This is an advanced level course which emphasizes the laws of probability needed for making proper inference from data. During this semester, we will focus on the parts of probability theory that are essential to understanding statistics, i.e., the distribution theory of random variables–both exact and large sample theory. In addition, this course is also the starting place for you to learn more about statistical inferences as well as some methodologies of simulation, such as the method of Monte Carlo, and bootstrapping. These theories and methods are heavily used in economics, finance, and management science. It is critical that students (you) work the problems. Most (all?) problems can be worked using several methods which can help you discover how many ways you can work each exercise! I will assign a selection of problems each week; try as many as you can. If time permits, I will identify some additional problems that you may want to work to prepare for entrance examinations into some master programs.