Index Numbers

Learning Outcomes

Learning Outcomes

Having successfully completed this module you will be able to:

• understand the origins and basic features of axiomatic, economic and stochastic approaches to price index;
• assess the uncertainty associated with price index numbers calculated based on a sample of products;
• apply the common elementary index formulae and the characteristic hedonic index method;
• appreciate the fundamental challenges of price index based on scanner data and web scraping data.

• Axiomatic approach
• Economic approach
• Stochastic approach
• Hedonic methods
• Practical index methodology
• Big-data sources

If full face-to-face teaching has not been resumed, teaching will be delivered by a mixture of synchronous and asynchronous online methods, which may include lectures, videos, question and answer sessions, exercises and workshops. Relevant resources will also be provided for further self-directed study. Face-to-face teaching opportunities will be explored depending on circumstances and feasibility.

Summative

This is how we’ll formally assess what you have learned in this module.

Referral

This is how we’ll assess you if you don’t meet the criteria to pass this module.