Course Objectives:
The objectives of this course are –
Course Outcomes (COs):
Course |
Outcome (at course level) |
Learning and teaching strategies |
Assessment Strategies |
|
Paper Code |
Paper Title |
|||
ECO 314 |
Econometrics-I |
CO41: Understand the nature and scope of econometrics. CO42: Gain knowledge of various statistical tools used in econometrics. CO43: Comprehend the estimation and inference of simple and multiple linear regression models and functional forms. |
Approach in teaching: Interactive Lectures and Discussions.
Learning activities for the students: Practice Modules and Assignments. |
Class activity, Assignments and Semester end examinations. |
Nature, scope and methodology of econometrics;
Statistical concepts: Normal distribution; chi-square, t- and F-distributions; estimation of parameters; properties of estimators; testing of hypotheses: defining statistical hypotheses Type I and Type II errors; power of a test.
Nature of regression analysis; assumptions of Classical Linear Regression Model, estimation of model by method of ordinary least squares; properties of least square estimators; Gauss-Markov theorem.
Goodness of fit; tests of hypotheses; scaling and units of measurement; confidence intervals; Chow Test, forecasting.
Log-linear model, semilog models, reciprocal models and logarithmic reciprocal model.
Estimation of parameters; properties of OLS estimators; partial regression coefficients; goodness of fit - R2 and adjusted R 2; testing hypotheses – individual and joint.