DESCRIPTION OF COURSES
WST 603 ECONOMIC ANALYSIS OF WATER USE (3L+0P) II
To make the students aware of the econometric research in the field of water utilization and developing various econometric models and their validation.
Econometric models. Introduction and stages in econometric research, properties of an econometric model.
Basic two variable regression, the Ordinary Least Square Method, assumptions, estimation and interpretation – extension to multivariable models, multiple regression estimation and interpretation.
Violation of assumptions – identification, consequences and remedies for multicollinearity, heteroscedasticity, autocor relation – data problems and remedial approaches – model misspecification.
Linear Programming. Introduction, graphic solution to problems, formulation of problems. Simplex method – solving profit maximization and cost minimization problems, variable resource and price programming.