DESCRIPTION OF COURSES

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WST 603 ECONOMIC ANALYSIS OF WATER USE                                                                               (3L+0P) II

Objective
To make the students aware of the econometric research in the field of water utilization and developing various econometric models and their validation.

Theory

UNIT I
Econometric models. Introduction and stages in econometric research, properties of an econometric model.

UNIT II
Basic two variable regression, the Ordinary Least Square Method, assumptions, estimation and interpretation – extension to multivariable models, multiple regression estimation and interpretation.

UNIT III
Violation of  assumptions – identification, consequences and remedies for multicollinearity, heteroscedasticity, autocor relation – data problems and remedial approaches – model misspecification.

UNIT IV
Linear Programming. Introduction, graphic solution to problems, formulation of problems. Simplex method – solving profit maximization and cost minimization problems, variable resource and price programming.

Suggested Readings