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Information Session on Second Major in Applied Statistics (APS)

Information Session on Second Major in Applied Statistics (APS). Prepared by Kwong Koon Shing. What does a statistician do?. collect data analyze data draw practical conclusion from data Examples of a career in statistics actuary biostatistician quality control statistician

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Information Session on Second Major in Applied Statistics (APS)

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  1. Information Session on Second Major in Applied Statistics (APS) Prepared by Kwong Koon Shing School of Economics

  2. What does a statistician do? • collect data • analyze data • draw practical conclusion from data Examples of a career in statistics • actuary • biostatistician • quality control statistician • government statistician • market research statistician • risk analyst • university professor School of Economics

  3. Examples of statistics applied on real-life problems • Establish the model to predict the impact of H1N1 outbreaks in Singapore (stochastic modeling) • Determine the Singapore Consumer Price Index (sampling) • Estimate the Singapore aging population (estimation) • Statistics used in courtroom (hypothesis testing) • Reduce junk mail using data mining techniques (decision analysis & hypothesis testing) • Determine the randomness in the Singapore stock market (time series & regression) • Set up an experiment for testing the safety of a new toy (experimental design) • Apply in business process improvement by using six sigma technique (statistical quality control) • Assess the credit risk of debtor (risk analysis) • Discourage gambling (probability theory) School of Economics

  4. What skills are need • Quantitative: statistics and mathematics • Problem solving technique: analysis, organizing and managing projects • Communication: verbal, written, and teamwork • Computing: use of statistical software and programming • Knowledge of other discipline: for practical applications School of Economics

  5. Important changes in the statistics major • Practice Associate Professor Kwong Koon Shing was appointed as the chairman of Statistics Committee in the School of Economics on 22 July 2009 • Second major in Business Statistics is changed to second major in Applied Statistics (APS) • The curriculum of the major has been revamped School of Economics

  6. Second major in Applied Statistics (APS) Objectives of APS • to equip students with quantitative skills with a firm foundation in statistical theory • to enhance the understanding of how statistics is applied in real life issues School of Economics

  7. Number of compulsory courses reduced to 2 • Introductory Statistics (STAT101) or Introduction to Statistical Theory (STAT151) • Probability Theory and Applications (STAT201) (no minimum grade requirement of STAT101 for taking STAT201) School of Economics

  8. Classify the elective courses into two categories • Take any three courses in the Methodology Category: • Survey Methods (STAT204) • Computational Statistics (STAT205) • Applied Stochastic Models (STAT306) • Applied Regression Methods (STAT312) • Intermediate Mathematics for Economics (ECON205) • Economic Forecasting (ECON233) • Other approved courses • Take any three courses in the Application Category: • Applied Econometrics (ECON107) • Intermediate Econometrics (ECON207) • Financial Econometrics (ECON221) • Life Contingent Risks (STAT310) • Risk Theory and Loss Models (STAT311) • Quantitative Risk Analysis (STAT313) • Investment and Financial Data Analysis (QF302) • Marketing Research (MKTG103) • Other approved courses • Courses removed from the old curriculum: • Advanced Mathematical Methods (ECON305) • Management Science (OPIM101) • Financial Mathematics (STAT203) • Financial Data Analysis (Replaced by ECON233) School of Economics

  9. How the new curriculum affects you • Students who have declared APS major before the changes of curriculum should follow the old curriculum. However, the proposed new list of electives will still applicable to them • Students who declare APS major after the launch of new curriculum should follow the new curriculum School of Economics

  10. Time frame to phase in the new courses Term 1, 2009/2010 • Applied Regression Methods (STAT312) • Economic Forecasting (ECON233) Term 2, 2009/2010 (subject to change and depend on demand) • Applied Stochastic Models (STAT306) 2010/2011 (subject to change and depend on the demand) • Economic Forecasting (ECON233) • Quantitative Risk Analysis (STAT313) • Applied Regression Methods (STAT312) or/and Computational Statistics (STAT205) or/and Survey Methods (STAT204) School of Economics

  11. New APS website and flyers • Updated information of curriculum is now available in the new APS major website • New statistics major flyers are distributed on campus to promote and introduce the new curriculum School of Economics

  12. The End Thanks School of Economics

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