnect issues and provide suggestions for effective implementation of
laws with allied subjects. (PLO 3b).

Detailed Syllabus: (per session plan)

Unit Description: Statistical Tools for Economics Duration

1. Introduction of Statistics 3Hrs

Topic Details: Meaning and Definition of Statistics, Scope of Statistics, Importance
of Statistics in Law
Reading Material (Basic to Advance): Chapter 1: Statistics for Management and
Economics, Ninth Edition - Gerald Keller, 11th Edition 2018.
Pedagogy: Discussion and MS EXCEL
2. Classification and Types of data 3 Hrs
Topic Details: What is data, Types of data, primary, secondary, Qualitative,
Quantitative, Discrete, Continuous, Ordinal, Nominal, Categorical.
Methods of data Collection, levels of measurement, Types of Variables

Reading Material (Basic to Advance): Chapter 2-3: Statistics for Management

and Economics, Ninth Edition - Gerald Keller, 11th Edition 2018.
Pedagogy: Discussion and MS EXCEL
 SVKM’s Narsee Monjee Institute of Management Studies
Name of School – Kirit P. Mehta School of Law
3. Data Presentation and Visualization 3 Hrs
Topic Details: Histogram, Frequency Polygon, Frequency Curve, Ogives, Scatter
plots, graphs and shapes of distribution.

Reading Material (Basic to Advance): Chapter 2-3: Statistics for Management

and Economics, Ninth Edition - Gerald Keller, 11th Edition 2018.
Pedagogy: Discussion and MS EXCEL

4. Data Collection and Sampling: 3Hrs

Topics: Direct observation, experimentation, Survey, telephonic and personal
interview, Sampling, Simple random sampling, Stratified Random Sampling, Cluster
Sampling, Sampling error, non-Sampling error.

Reading Material (Basic to Advance to Advance): Chapter 5: Statistics for

Management and Economics, Ninth Edition - Gerald Keller, 11th Edition 2018.
Pedagogy: Discussion and MS EXCEL
5. Measures of Central Tendency and Dispersion 3 Hrs
Topics Details: Mean –Mode -Median - Quartiles- Deciles- Percentiles – Range,
Variance and Standard Deviation, Sample, population, parameter, coefficient of
variation.
Reading Material (Basic to Advance): Chapter 4: Statistics for Management and
Economics, Ninth Edition - Gerald Keller, 11th Edition 2018.

Pedagogy: Discussion and MS EXCEL

6. Probability I 3 Hrs
Topics: Sample Space, Events, Types of Events, probability of an event, intersection
of events, Venn Diagrams, Addition rule, multiplication rule, independence of
events.
Reading Material (Basic to Advance): Chapter 6: Statistics for Management and
Economics, Ninth Edition - Gerald Keller, 11th Edition 2018.
Pedagogy: Discussion and MS EXCEL

7. Probability II 3 Hrs
Topic: Joint probability, Marginal probability, conditional probability, bayes
theorem, decision trees.
Reading Material (Basic to Advance): Chapter 6: Statistics for Management and
Economics, Ninth Edition - Gerald Keller, 11th Edition 2018.
Pedagogy: Discussion and MS EXCEL
8. Random Variable and Probability Distribution I 3 Hrs
Topics: Random Variable, Discrete and Continuous, population mean, sample
mean, population variance, sample variance, Expected values.

Reading Material (Basic to Advance): Chapter 7: Statistics for Management and

Economics, Ninth Edition - Gerald Keller, 11th Edition 2018.
Pedagogy: Discussion and MS EXCEL
 SVKM’s Narsee Monjee Institute of Management Studies
Name of School – Kirit P. Mehta School of Law
9. Random Variable and Probability Distribution II 3 Hrs
Topic: Binomial, Possion, Normal and Exponential Distributions, other Sampling
distributions
Reading Material (Basic to Advance): Chapter 7: Statistics for Management and
Economics, Ninth Edition - Gerald Keller, 11th Edition 2018.
Pedagogy: Discussion and MS EXCEL

10. Inferential Statistics 3 Hrs

Topic: Point and interval Estimates, Confidence Intervals, error in estimation,

sample size.
Reading Material (Basic to Advance): Chapter 10-9: Statistics for Management
and Economics, Ninth Edition - Gerald Keller, 11th Edition 2018.
Pedagogy: Discussion and MS EXCEL
11. Hypothesis Testing 3 Hrs

Topic: Null and Alternate Hypothesis, Type I and Type II error, Significance and
Rejection Regions, p values, One tailed and two tailed test, Z scores and T test.
Reading Material (Basic to Advance): Chapter 11: Statistics for Management and
Economics, Ninth Edition - Gerald Keller, 11th Edition 2018.
Pedagogy: Discussion and MS EXCEL
12. Correlation 3 Hrs
Topic : Karl Pearson’s and Spearman’s correlation
Reading Material (Basic to Advance): Chapter 16: Statistics for Management and
Economics, Ninth Edition - Gerald Keller, 11th Edition 2018.
Pedagogy: Discussion and MS EXCEL
13. Regression I 3 Hrs
Topic: Simple Linear Regression, Intercept, slope, trendline, R square, F values, T
values, Standard error, degree of freedom
Reading Material (Basic to Advance): Chapter 16-17: Statistics for Management
and Economics, Ninth Edition - Gerald Keller, 11th Edition 2018.
Pedagogy: Discussion and MS EXCEL
14. Regression II 3 Hrs
Topic: Multiple, Logistic and Log Linear Equations.
Reading Material (Basic to Advance): Chapter 16-17: Statistics for Management
and Economics, Ninth Edition - Gerald Keller, 11th Edition 2018.
Pedagogy: Discussion and MS EXCEL
15. Time Series 3 Hrs
Topic: Time Series Analysis: Introduction; Meaning of Time Series;
Applications of Time Series
Reading Material (Basic to Advance): Chapter 20: Statistics for Management and
Economics, Ninth Edition - Gerald Keller, 11th Edition 2018.

Pedagogy: Discussion and MS EXCEL

3 Hrs
16. Time Series
Topic: Variations in Time Series; Measurement of trend or secular trend;
 SVKM’s Narsee Monjee Institute of Management Studies
Name of School – Kirit P. Mehta School of Law
Measurement of seasonal variations. 
Reading Material (Basic to Advance): Chapter 20: Statistics for Management and
Economics, Ninth Edition - Gerald Keller, 11th Edition 2018.
Pedagogy: Discussion and MS EXCEL
17 Index Numbers I 3 Hrs
Topics: Index Numbers: Introduction; Meaning of index number; Types of
index number; Uses of Index Numbers; Methods of constructing Index
Numbers; Methods of constructing Index Numbers.

Reading Material (Basic to Advance): Chapter 20: Statistics for Management and
Economics, Ninth Edition - Gerald Keller, 11th Edition 2018.
Pedagogy: Discussion and MS EXCEL
18 Index Numbers II 3 Hrs
Topics: Test For Adequacy of Index Number Formulae; Consumer Price
Index Number- Assumptions of cost of living index number;  Methods of
constructing Consumer Price Index, Limitations of Index Numbers

Reading Material (Basic to Advance): Chapter 20: Statistics for Management and
Economics, Ninth Edition - Gerald Keller, 11th Edition 2018.
Pedagogy: Discussion and MS EXCEL
19 Introduction to R Statistical Computing Software- Workshop 3 Hrs

20 Introduction to R Statistical computing Software- Workshop 3 Hrs

Total 60 Hrs

Text Books:
1. Statistics for Management and Economics, Ninth Edition - Gerald Keller, 11th Edition 2018.
https://www.google.co.in/books/edition/Statistics_for_Management_and_Economics/
eNdUDgAAQBAJ?hl=en&gbpv=0&kptab=overview

2. Statistics for Business & Economics-  David R. Anderson, Dennis J. Sweeney, Thomas A.

Williams, Jeffrey D. Camm, James J. Cochran · 13th edition
2018.https://www.google.co.in/books/edition/Statistics_for_Business_Economics/
6r0aCgAAQBAJ?hl=en&gbpv=0

Reference Books:
1. Statistics for Management- David S. Rubin and Levin, 8th Edition, 2017.
https://www.google.co.in/books/edition/Statistics_for_Management/loa4KcmMmbcC?
hl=en&gbpv=1&dq=Richard+I.+Levin&printsec=frontcover

Internal Continuous Assessment (ICA): Maximum Marks: 50 Marks

Distribution of ICA Marks :

Description of ICA Marks

 SVKM’s Narsee Monjee Institute of Management Studies
Name of School – Kirit P. Mehta School of Law

Research Paper 20 Marks

Seminar 10 Marks
Viva 10 Marks
Class Participation 10 Marks
Total Marks : 50 Marks

Dr. Parinaaz Mehta ____________

Signature Signature
(Prepared by Dr. Parinaaz Mehta) (Approved by Dean)