Recommended books for learning Statistics for Business Studies/ MBA/ Economics

I do a lot of teaching in various forms, and I am constantly recommending resources to students. Here is a collection of some of the most frequently useful resources.

Business Statistics/ MBA/ Statistics for Economics

There are many first courses in Business statistics at Undergraduate level that spend a lot of time talking about samples for market research, inference from samples, hypothesis testing, using the normal distribution, t distribution, chi-squared distribution. Many students haven’t done A-level statistics, and find this difficult. I find these books useful:



0.¬†For an introduction to the mathematics of what is needed, this book is very detailed; it even explains, for example, that 5t means “5 multiplied by t”, so doesn’t assume knowledge that university students might have not covered, or not remembered from school. For those struggling with mathematics rather than statistics, this is an ideal book.



1. The Schaums Outlines Series is very good indeed. It provides a very quick overview of the problem, and then lots of worked examples, and then exercises with solutions. The only way to succeed at Mathematics and Statistics is to practice, and this book gives lots of opportunity to practice. I’ve included a link to a latest edition on amazon, but these books can be picked up on the internet for just a few pounds.

There are two different versions, one aimed for a straight statistics course, and the second aimed particularly at business students. They both share the same kind of material, and depends on how applied your course is. There are other inexpensive books in the series.


2. Much of the stuff introduced on Business/MBA courses, is actually A Level (High School) statistics in disguise! In the UK, many bright students don’t study statistics even at A Level, which is a shame, so often students come across is as part of a Business/Economics course at undergraduate or even Masters level for the first time. There are a lot of free resources online which are good, but as a textbook I recommend¬†A Concise Course in Advanced Level Statistics with worked examples. There are various older editions of this book with fewer examples, but as statistics taught at school hasn’t changed in 30 years, you can probably safely pick up an old edition for a few pounds.



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