Foundations of Index Numbers for Economics and Data Analysis

Understanding how to measure changes in price, quantity, and value over time is a fundamental skill in economics, statistics, and business planning. This course provides a structured introduction to index numbers, helping you make sense of inflation, cost of living, and economic indicators without getting lost in complex jargon. You will transform from a beginner into a confident analyst capable of choosing and calculating the right index for any dataset. What you'll learn: - Understand the core terminology, purposes, and limitations of index numbers - Calculate simple and weighted index numbers using Laspeyres, Paasche, and Fisher formulas - Apply the Consumer Price Index (CPI) and Wholesale Price Index (WPI) to analyze inflation - Solve practical problems using real-world data scenarios and step-by-step arithmetic - Practice shifting bases, splicing, and deflating nominal values to find real economic trends - Evaluate modern data collection challenges and how digital tracking shapes modern index construction We begin with the essential definitions and historical context of index numbers before moving into step-by-step mathematical construction. Through clear written explanations and practical exercises, you will learn how to handle base periods, weights, and formula selection. This text-based course is designed for beginners, students of introductory economics or statistics, and aspiring data analysts, requiring only basic arithmetic to start. Take your first step toward mastering quantitative economic analysis today.