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BIRLA INSTITUTE OF TECHNOLOGY AND SCIENCE, Pilani

K.K. BIRLA Goa Campus


INSTRUCTION DIVISION
SECOND SEMESTER 2016-2017
Course Handout (Part II)

13/01/2017
In addition to part-I (General Handout for all courses appended to the timetable) this portion gives further
specific details regarding the course

Course No. : ECON F241


Course Title : ECONOMETRIC METHODS
Instructor-in-Charge : Dr. A.K. MISHRA (aswini@goa.bits-pilani.ac.in)

1. Course Description:
Specification of models; estimation of single equation economic models and related problems;
autocorrelation; heteroscedasticity; multicollinearity; interpretation; forecasting and verification;
estimation methods and problems in simultaneous equation systems.

2. Scope and objective of the course:


The purpose of this course is to introduce students to the theory and application of econometric
methods. It covers the basic tools of estimation and inference in the context of the single-equation
linear regression model, and deals primarily with least squares methods of estimation. The course
emphasizes the intuitive understanding and practical application of these basic tools of regression
analysis, as distinct from their formal theoretical development. Course material is presented
predominantly in scalar terms; the use of matrix algebra is confined to summarizing major results and
to interpreting output listings of computer software programs. The course also emphasizes to enable
the students to understand the econometric problems involved in estimating single equation systems
and to appreciate the problems of estimating simultaneous equation systems.

3. Text Book (TB):


T1) D.N. Gujarati, Porter and Gunasekar “Basic Econometrics”, Fifth Edition, 2012, Tata McGraw-
Hill Education Private Limited, New Delhi.

Reference Books:

R1) Christopher Dougherty, Introduction to Econometrics. Oxford, Fourth Edition, 2011.

R2) H. Baltagi Badi, Econometrics. Springer, Fifth Edition, 2011.

4. Course Plan:

Lecture Reference to
Learning Objectives Topics to be Covered
No. Text Book

1 The Nature and Scope of Introduction to Econometrics T1- Introduction


Econometrics
R1- Introduction

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BIRLA INSTITUTE OF TECHNOLOGY AND SCIENCE, Pilani
K.K. BIRLA Goa Campus
INSTRUCTION DIVISION
SECOND SEMESTER 2016-2017
Course Handout (Part II)

2-5 Review of Statistics: Random Review of Mathematical T1-Appendix A


Variables, Sampling, and Statistics
Estimation testing of R1-Review: Random
hypotheses, confidence Variables, Sampling,
intervals, classical methods and Estimation
of statistical inference

6-10 The Simple Linear Simple regression analysis T1-Ch.1,2,3 &5


Regression Model,
R1-Ch.1 &2
The Ordinary Least Squares
Method Properties of
regression coefficients and
hypothesis testing

11-14 Two Variable Nonlinear Multiple regression analysis T1- Ch.6,7&8


Relationships & The General & Transformation of variables
Linear Model R1-Ch.3 & 4

15-18 Violations of classical Multicollinearity; Specification T1- Ch.9,10&13


assumptions Error; Dummy Variables;
R1-Ch.3,5 6&8

19-22 Heteroscedasticity; Tests for and Estimation under T1- Ch.11&12


Heteroscadasticity
R1-Ch.7 & 12
-Nature of Autocorrelation
Autocorrelation
-Conventional Tests for
Autocorrelation

23-29 Simultaneous Equation (A) SPECIFICATION T1- Ch.18,19


Systems: To evaluate
principal results of structural -Simultaneous Structural &20
econometrics methodology in Equation Models
R1-Ch.9
the multi-equations -The Identification Conditions
framework
(B) METHODS -Indirect
Least Squares (ILS)

-Two-stage Least-squares (2SLS)


Estimators

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BIRLA INSTITUTE OF TECHNOLOGY AND SCIENCE, Pilani
K.K. BIRLA Goa Campus
INSTRUCTION DIVISION
SECOND SEMESTER 2016-2017
Course Handout (Part II)

30-32 Qualitative Response Models Binary choice models and T1- Ch.15
maximum likelihood Estimation
R1-Ch.10

33-40 Models using time series data Auto Regressive Distributed T1- Ch.17
Lagged Variables
R1-Ch.11
Univariate Time Series Modeling
T1- Ch.21&22

R1-Ch.13

5. Evaluation Scheme:

Sl. Evaluation Duration Weightage Date, Time & Venue Remarks

No. Component (%)

1 Test I 60 Min. 20 23.02.17, Thursday (2.00-3.00 Closed Book


PM)

2 Test II 60 Min. 20 30.03.17, Thursday (2.00-3.00 Closed Book


PM)

3 Mini 20 To be announced
Test/Assignme
nt

4 Comp. Exam 3 Hours 40 05.05.17(AN) Closed Book

6. Chamber Consultation hours: Saturday 12.00-1.00 PM

7. Notices: Notices would be displayed on DEPARTMENT OF ECONOMICS Notice Board


8. Make-up: Make-up may be given only on genuine grounds. Prior permission has to be obtained.

9. Other Course Policy Issues:

 Course Class Coverage and details of specific topics from the chapter will be announced in the class
from time to time.
 Assignment/Problem Sheets and Reading Assignments will be assigned periodically. They must be
worked out to understand the subject. For Reading Assignments, students are expected to consult the
books as advised in the classroom.
 The Course Empirical Project is a group project in which students form a small team and work on a
practical empirical topic using modern econometric techniques. Further information and material on the

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BIRLA INSTITUTE OF TECHNOLOGY AND SCIENCE, Pilani
K.K. BIRLA Goa Campus
INSTRUCTION DIVISION
SECOND SEMESTER 2016-2017
Course Handout (Part II)

empirical project will be made available as the course proceeds. You will be expected to collect and
analyze a data set using the econometric methods.
 No makeup examination will be given for class tests and quizzes.
 Students are expected to attend class and to arrive on time and prepared. You should read the
sections in the textbook we are going to cover in class prior to following the lecture.
 If there are problems of any nature that concern the class of which I am unaware of and which need to
be addressed, please feel free to discuss this with me at any time. The main objective is to foster an
environment where people who are interested in the subject matter have the opportunity to discuss
their questions in a positive learning environment.

The instructor reserves the right to make adjustments to this syllabus. Any change will be notified
at least one week in advance. But it is your responsibility to stay informed if you do not attend all
the classes.

Instructor-in-Charge
ECON F241

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