Econometric Methods

Give brief about course content / curriculum The econometric methods course may introduce the learners to the basics of building, estimating, assessing econometric models. This course covers the following topics: 1. Meaning, Definition, Scope of Econometrics2. Econometric Methodology3. Assumptions and advantages of Ordinary least square (OLS) method of estimation4. Estimation, Evaluation, Interpretation and reporting of econometric models.5. Implications of, detection of and solutions for OLS assumption violations8. Econometrics models with lag variables9. Econometric models and dummy variables10.Applications of Econometric models. 

COURSE LAYOUTWeek- I 1. Econometrics Meaning and Scope2. Econometric Methodology, and Aims/Goals3. Econometric Methodology, and Aims/Goals Week - II 4. Review of Statistics5. Review of Statistics6. Theoretical Distributions7. Regression Analysis in Econometrics Week - III 8. Types of RegressionStochastic vs Deterministic relationships;Rational for the use of U9. Ordinary least squares (OLS) method Principle and Estimator10.Characteristics of OLS estimators11.Properties of OLS Estimators and Gauss-Markov Theorem Week - IV 12. Estimation of Variance of Stochastic Error terms13. Decomposition of Variations in Y: R2 and ANOVA in Regression Models Week - V 14. Exercise Problems, Interpretation and Reporting of the Simple Linear Regression Model15. Exercise Problems, Interpretation and Reporting of the Simple Linear Regression Model16. Exercise Problems, Interpretation and Reporting of the Simple Linear Regression Model17. Basics of Multiple Linear Regression Model Week - VI18. Exercise Problems, Interpretation and Reporting of the Multiple Linear Regression Model19. Exercise Problems, Interpretation and Reporting of the Multiple Linear Regression Model20. Exercise Problems, Interpretation and Reporting of the Multiple Linear Regression Model Week - VII 21. Problems of heterosedasticity - consequences, tests and remedies.21. Problems of heterosedasticity - consequences, tests and remedies.23. Problems of Auto correlation (first order) - consequences, tests and remedies.24. Problems of Auto correlation (first order) - consequences, tests and remedies. Week - VIII 25. Problems of Multicollinearity — consequences, tests and remedies.26. Problems of Multicollinearity — consequences, tests and remedies.27. Lags in econometric models — Concepts, Types28. Estimation of Lag models: Adhoc Method, Koyck model Week - IX 29. Rationalization of Koyck Model - Partial adjustment and adaptive expectation models30. Rationalization of Koyck Model - Partial adjustment and adaptive expectation models31. Dummy Variables in econometric models — Concepts: Coding Dummy variables, Dummy Variable Trap Week - X 32. Use of Dummy Variables as Independent Variables : ANOVA & ANCOVA Models & Interpretation33. Use of Dummy Variables as Independent Variables : ANOVA & ANCOVA Models & Interpretation34. Use of Dummy Variables as Independent Variables : ANOVA & ANCOVA Models & Interpretation Week - XI 35. Uses of dummy as dependent Variables: Logit Model and Interpretation36.Estimation of demand37.Estimation of production function38.Estimation of production function Week - XII 39. Course Review and Discussions40. Course Review and Discussions