ECON 4130

Statistical Decision Theory

Course Description

Course information provided by the 2022-2023 Catalog.

Statistical Decision Theory provides a normative framework to think about how to best use data to aid decision making under uncertainty. The goal of this course is to provide an undergraduate introduction to Statistical Decision Theory. At the end of the course, the students will be able to define Statistical Models, Statistical Decision Problems, Statistical Decision Rules, Risk Functions, and to describe different optimality criteria for statistical decision making (Bayes risk minimization, the minimax principle, and the minimax regret principle). The course will present different applications to Economics, Econometrics, and Machine Learning.

Distribution Category (MQR-AS, SDS-AS)

When Offered Fall or Spring.

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