BMP:SEM4:PAPER 4/4:SPECIALIZATION ECONOMICS:ECONOMETRICS

 Module 1:

Inference – Problems in non-experimental science – Criteria for model specification.

Module 2:

Consumer behaviour – Derivation of demand functions and theoretical restrictions –

Specification and estimation of demand functions – Elasticities – Engel curve.

Module 3:

Producer’s behaviour: Specification and estimation of production function – CobbDouglas, Translog and CES production function – Measurement of partial and total factor

productivity.

Module 4:

Identification – Market model – Simple Keynesian model – Estimation and testing.

Module 5:

Economic forecasting – Methods of forecasting – Limitations.

Module 6:

Application of econometric tool in verification of selected economic topics – Wagner’s

law of public expenditure – Various methods of estimation of elasticities in taxation –

Demand for money – Inflation–output trade off – Export led growth strategy hypothesis –

Inter-relationship between fertility rate, work participation rate and family planning adoption.