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Many students including me find it difficult to complement the different courses that we learn but a time there are courses that are interlinked such that the basics of another will greatly assist in the understanding of the other topic. For instance, statistics and economics are so much intertwined.
Statistics involves collection, organization and interpretation of data. The knowledge and skills in the various methods of data collection such as sampling are useful in the study of economics. This is because the subject matter of economics involves collection of data to facilitate in the analysis and formulation of policies. The knowledge will help economist on how or the factors to consider while choosing a sample size and the different areas where each method is applicable.
Furthermore, the knowledge about how to compute standard deviations, variances, T-test, Z-tests are also useful in the interpretation process of the data collected and analyzed. Various policy recommendations are reached at based on the value of the different variables. These values are normally reached at through computation or by carrying out the various tests.
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Economics as subject or course deals is wide in terms of scope. For instance, in economics we study population which deals with population size, density and distribution. All these are based on the census statistics and the records of hospitals and immigration departments. The collection of all these information is done using the statistical approaches and its computation of skewness done statistically.
For these reasons, the two subjects can be put together to represent one body of knowledge. They have a lot in common ranging from the application of formulas plus the subject matter jointly in the two subjects. For instance the subject matter of statistics is useful in the study of population and policy making whereas economics also entails population and public policy.
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