M. Phil Economics

The Guru Nanak Dev University's Faculty of Economics and Business offers M. Phil Economics course to its students. The course structure for it is as follows:

Unit - I
Meaning of Research, Objectives of Research, Characteristics of and steps in scientific methods of research, Methods of research in economics, Selection of appropriate method for date collection;
Observation method; Construction of schedule/questionnaires, Interview method, Guidelines for successful interviewing.

Unit - II
Sampling Techniques: Simple random sampling; pps sampling; Stratified random sampling; multistage sampling (applications only).Testing of hypotheses: Sampling distributions, properties of t, F and χ2
distributions and tests bases on these distributions. Univariate one-way analysis of variance.
Multivariate normal distribution, its properties without proof; one way multivariate analysis of variance, Fisher's linear discriminant analysis. Principal component analysis and factor analysis (basic
conceptions only).

Unit - III
Model Formulation and specification of General regression model: Problem of estimation and inference; pooling of cross sectional and time series data. Regression with dummy explanatory
variables. Regression with dummy dependent variables-the probit and logit models. Lagged models: the Koyck model, Nerloves Partial adjustment and the Almon (polynomial) model.

Unit - IV
Time series forecasting, Box Jenkins based AR, MA and ARMA. models; causality analysis, Concepts of stationarity, unit root, cointegratrion. Simultaneous equations models: identification problems; rank
and order conditions. Indirect least squares (ILS) and two state least squares (2SLS) methods of estimation.