Course Code: MEC-(O) 1831 Course Name: Basic Quantitative Techniques Unit I: Basic concepts of Mathematics
Role of Mathematics in Economics; Number System—Integers, Rational Numbers;
Irrational Numbers, Real Numbers and Imaginary Numbers; Gradient and Equation of Straight Line; Equations-Different types of equations-Basic concept (Linear and Quadratic)
Unit II: Measures of Central Tendency and Dispersion
Meaning and Scope of Statistics; Measures of central tendency— Arithmetic Mean, Median, Mode, Geometric Mean and their merits and demerits; Measures of dispersion—
Mean Deviation, Standard Deviation, Coefficient of Variation, Variance and their merits and demerits;
Unit III: Data Techniques and Correlation Regression analysis
Data collection methods; sampling techniques Correlation—meaning and scope: Karl Pearson’s Coefficient of Correlation; rank Correlation; concept of regression –difference between
Unit IV: Basic Econometrics
Nature, meaning and scope of econometrics; Relationship of econometrics with statistics, mathematics and economics; Nature and types of data for economic analysis;
Methodology of econometrics–model specification stage, model estimation stage, model evaluation stage;
Unit V Dummy Variable Technique and Hypothesis
Dummy variable –use of dummy variables, testing of hypothesis; Level of significance, Confidence limits and critical region; Type I and Type II error; one tailed and two tailed tests
References:
1. Gujarati, D. N. (2004) Basic Econometrics, 4th Edition, Tata Mcgraw-Hill Publishing Company Ltd, New Delhi.
2. Koutsoyiannis, A. (2006), Theory of Econometrics, 2nd Edition, Palgrave, New York 3. S C Srivastava, Smt. Sangya Srivastava (2003) Fundamentals of statistics Anmol
publication
4. Croxton, Cowden and Klien , Applied General statistics
5. Schaum’s Outline (2005),An Introduction to Mathematical Economics, Tata McGraw Hill, New Delhi.
6. R.G.D Allen (1974), Mathematical Analysis for Economists, Macmillan Press, London.
7. D.N Elhance & Elhance (2009), Fundamentals of Statistics, Kitab Mahal, New Delhi.