Topics: a. Scientific Approach: i. inductive and deductive methods ii. positive and normative reasoning b. Basic Tools i. tables, charts and graphs ii. measures of central tendency: mean, median and mode, and their applications. iii. measures of dispersion; variance, standard deviation, range and their applications; iv. merits and demerits of the tools. Objectives: Candidates should be able to: (i) distinguish between the various forms of reasoning; (ii) apply these forms of reasoning to real life situations; (iii) use the tools to interpret economic data; (iv) analyse economic data using the tools; (v) assess the merits and demerits of the tools.
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