Econometrics Syllabus & Subjects 2023: Semester/Year Wise List, Top Colleges Syllabus PDF

Updated on Nov 7, 2022 11:45 IST

Econometrics quantifies economic phenomena by combining economic theory, mathematics, and statistical inference. In other words, it transforms theoretical economic models into effective instruments for economic policymaking. Econometrics' goal is to translate qualitative statements (such as "the relationship between two or more variables is positive") into quantitative statements (such as "consumption expenditure grows by 95 paise for every INR 1 increase in disposable income").

Econometricians transform the ideas of economic theorists into estimable forms. "Econometric approaches are employed in different fields of economics, including finance, labour economics, macroeconomics, econometrics, and economic policy," write Stock and Watson (2007). Economic policy choices are rarely undertaken without first conducting econometric analyses to assess their effect.

Syllabus- Important facts for Econometrics

  • BA in Econometrics is a six-semester course: This course is designed to expose students to the basic concepts of econometric theory. The focus of the course will be on thinking like an economist and demonstrating how to apply Econometric concepts to real-world problems. Students must complete fourteen required economics courses over six semesters. Every core course is necessary. In addition, Econometrics students will choose four Discipline Specific Electives in addition to basic economics courses (DSE). Discipline-Specific Electives (DSE) Courses are available in the fifth and sixth semesters, with students choosing two from a list of alternatives.
  • MA in Econometrics is a four-semester course: The two-year MA Econometrics curriculum is structured into four semesters. Basic and optional economics and associated areas are included in the curriculum. The course prepares students for professions in banking, financial management, financial consulting, trading, stockbroking, and education.
  • Scope in India: Econometrics is an evergreen subject owing to its strong use and demand in labour markets. After specialising in econometrics, you may be able to get an excellent job. Because it is required for analysing and predicting economic variables, econometrics is a highly sought-after ability in economics. After specialising in econometrics, you may be able to get an excellent job.
  • General Examination Pattern: Students are often graded based on assignments, minor projects, mid-semester exams, and end-of-semester exams.

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List of Subjects in Econometrics

Econometrics is offered at different levels, including UG and PG. The course structure compiles both elective and core subjects. Students can choose between the elective subjects. At the same time, the core subjects remain common for all the candidates.

Typical Core Subjects in Econometrics

Subject Title

Subject Details

Introductory Econometrics

This course is designed to expose students to the basic concepts of Econometric theory. The focus of the course will be on thinking like an economist and demonstrating how to apply Econometric concepts to real-world problems. 

Mathematical Methods in Economics-I

This is the first of two core courses. This series aims to teach the body of basic mathematics required for UG economic theory study, namely the courses on Econometric theory, macroeconomic theory, statistics, and econometrics are included in this syllabus. In this course, specific economic models are used to demonstrate the process of applying mathematical tools to economic theory in general rather than as the outcome.

Mathematical Methods in Economics-II

This is the second course of a compulsory two-course series. This component will be taught in the second semester. This sequence's objective is to impart the body of fundamental mathematics essential for undergraduate study of economic theory, especially the courses on Econometric theory, macroeconomic theory, statistics, and econometrics. In addition, specific economic models are utilised in this course to explain how to use mathematical tools in economic theory in general.

Statistical Methods for Economics

This is a course on statistical methods for economics. It begins with some fundamental concepts and terminology associated with statistical analysis and inference. Following that, the idea of probability is introduced, followed by probability distributions of discrete and continuous random variables and joint distributions. The course introduces sampling distributions, which connect probability theory with statistical inference. Finally, the semester concludes with statistical inference subjects, including point and interval estimation.

Typical Electives for Econometrics

Subject Title

Subject Details

Introductory Econometrics

This course provides an in-depth overview of key econometric ideas and methodology. It covers statistical concepts, including hypothesis testing, estimation, and diagnostic testing for basic and complex regression models. The course also covers the consequences and tests for regression model misspecification.

Economics of Health and Education

United Nations member nations designated education and health as a Millennium Development Goal, indicating their importance in improving well-being. These goals are universal primary education, reducing child mortality, improved mother health, and disease prevention. This course presents an Econometric framework for analysing individual health and education choices and government action and aspects of unfairness and discrimination in both sectors. It also provides information about Indian health and education.

Detailed Syllabus of Econometrics

The curriculum for a BA in Econometrics varies per institution, but the disciplines are generally the same. The following is a basic summary of the core or optional courses taught in BA Econometrics from the first to sixth semesters.

Semester

Core/Elective

Subject title

Subject Details

1

Introductory Econometrics

Applied Econometrics

This course's goal is to provide a foundation in applied econometric analysis and develop skills needed for empirical economics research. The subjects covered are regression model construction and selection, dynamic econometric models, advanced regression analysis methodologies, and panel data models. In addition, this course involves knowledge of econometric software and computer skills since the focus is on technique application.

2

Introductory Macroeconomics

Introductory Macroeconomics

This course is designed to expose students to the fundamental concepts of macroeconomics. The study of the whole economy is known as macroeconomics. This course covers the fundamental concepts involved in calculating and measuring aggregate macroeconomic variables such as savings, investment, GDP, money, inflation, and the balance of payments.

2

Statistical Methods for Economics

Comparative Economic Development

This course covers selected subjects from the nineteenth and early twentieth centuries in a comparative historical framework. The course focuses on a group of countries that followed distinctly different growth trajectories and patterns to achieve their industrial transition. It compares the outcomes of these various trajectories on sectoral change, inter-sectoral relations, labour processes, industrial relations, and the role of the state in facilitating the respective trajectories.

3

Intermediate Econometrics

Intermediate Econometrics-I

The course is intended to provide students with a solid basis in Econometric theory, allowing them to explore the behaviour of individual agents formally. Because students have previously been exposed to quantitative procedures in prior semesters, mathematical tools are employed to assist students in understanding the fundamental concepts. This course analyses consumer and producer behaviour and the behaviour of a competitive organisation.

4

Public Economics

Public Economics

The study of government policy from economic efficiency and equality standpoints is known as public economics. This study aims to look at the nature of government involvement and how it affects allocation, distribution, and stability. This research offers a thorough examination of government revenue and spending. The scope of the issue is extensive, including public benefits, market failures, and externalities. The study is split into two parts: public economic theory and Indian public finances.

5

Indian Economics

Indian Economics-I

This course examines important patterns in economic statistics and policy debates in India since independence, focusing on paradigm changes and turning points identified via the use of suitable analytical frameworks. Because of the rapid changes in India, the reading list is updated on an annual basis.

5

Development Economics

Development Economics-I

This is the first of two economic development articles. The course starts with a look at several development theories and their rationales. It then moves on to aggregate growth models and cross-national comparisons of growth experiences, which may be useful in evaluating these models. Next, inequality measures are developed using the axiomatic framework for measuring inequality, and the link between growth and inequality is investigated. Finally, the course concludes with a discussion of the state's role in economic development and the informational and incentive issues that impact state governance.

6

Indian Economics

Indian Economics-II

This course investigates sector-specific policies and their effects on key Indian economic indicators. It focuses on critical policy concerns and analyses empirical data from India. Due to the country's fast development, the reading list is updated yearly.

6

Development Economics

Development Economics-II

This is the second of two modules on economic development. It starts with fundamental demographic principles and their change over time. Next, impoverished nations' specific enforcement issues are tied to market and contract structure. Next, the governance of communities and organisations is investigated, and the findings are related to long-term development concerns. The course concludes with perspectives on globalisation's impact and greater international reliance on the development process.

Books and Authors Related to Econometrics 

Subject

Book title

Author

Description

Principles of Econometrics

Mostly Harmless Econometrics: An Empiricist’s Companion

Joshua D Angrist and Jorn-Steffen Pischke

This Top Econometrics book will teach students how to use econometrics in the real world. This Econometrics book is an excellent resource for regression analysis. Everyone, from kids to professors, would gain from this book.

Applied Econometrics

Freakonomics: A Rogue Economist Explains the Hidden Side of Everything

Steven Levitt and Stephen J Dubner

Without the immensely well-known and amusing Freakonomics, no list of Econometrics books would be complete. The book, a collection of articles by Levitt and Dubner, focuses on how economic principles might be used in everyday life. There are chapters on infidelity, drug dealing, the KKK, and even naming children. It was such a tremendous success that it spawned a blog, a radio show, a sequel, and even a film.

Statistical Methods for Economics

Using Econometrics: A Practical Guide

AH Studenmund

Students with no prior knowledge of econometrics will find this best-selling book an excellent place to start. Economic studies is not an easy subject. This, however, does not prevent the subject from being presented in an understandable way. This Econometrics book demonstrates how to teach econometrics in an interesting way without the use of unnecessary words or phrases. This book is intended for people interested in learning the foundations of econometrics. The book will help students obtain detailed explanations for each subject and will also tie their comprehension to the magnificent images in this book. In a nutshell, this is an excellent introduction to econometrics.

Statistical Methods for Economics

Thinking, Fast and Slow

Daniel Kahneman

Thinking, Fast and Slow is much more than a summary of Kahneman's findings covering decades of very successful economics work. Instead, it's simply a book on how human judgement can't be trusted - and how knowing this may shift your perception of decision-making processes and impact your life. The book has sold over a million copies and is considered a classic in behavioural economics.

Introductory Econometrics

Introductory Econometrics: A Modern Approach

Jeffery M Wooldridge

As the title states, this is an excellent beginning point for anybody interested in econometrics. This book comprehensively covers all topics that could be included in the course. This book is useful for individuals who are working on or thinking about applied econometrics. This book shows students how to use R, Stata, Microsoft Excel, Minitab, EViews, and Text to display data. It also teaches how to use current business practices and difficulties, as well as the practical application of econometrics.

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Entrance Exams for Econometrics

A bachelor's degree in economics is required for admission to the master's programme. Candidates must pass a written entrance exam to be admitted to post-graduate programmes. The following are some post-graduate economics tests for enrolling in a course.

  • National Eligibility Test (NET)
  • Jawaharlal Nehru University Entrance Exam
  • Madras School of Economics Entrance Exam
  • BHU MA entrance exam for Economics
  • Delhi University entrance test
  • IGNOU Entrance Test
  • Mumbai University Entrance Test
  • Anna University MA/MPhil Entrance Exam
  • Genteel School of Business & Economics All India Entrance Exam
  • Pune University Entrance Test

Syllabus for Distance Program in Econometrics

Distance education allows students who cannot afford full-time courses to get their degrees by studying at home. Part-time or distance BA in Econometrics programmes are also available for students who do not satisfy the qualifying criteria for full-time courses. The curriculum of distance education programmes is very similar to traditional programmes. The evaluation procedure is essentially identical to standard courses (30% for internal assessment and 70% for the end-of-semester test). 

Top Colleges for Econometrics Distance Programs are Acharya Nagarjuna University, Bharathidasan University, Calicut University etc.

Top Colleges for Econometrics

Several colleges and institutes across India offer Econometrics courses. Following are some of the top colleges that offer Econometrics as one of their courses. The rankings are based on various criteria.

College/University/Institution

Syllabus Links

Symbiosis School of Economics

To be uploaded soon

IGNOU Delhi

To be uploaded soon

Jamia Millia Islamia

To be uploaded soon

MSU Baroda

To be uploaded soon

Christ University

To be uploaded soon

Frequently Asked Questions

Q: What is the scope of Econometrics?

A: Econometrics has a broad scope both in India and abroad. It is required for analysing and predicting a range of economic variables, and economic policies are only formulated after econometric evaluations. As a result, students can build successful careers if they study Econometrics.

Q: What are the subjects in Econometrics?

A: Some subjects covered in Econometrics Courses are: 
  • Introductory Econometrics
  • Mathematical Methods in Economics-I
  • Mathematical Methods in Economics-II
  • Statistical Methods for Economics

Q: Is Econometrics a good course?

A: It is an excellent technique to learn about many real-world issues such as income inequality, product pricing, and so on. In addition, Econometrics is essential for understanding economic fundamentals, such as how economies work and why they do what they do.

Q: Which is better: BA Econometrics or Diploma in Econometrics?

A: Both BA Econometrics and Diploma Econometrics courses have their merits. For example, suppose a student wishes to learn in detail about practical management, BA in Econometrics offers better practical knowledge. On the contrary, students who wish to perform Research and Development in Econometrics can opt for Diploma.

Q: Is there any entrance exam for Econometrics?

A: Yes. Students can appear for one of the many entrance exams conducted for Econometrics Courses. This includes the National Eligibility Test (NET), Jawaharlal Nehru University Entrance Exam, Madras School of Economics Entrance Exam, BHU MA entrance exam for Economics and Delhi University entrance test. All these exams require a Class 12th certificate in any specialisation.

Q: Is Econometrics hard to study?

A: Many students contemplating studying Econometrics are concerned about whether the exam will be challenging and whether they should choose this course or one that is easier. Even though Econometrics is not the most challenging subject, students must ensure that they are well prepared before entering.

Q: Do you need maths for Econometrics?

A: Econometrics might be but is not always a maths-intensive subject. Fundamental Econometric assumptions such as scarcity, human choice, rationality, ordinal preferences, and trade do not need extensive mathematical abilities.

Q: Are writing skills compulsory for Econometrics?

A: Writing is an essential talent for efficient communication in today's society, particularly in economics. Excellent writing abilities may help an Economist save time during projects, provide constructive criticism in performance assessments, and create clear and concise project plans.

Q: Can PCB students do Econometrics Courses?

A: Yes. Students who have studied science after 10th grade are eligible for admission in Econometrics Courses in India. Any student must have a background in PCB to get admission in Econometrics.

Q: Does Econometrics have a future?

A: Econometrics forecasts how individuals will react in settings involving economic or financial transactions using a set of fundamental ideas. Among them are the laws of supply and demand, opportunity costs, and utility maximisation. Econometrics also relates to businesses.

Q: Is Econometrics a BA or MA?

A: It is a specialisation in both BA and MA degrees. A BA in Econometrics is an undergraduate course which focuses on several aspects of Econometrics without a specialisation in a single field, whereas an MA in Econometrics will focus on specialised processes and applications of Economics.

Popular Exams

Following are the top exams for Econometrics. Students interested in pursuing a career on Econometrics, generally take these important exams.You can also download the exam guide to get more insights.

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Popular Econometrics Colleges in India

Following are the most popular Econometrics Colleges in India. Learn more about these Econometrics colleges (Courses, Reviews, Answers & more) by downloading the Brochure.

#175 India Today

3 K
1.0
1 Course
10.53 K
4 LPA

#105 Outlook

Popular Private Econometrics Colleges in India

#175 India Today

3 K
1.0
1 Course
10.53 K
4 LPA

#105 Outlook

Popular Econometrics UG Courses

Following are the most popular Econometrics UG Courses . You can explore the top Colleges offering these UG Courses by clicking the links below.

UG Courses

Popular Econometrics PG Courses

Following are the most popular Econometrics PG Courses . You can explore the top Colleges offering these PG Courses by clicking the links below.

PG Courses

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