Introductory Econometrics
Faculty Offering
Dipankar Das
Assistant Professor, General Management & Public Policy
- dipankar@gim.ac.in
- +91 9903308409, +91 832 2366943
Swarna Parameswaran
Assistant Professor, General Management & Public Policy
- swarna@gim.ac.in
- + 91 9013368272
Programme / Term
BIFS / II (at GIM)
No. of sessions
24 sessions
Course description
The course aims to equip students with knowledge of various econometric methods. The application-oriented course will be helpful in taking appropriate managerial decisions after evaluating various econometric models. The data-driven approach will help students think critically and develop analytical skills in evaluating and taking appropriate managerial decisions.
Programme / Term
- Graduating students will be able to select appropriate regression models
- Graduating students will be able to explain the choice of various regression models
- Graduating students will be able to apply appropriate regression models for solving business problems using appropriate statistical tools
- Graduating students will be able to analyze data from industries using correlation and regression models using appropriate statistical tools
- Graduating students will be able to recommend solutions to management problems based on regression model results and analysis
- Students will be able to solve real world problems in the BIFS sector using latest technology
1. Core Courses
I. Applications of Econometrics in Business
II. Econometric Models-Simple and Multiple Regression, Fitting and interpreting regression models
III. Residual Analysis
IV. Selecting the Best Models- Multicollinearity, Heteroscedasticity, Autocorrelation
V. Dummy Variables
VI. Non-linear regression modelling
Methodology
Lecture, Workshop Based, Discussion, Problem Solving, Project-based, and Demonstration
Group Projects and Journal
Group projects are an integral part of learning. Students are expected to form into groups of 4/5 to work on their projects. The projects would be due a week from the close of the term. Proposals are due by the 6th class. Students are expected to take a project in consultation with the instructor. The proposals must include a statement of the problem they seek to address, breaking down the same in to questions and an indication of how they would address the same. They should pose the questions sharply, and if the working involves data they must indicate the data sources as well.
Students would maintain a journal in which they would record questions that they raised and the learnings, on a session by session basis. The same would be submitted for evaluation.
For whom
- Students seeking a deep understanding of the new opportunities in PPPs and private capital in infrastructure, and willing to work hard would find the course engaging and useful.
- Consultants in government and infrastructure verticals, developers, regulators, and senior (credit) staff of BSFIs seeking to finance infrastructure projects, would find the course very useful saving them many years of learning on the job. Prerequisites for the course would be basics of microeconomics, capital finance, and financial markets.
- Students should have a sound knowledge of basic concepts in financing, microeconomics, and organizational management. This course would not suit the causal attendee.
Evaluation
Title
Percentage
Class Participation
10%
Quiz
20%
Mid-term examination
30%
End-term examination
40%
TOTAL
100%
Section wise outline
Session Seq /Date & Time
Topic
Cases/Readings
1
Introduction to Econometrics, Applications of Econometrics in Business, specifically in BIFS sector
Gujarati
2 and 3
Mathematical and Statistical Prerequisites
Gujarati
4 and 5
The nature of regression
Gujarati
6 to 8
Single equation regression models
Gujarati
9 to11
OLS, Assumptions underlying OLS
Gujarati
12 and 13
Multicollinearity
14 and 15
Heteroscedasticity
16 to 18
GLS estimation
19 and 20
Autocorrelation
21 and 22
Dummy Variables
23 and 24
Non-linear regression models & Qualitative response regression models
Reference Books
- Basic econometrics by Damodar Gujarati, Tata Mc Graw Hill
- Introductory econometrics: A Modern Approach, By Jeffery Wooldridge
Institutions where the course is offered
GIM