**DESCRIPTION OF COURSES**

**AS 568 ECONOMETRICS (2L+1P)**

**Objective**

This course is meant for training the students in econometric methods and their applications in agriculture. This course would enable the students in understanding the economic phenomena through statistical tools and economics principles.

**Theory**

UNIT I

Study of single equation linear regression models: Maximum likelihood and ordinary least-squares methods of estimation, Statistical inference in linear regression, Estimation subject to linear restrictions.

UNIT II

Use of dummy variables, Multicollinearity. Generalized least squares method of estimation, Seemingly Unrelated Regression Equations, Heteroscedasticity, Auto-correlation, Distributed lag models.

UNIT III

Elements of time-series analysis-measurement of secular trend, seasonal fluctuations, cyclical fluctuations, periodogram analysis, harmonic analysis, serial correlation and correlogram. Index numbers – their characteristics and construction. Index numbers of wholesale and consumer prices.

**Practicals**

Fitting of single equation linear regression models: maximum likelihood, ordinary least-squares and generalized least squares methods of estimation. Detection and handling of heteroscedasticity, auto-correlation. Fitting of distributed lag models. Exercises on studying secular trend, seasonal fluctuations, cyclical fluctuations, periodogram analysis, harmonic analysis, serial correlation and correlogram. Development of Index numbers of wholesale and consumer prices.

**Suggested Readings**

- Alan P. 1983.
*Forecasting with Univariate Box-Jenking Models*. Wiley. - Brockwell, P.J. 1996.
*Introduction to Time Series Analysis and Forecasting*. - Springer. Goldberger, A.S. 1964.
*Econometric Theory.*John Wiley. - Johnston, J. 1984.
*Econometric Methods*. McGraw Hill. - Judge, G.C., Hill, R.C. Griffiths, W.E., Lutkepohl, H. and Lee, T.C. 1988.
*Introduction to the Theory and Practice of Econometrics*. John Wiley. - Klein, L.R. 1974.
*A Text Book of Econometrics*. Prentice Hall. - Kmenta, J. 1986.
*Elements of Econometrics*. University of Michigan Press. - Koop, G. 2007.
*Introduction to Econometrics*. John Wiley. - Koutsoyianis, A. 1997.
*Theory of Econometrics*. Barner and Noble. - Maddala, G.S. 2001.
*Introduction to Econometrics*. John Wiley. - Pindyck, R.S. and Rubinfeld, D.L. 1998.
*Econometric Models and Economic Forecasts*. McGraw Hill. - Robert, A.Y. and Monnie M. 2000.
*Introduction to Time Series Analysis and Forecasting*. Academic Press. - Theil, H. 1971.
*Principles of Econometrics*. John Wiley. - Verbeek, M. 2008.
*A Guide to Modern Econometrics*. John Wiley.