ABSTRACT
At the start of a course in mathematical statistics students usually ask three questions. Two of these questions are typically what is this course going to be about and how is this different from the two or three other statistics courses that most students have already taken before mathematical statistics? The third question is how does the study of mathematical statistics contribute to my study of economics and econometrics? The simplest answer to the first question is that we are going to develop statistical reasoning using mathematical techniques. It is my experience that most students approach statistics as a toolbox, memorizing many of the statistical estimators and tests (see box titled Mathematical Statistics – Savage). This course develops the student’s understanding of the reasons behind these tools. Ultimately, mathematical statistics form the basis of econometric procedures used to analyze economic data and provide a firm basis for understanding decision making under risk and uncertainty.
