Course abstract

As the name suggests, the subject econometrics aims to measure economic relationship. Using economic data and applying mathematical and statistical tools, it provides empirical validity of abstract economic theory. However, application of econometrics is not confined in the domain of economics, rather widespread application of econometrics is possible in other social science and pure science domains also. After successful completion of the course, students would be able to formulate econometric model to analyze data and then would be able to establish any cause-effect relationship in their preferred areas of interest like economics, finance, management, engineering and science. An expertise in econometrics increases the job prospect of the students significantly.