Unit I : Introduction to Econometrics methods and models – Definition and scope – Nature of Econometric Approach – Methodology of Econometric research – Specification of the models – Estimation of the Parameters of the Model – Evaluation of the Estimates – Evaluation of the Forecasting Ability of the Model – Desirable properties of an Econometric Model.
Types of Models: Single Equation models with one and two explanatory variables. Properties of OLS estimators. Co-efficient of determination of goodness of fit – Tests of significance of Alpha & Beta – Analysis of Variance and regression analysis
Unit II : Problems associated with the models – autocorrelation, Multicollinearity and heteroscedasticity. Simultaneous equations models – Types of models, identification, method to solve them ILS and 2SLS.
Simple Correlation and regression (In the form of revision) – Partial correlation – Estimation of Partial Regression Co-efficient and Co-efficient of Partial correlation.
Unit III : Input-Output Analysis
The Inter-industry Accounting System – The Input Output table – Balance equations – Input Output co-efficient – The Hawkins Simon conditions – Prices in Leontief Input Output System. Assumptions of Input Output analysis – Validity of Input Output assumptions.
Closed Model – Comparison with Leontief’s open static system
Unit IV : Game Theory
Introduction – Basic concepts in Game Theory – Solutions to Two – Person Zero – Sum Game – Games with saddle point (Pure Strategies) – Games without saddle point (Mixed Strategies) – Graphical Solution (2x2game, 2xm, mx2 game)
Recommended books :
1. Econometric Analysis, William Greene, Pearson Education (ISBN 978-81-7758-684-8).
2. Basic Econometric , Damodar N. Gujarati, McGraw – Hill Book Co.
3. Econometric Methods (Fourth Edition), Jack Johnston & John Dinardo, McGraw – Hill Book International Edition.
4. Econometric Models & Methods , Carl. F. Christ, Wiley Eastern Pvt. Ltd.
5. Applied Econometrics, Meghnad Desai, TMH Edition
6. Operations Research (An Introduction), Hamdy A. Taha, Prentice Hall, India.
7. Introduction to Econometrics, G.S. Maddala, Wiley
8. Statistics & Econometrics, Charles. R. Frank (JR), Holt, Rinehart & Winston
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