ACADEMIC AFFAIRS OFFICE

INDIAN INSTITUTE OF TECHNOLOGY ROORKEE

No. Acd./ 2D1>G !IAPC-120 Dated: June 29 ' 2022

Head. Department of Humanities and Social Sciences

The IAPC in its 120th meeting held on 25.05.2022 vide Item No. 120.2.10 considered
and approved the following proposals of the Department of Humanities and Social Sciences
with modifications:

1. Syllabi of PCC courses for 2nd year BS-MS (Economics) (Appendix-A)

2. HSN-618: Panel Data Econometrics (PEC for M.Sc. Economics 2 nd year students)
(Appendix-B)

Assistant
rZ6'
R~istrar (Curriculum)
Copy to (through e mail):-

1. All faculty
2. Head of all Departments! Centres! School
3. Dean, Academic Affairs
4. Associate Dean of Academic Affairs (Curriculum)
5. Channel i! AIS (acad.iitr.ac.in)! Academic webpage of iitr.ac.in
 Appendix-A

INDIAN INSTITUTE OF TECHNOLOGY ROORKEE

NAME OF DEPARTMENT/CENTRE: Department of Humanities and Social Sciences

1. Subject Code: HSN-201 Course Title: Advanced Statistics

2. Contact Hours/Week: L: 3 T: 0 P: 2
3. Exam Duration (Hrs.): Theory: 3 Practical: 0
4. Relative Weightage: CWS: 10-25 PRS: 25 MTE: 15-25 ETE: 30-40 PRE: 0
5. Credits: 4 6. Semester: Autumn 7. Subject Area: PCC
8. Pre-requisite: Basic Statistics
9. Objective: To introduce students to advanced statistical methods.
10. Details of the Course:

S.No. Contents Contact

Hours
1. Probability, Distributions, and Conditional Distributions: Probability Set 6
Functions, Random Variables, Probability Density Functions, Distribution
Function, Conditional Probability, Marginal and Conditional Distributions,
Stochastic Independence
2. Discrete and Continuous Distributions: Binomial and Multinomial 6
Distributions, Geometric Distribution, Negative Binomial, Hypergeometric
Probability Distribution, Poisson Distributions, Uniform Distributions, Normal
(multivariate) Distribution, t and F Distributions, Gamma and Chi-square
Distribution, Beta Distribution
3. Distributions of Functions of Random Variables: Transformations of 6
Variables of Discrete Type, Transformations of Variables of Continuous Type,
Extensions of Change-of-Variable Technique, Distributions of Order Statistics,
Moment Generating Function Method, Expectations of Functions of Random
Variables
4. Limiting Distributions: Limiting Distributions, Stochastic Convergence, 4
Limiting Moment-Generating Functions, Central Limit Theorem, Some
Theorems on Limiting Distributions
5. Estimation: Point Estimation, Confidence Intervals, Bayesian Estimates 6
6. Statistical Hypotheses: Examples and Definitions, Likelihood Ratio Tests, 8
Chi-square Tests, Test of Equality of Means, Analysis of Variance, Regression
7. Non-parametric Statistics: Non-parametric Confidence Intervals, 6
Nonparametric Hypothesis Tests (Sign Test, Wilcoxon Signed Rank Test,
Median Test, Wilcoxon Rank Sum Test, Kruskal-Wallis, Friedman Test)
Total 42

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11. List of Practical: Applications will be demonstrated using R-software

S.No. Topic
1. Probability, Conditional Probability, and Bayes’ Theorem
2. Discrete and Continuous Random Variables
3. Multivariate Random Variables
4. Sampling Distributions and Limit Theorems
5. Preliminary Data Analysis: Exploration and Visualization
6. Parameter Estimation: Method of Moments, MLE
7. Properties and Sampling Distributions of Estimators
8. Hypothesis Testing and Confidence Intervals
9. Categorical Data and Non-parametric Tests
10. Linear Models and Extensions
11. ANOVA
12. Bayesian Estimation and Inference
13. Empirical Methods (Bootstrap, EM Algorithm, MCMC)

12. Suggested Books:

S.No. Name of Authors/Book/Publisher Year of

Publication/Reprint
1. R. V. Hogg, J. W. McKean, A. T. Craig, Introduction to 2013
Mathematical Statistics, 7th Edition, Pearson Education
2. M. H. DeGroot, M. J. Schervish, Probability and Statistics, 4th 2013
Edition, Pearson Education
3. K. M. Ramachandran, C. P. Tsokos, Mathematical Statistics with 2020
Applications in R, 2nd Edition, Academic Press
4. Larry A. Wasserman, All of Statistics: A Concise Course in 2013
Statistical Inference, 2nd Edition, Springer

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 INDIAN INSTITUTE OF TECHNOLOGY ROORKEE

NAME OF DEPARTMENT/CENTRE: Department of Humanities and Social Sciences

1. Subject Code: HSN-202 Course Title: Monetary Economics

2. Contact Hours: L: 3 T: 1 P: 0
3. Examination Duration (Hrs): Theory: 3 Practical: 0
4. Relative Weightage: CWS: 20-35 PRS: 0 MTE: 20-30 ETE: 40-50 PRE: 0
5. Credits: 4 6. Semester: Spring 7. Subject Area: PCC
8. Pre-requisite: Introduction to Economics
9. Objective: To develop an understanding of the theories of money, monetary policy and real effects
of monetary transmission mechanisms on the economy.

10. Details of Course

S.No. Contents Contact

hours
1. Introduction to Money: Money: Definition, Roles and Functions, The Role 4
of Money in the Macroeconomy, Changing Paradigms in Monetary Theory
2. Demand for Money: Demand for Money: Money Demand Function, 9
Theories of Money Demand, The Classical School and the Neutrality of
Money, Quantity Theory of Money, Walras’ and Say’s Laws, Money in the
Utility Functions, Demand for Money vis-a-vis the Demand for Other
Commodities
3. Supply of Money: Monetary Aggregates and Money Supply Function, 9
Process of Credit Creation, Money Multiplier and Monetary Base, Fiscal
Balance and the Money Supply Process
4. Money Market Equilibrium & Term Structure of Interest Rates: Money 10
Market and its Equilibrium, Determination of Interest Rate, Money in
General Equilibrium Framework, Money and Open Economy, Behaviour of
Interest Rates, Interest Rate and Rate of Return, Yield Curve, Expectations
Hypothesis, Segmentation Hypothesis and Liquidity Premium Hypothesis
5. Monetary Policy: Conventional and Unconventional Tools, Goals and 10
Conduct of Monetary Policy, Transmission Mechanisms of Monetary Policy,
Monetary Policy at the Zero Lower Bound, Monetary Policy Rules: Interest
Rate Targeting and Monetary Targeting (Rules versus Discretion), Inflation
Targeting, Monetary Policy in Action: India vis-a-vis Other Developed and
Developing Economies
Total 42

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11. Suggested Books

S.No. Name of Authors/Book/Publisher Year of

Publication/Reprint
1. Carl E.Walsh, Monetary Theory and Policy, MIT Press, 3rd 2010
Edition.
2. Lewis, M.K. and P.D. Mizen, Monetary Economics. Oxford 2000
University Press.
3. Bennett T. McCallum, Monetary Economics: Theory and 1989
Policy, Macmillan, Facsimile Edition
4. Mishkin, F., Economics of Money, Banking and Financial 2019
Markets, 11th ed., Pearson, 2019
5. Mohan, R. Monetary Policy in a Globalized Economy: A 2011
Practioner’s View, Oxford University Press.

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 INDIAN INSTITUTE OF TECHNOLOGY ROORKEE

NAME OF DEPARTMENT/CENTRE: Department of Humanities and Social Sciences

1. Subject Code: HSN-203 Course Title: Advanced Microeconomics

2. Contact Hours: L: 3 T: 1 P: 0
3. Examination Duration (Hrs): Theory 3 Practical 0
4. Relative Weightage: CWS: 20-35 PRS: 0 MTE: 20-30 ETE: 40-50 PRE: 0
5. Credits: 4 6. Semester: Autumn 7. Subject Area: PCC
8. Pre-requisite: Introductory Microeconomics
9. Objective: To develop an understanding of the economic theories for decision-making under risk
and uncertainty, and information economics.

10. Details of the course

S.No. Contents Contact

Hours
1. Advanced Topics in Choice under Certainty: Axioms of Choice, 9
Marshallian Demand function, Indirect Utility, Roy’s Identity, Expenditure
function, Hicksian Demand Curve, Duality in Consumption, Shephard’s
Lemma, Hicks and Slutsky price decomposition
2. Choice under Risk and Uncertainty: Defining risk and uncertainty, 9
Limitations of the Ordinal Utility Theory, Introduction to Probability,
Gambling as a Risky Event, Expected Utility Theory (EUT), Utility of
Money, Certainty Equivalent, Risk Aversion, Measurement of Risk
Aversion, Limitations of EUT, Allais Paradox, Ellsberg Paradox, Behavioral
Economics – Prospect Theory, Loss Aversion, Ambiguity Aversion and
Discounting
3. Game Theory: Basic structure of a game, Simple examples, Use of Games 8
in Economic Theories - Static Games, Dynamic Games, Iterations,
Dominant Strategy Equilibrium, Nash Equilibrium, Prisoner’s Dilemma,
Mixed Strategies, Maximin Strategies, Zero-sum Games, Induction -
Backward and Forward.
4. Information Economics: Asymmetric Information, Adverse Selection, 8
Moral Hazard, Market Signaling, Principal Agent Problem, Cost of
Information
5. General Equilibrium Analysis: Pure Exchange: The Edgeworth Box,
Pareto Optimality, Two Theorems in Welfare Economics, The Walrasian 8
Model, General Equilibrium Analysis Under Uncertainty, The Arrow-
Debreu Equilibrium, Social Choice Theory, Arrow’s Impossibility
Theorem.
Total 42

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11. Suggested Books

S.No. Name of Authors/Book/Publisher Year of

Publication/Reprint
1. Barr, Nicholas. The Economics of the Welfare State. 6th 2020
Edition, Oxford University Press, Global
2. Varian, Hal. Microeconomic Analysis. 3rd ed. New York, NY, 2019
Norton
3. Nicholson, Walter, and Christopher M. Snyder. Intermediate 2017
microeconomics and its application. 12th Edition. Cengage
Learning.
4. Jehle, Geoffrey, and Philip Reny. Advanced Microeconomic 2010
Theory, Pearson, 3rd Edition
5. Mas-Collel, Andreu, Michael D. Whinston, and Jerry R. 1995
Green. Microeconomic Theory. New York, NY: Oxford
University Press.

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 INDIAN INSTITUTE OF TECHNOLOGY ROORKEE

NAME OF DEPARTMENT/CENTRE: Department of Humanities and Social Sciences

1. Subject Code: HSN-204 Course Title: Advanced Development Economics

2. Contact Hours: L: 3 T: 1 P: 0
3. Examination Duration (Hrs): Theory: 3 Practical: 0
4. Relative Weightage: CWS: 20-35 PRS: 0 MTE: 20-30 ETE: 40- 50 PRE: 0
5. Credits: 4 6. Semester: Spring 7. Subject Area: PCC
8. Pre-requisite: Elementary Development Economics
9. Objective: To understand contemporary topics in development economics by incorporating
finance and international trade concepts.

10. Details of Course

S.No. Contents Contact

Hours
1. Study of Economic Development: Stylized facts and evolving principles in 7
economic development; Development and equity – poverty-growth-inequality
triangle, development gap and income distribution, poverty-weighted growth
rates.
2. Factors in Development Process: Capital accumulation – the role of capital and 9
the technical progress in development, infrastructure investment; Human capital
– education, returns to education, policies to reduce the gender gap, impact of
nutrition and health on development; Child labour; Health systems policy; Role
of women in economic development.
3. Financing Economic Development: Financing from domestic resources – 8
capacity to save, willingness to save; Financial intermediaries; Informal financial
sector; Rural financial intermediaries and microcredit; Fiscal policy and taxation;
Inflation, saving, and growth; Keynesian approach to financing of development;
Quantity theory approach to financing of development.
4. International Trade, Aid, and Development: Trade policy – static vs. dynamic 9
gains; Trade liberalization, Theory of protection, Import substitution vs. export
promotion, Trade vs. aid; Role of foreign borrowing; Types of international
capital flows; Macroeconomic impact of international aid; Remittances; Foreign
direct investment and multinational corporations.
5. BOP, IMF, and Development: Balance of payments (BOP) – deficits and debts, 9
policy issues, debt crisis in 1980s; Terms of trade; Exchange rate and devaluation;
IMF supply-side approach to devaluation; IMF lending and criticisms; Special
drawing rights and developing countries; Global financial crisis and developing
countries.
Total 42

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11. Suggested Books

S.No. Name of Books/Author/Publisher Year of

Publication/Reprint
1. Todaro and Smith, Economic Development, 11th Edition, Addison 2011
Wesley
2. Debraj Ray, Development Economics, Oxford University Press 2009
3. Dwight H. Perkins, Steven Radelet, and David L. Lindauer, 2012
th
Economics of Development, 7 Edition, W.W. Norton & Co.
4. Amartya Sen, Development as Freedom, Anchor Books 2000
5. Meier, Gerald M. and James E. Rauch, Leading Issues in Economic 2005
th
Development, 8 Edition, Oxford University Press
6. Thirlwall and Pacheco-López, Economics of Development, 10th Ed., 2017
Bloomsbury Publishing

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 INDIAN INSTITUTE OF TECHNOLOGY ROORKEE

NAME OF DEPARTMENT/CENTRE: Department of Humanities and Social Sciences

1. Subject Code: HSN-205 Course Title: Advanced Macroeconomics

2. Contact Hours: L: 3 T: 1 P: 0
3. Examination Duration (Hrs): Theory: 3 Practical: 0
4. Relative Weightage: CWS: 20-35 PRS: 0 MTE: 20-30 ETE: 40- 50 PRE: 0
5. Credits: 4 6. Semester: Autumn 7. Subject Area: PCC
8. Pre-requisite: Introduction to Economics
9. Objective: To provide students an understanding of contemporary macroeconomics theories by
incorporating different schools of thought and their policy implications.

10. Details of the Course

S.No. Contents Contact

Hours
1. The Open Economy: Structure and Key Concepts - Export, Import, and Income 8
Identity; Determinants of Trade - Export and Import Functions; International
Capital Flows and Trade Balance - Determinants of Capital Flows; Foreign
Exchange Rate System and Determinants of Exchange Rates; Effects of Trade
Policies
2. Business Cycles and Economic Models in an Open Economy: Mundel- 10
Fleming Model (Fixed and Flexible Exchange Rate) under Perfect and Imperfect
Capital Mobility; Keynesian (AD-AS-BP) Flexible Price Model (Fixed and
Flexible Exchange Rate)-Internal and External Equilibrium
3. The Resurgence of Neoclassicism: Monetarism-Friedman’s Modern Quantity 7
Theory of Money, The Phillip’s Curve and the Natural Rate of Hypothesis,
Expectations-Augmented Phillip’s Curve, Accelerationist Hypothesis and
NAIRU
4. New Classical Economics and Real Business Cycle Theory: Microeconomic 7
foundations of Macroeconomics – Friedman’s Workers’ Fooling Model, Lucas
Information Barriers Model, Real Business Cycle Models - Effects of a Positive
Technology Shock
5. New Keynesian Economics and New Consensus Macroeconomics: Sticky 10
Price (Menu Cost) Models, Efficiency Wage Models, Insider–Outsider Models
and Hysteresis; New Consensus Macroeconomics (NCM): Theoretical Aspects
and Monetary Policy in the NCM, NCM Critique: Policy Implications
Total 42

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11. Suggested Books

S.No. Name of Books/Author/Publisher Year of

Publication/Reprint
1. N. Gregory Mankiw, Macroeconomics, 10th Edition, Macmillan 2019
2. Rudiger Dornbusch and Stanley Fischer and Richard Startz, 2018
th
Macroeconomics,13 Edition, McGraw-Hill
3. Richard T. Froyen, Macroeconomics: Theories and Policies, 10th 2013
Edition, Pearson
4. Angus C. Chu, Advanced Macroeconomics: An Introduction For 2020
Undergraduates, World Scientific Europe Ltd
5. Ben J. Heijdra, Foundations of Modern Macroeconomics Oxford: 2017
Oxford University Press

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 INDIAN INSTITUTE OF TECHNOLOGY ROORKEE

NAME OF DEPARTMENT/CENTRE: Department of Humanities and Social Sciences

1. Subject Code: HSN-206 Course Title: Introduction to Econometric Theory

2. Contact Hours: L: 3 T: 0 P: 2
3. Examination Duration (Hrs): Theory 3 Practical 0
4. Relative Weightage: CWS: 10-25 PRS: 25 MTE: 15-25 ETE: 30-40 PRE: 0
5. Credits: 4 6. Semester: Spring 7. Subject Area: PCC
8. Pre-requisite: NIL
9. Objective: To provide an understanding of basic econometric methods for economic analysis.
10. Details of the course

S.No. Contents Contact

Hours
1. Simple Linear Regression Model: Properties of Simple Linear Regression 9
Model, Deriving Ordinary Least Square (OLS) Estimates, Goodness of fit,
Expected values and variance of OLS estimators
2. Multiple Linear Regression Model: Obtaining OLS estimates, 9
Interpretation of coefficients, Expected Values of OLS estimators, Omitted
Variable Bias, Variance of OLS estimators, The Gauss Markov Theorem,
Regression with non-linear variables
3. Statistical Inference and OLS Asymptotics: Sampling distribution of 8
Estimators, t-test, p-values, Confidence Intervals, F-test, R-square and
Adjusted R-square, Consistency of estimator, Asymptotic Normality and
Large Sample Inference, Asymptotic Efficiency of OLS
4. Violations in OLS Assumptions: Non-normality, Multicollinearity, 10
Heteroskedasticity, Autocorrelation, Robust Inference after OLS Estimation,
Consequences, Testing, Remedial measures
5. Multiple Regression Analysis with Dummy Independent Variables: 6
Single Dummy, Multiple dummies, Interaction among dummies, Dummy
Variable Trap, Dummy Variable Approach
Total 42

11. List of Practical:

S.No. Topic
1. Estimation of Sample Regression Function and OLS Estimates using Economic Data
2. Testing Hypotheses and Linear Restrictions about Population Regression Coefficients,
& Variances and Standard Errors of OLS Estimators
3. R2 as a measure of Goodness of Fit and Overall Significance of a Regression
4. Data Scaling and OLS estimates
5. Comparison of Simple and Multiple Regression Estimates
6. Irrelevant variables & Omitted variable bias
7. Outliers, Distribution and Normality of Error Term
8. Log-linear, Double-log, or Constant Elasticity Models- Cobb-Douglas Production
Function
9. Estimation of Log-lin or Linear-log, Polynomial Regression Models and Growth Rates

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 10. Numerical Exercise on Large Sample Test
11. Detection and Remedies of Multicollinearity in Multiple Regression using Economic
Data
12. Detection and Remedies of Heteroscedasticity using Economic Data
13. Detection and Remedies of Autocorrelation using Economic Data
14. Use of Dummy Variables in Seasonal Data and Expanded Sales Function

12. Suggested Books

S.No. Name of Books/Author/Publisher Year of

Publication/Reprint
1. J.M. Wooldridge, Introductory Econometrics: A Modern 2019
Approach, Cengage, 7nd Edition
2. J.H. Stock and M.W. Watson, Introduction to Econometrics, 2017
Addison Wesley, 3rd Edition
3. R. Davidson. Econometric Theory and Methods, Revised 2009
Edition, Oxford University Press
4. Damodar Gujarati, and Dawn Porter, Basic Econometrics, 2020
th
McGraw Hill, 6 Edition

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 INDIAN INSTITUTE OF TECHNOLOGY ROORKEE

NAME OF DEPARTMENT/CENTRE: Department of Humanities and Social Sciences

1. Subject Code: HSN-207 Course Title: Elementary Development Economics

2. Contact Hours: L: 3 T: 1 P: 0
3. Examination Duration (Hrs): Theory: 3 Practical: 0
4. Relative Weightage: CWS: 20-35 PRS: 0 MTE: 20-30 ETE: 40- 50 PRE: 0
5. Credits: 4 6. Semester: Autumn 7. Subject Area: PCC
8. Pre-requisite: Nil
9. Objective: To introduce fundamentals of development economics along with a discussion of
development theories, issues, and policy intervention.

10. Details of the Course

S.No. Contents Contact

Hours
1. Principles of Economic Development: Nature of Development Economics; 8
Growth vs Development Debate; Evolution of Development Economics Over
time; Millenium Development Goals (MDGs) and Sustainable Development
Goals (SDGs); Basic Indicators of Development, Traditional vs. New Human
Development Index (HDI); Characteristics of Developing World; Standard of
Living Differences – Assessing whether Convergence of Living Standards
Exist
2. Theories in Economic Development: Classical theories – Rostow model, 9
Harrod-Domar model; Structural Change Models – Lewis-Fei-Ranis Model;
Dependency Theory; Traditional Neoclassical Model; Big Push Model; O-Ring
Model; Vicious Circle of Poverty
3. Poverty and Inequality: Poverty Measurement – Absolute and Relative 9
Poverty, Rural Poverty, Women and Poverty; Inequality – Measurement,
Kuznet’s Inverted U-Hypothesis; Policy Options – Areas of Intervention,
Progressive Income and Wealth Taxes; Direct Transfer Payments, Public
Provision of Goods and Services, Multidimensional Poverty Index and its
Measurement
4. Various Issues in Developmental growth: Dualism – Regional Inequalities, 10
Theories of Dependence and Unequal Exchange; Population Growth – Costs
and Benefits, Low-Level Equilibrium Trap Model, Migration and
Development– Urbanization and Rural-Urban Migration, Harris Todaro
Model; Development and Environment – Basic Issues, Economic Models of
Environmental Issues and Policy Measures
5. Policymaking and Role of Institutions in Development: Models in 6
Development Planning; State vs Market Debate in Development Planning;
Washington Consensus; Role of Civil Society in Development; Governance
and Reform
Total 42

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11. Suggested Books

S.No. Name of Books/Author/Publisher Year of

Publication / Reprint
1. Todaro and Smith, Economic Development, 11th Edition, Addison 2011
Wesley
2. Debraj Ray, Development Economics, Oxford University Press 2009
3. Dwight H. Perkins, Steven Radelet, and David L. Lindauer, 2012
Economics of Development, 7th Edition, W.W. Norton & Co.
4. Amartya Sen, Development as Freedom, Anchor Books 2000
5. Meier, Gerald M. and James E. Rauch, Leading Issues in 2005
th
Economic Development, 8 Edition, Oxford University Press
6. Thirlwall and Pacheco-López, Economics of Development, 10th 2017
Ed., Bloomsbury Publishing

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 Appendix-B

INDIAN INSTITUTE OF TECHNOLOGY ROORKEE

NAME OF DEPARTMENT/CENTRE: Department of Humanities and Social Sciences

1. Subject Code: HSN-618 Course Title: Panel Data Econometrics

2. Contact Hours: L: 2 T: 0 P: 2
3. Examination Duration (Hrs): Theory: 2 Practical: 0
4. Relative Weightage: CWS: 10-25 PRS: 25 MTE: 15-25 ETE: 30-40 PRE: 0
5. Credits: 3 6. Semester: Both 7. Subject Area: PEC
8. Pre-requisite: Basic Econometrics
9. Objective: To equip students with static and dynamic panel data methods useful for economic and
business analyses with software application.

10. Details of Course:

S.No. Contents Contact

Hours
1. Introduction to Panel Data: Overview of Panel Data, Balanced vs. Unbalanced 2
Panels; Short vs. Long Panels; Incomplete Panels (Rotating, Pseudo, Pooling,
Quasi); Panel Data Regressions; Creating Panels
2. Linear Static Panel Data Models: Static Panel Estimators; Unobserved 6
Heterogeneity vs. Cross-sectional Dependence; Large Heterogeneous Panels and
Slope Heterogeneity; Error Components and Structure – Robust, Clustered,
Bootstrap
3. Linear Dynamic Panel Data Models: Dynamic Panels with a Short T Period and 6
Large N; Panel Endogeneity; Instrumental Variables – 2SLS, GMM Estimation;
Dynamic Panel Estimators – A-H, Difference, System GMM & ML Estimators;
Tests of Over-identification and Instrument Validity
4. Nonstationary Panel Data: Concept of Stationarity in Panel Data; Panel Unit 4
Root Tests - With and Without Cross-sectional Dependence; Panel Cointegration
Tests
5. Non-linear Panel Data Models- Models with Limited Dependent Variables in 5
Panel Data – Panel Logit, Probit, Tobit Models; Panel Ordered Models; Panel
Quantile and Threshold Effects
6. Spatial Panel Data Models: Models in Space and Time; Spatial Dependence in 5
Panels; Spatial Lag and Error Models; Estimation and Testing of Models with
Spatial Dependence; Spatial Discrete Choice Models
Total 28

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11. List of Practical: Applications will be demonstrated using software.

1. Panel Data – Organizing, Creating and Describing

2. Static Panel Estimators I- Pooled OLS, Within Estimator and Fixed-Effects
3. Static Panel Estimators II – Pooled FGLS, RE Estimator and Panel Endogeneity
4. Panel Cross-sectional Dependence
5. Panel Unit Root Tests - With and Without Cross-sectional Dependence
6. Panel IV Estimation – A-H and Hausman-Taylor Estimators; Over-Identification and
Instrument Validity
7. Dynamic Panel Estimators I –Difference GMM
8. Dynamic Panel Estimators I – One-step and Two-step System GMM Estimators
9. Heterogeneous Panels and Slope Heterogeneity
10. Non-Linear Panel Models I –Discrete Choice Models: Panel Logit and Probit
11. Non-Linear Panel Models II- Panel Ordered, Panel Quantile and Threshold Effects
12. Estimation and Testing of Models with Spatial Dependence

12. Suggested Books

S.No. Name of Authors/ Book/Publisher Year of

Publication/ Reprint
1 Arellano, M., Panel Data Econometrics, Oxford University Press 2003
nd
2 Baltagi. B., Econometric Analysis of Panel Data, 2 Edition, Wiley 2001
3 Hsiao, C., Analysis of Panel Data, 3rd Edition, Cambridge 2014
University Press
4 Cameron and Trivedi, Microeconometrics Using Stata, Stata 2010
Press, Revised Ed.
5 Biørn, E., Econometrics of Panel Data: Methods and Applications, 2016
Oxford University Press
6 Stata Corp, Longitudinal-Data/Panel-Data Reference Manual, 2021
Release 17, Stata Press
7 Pesaran, M.H., Time Series and Panel Data Econometrics, Oxford 2015
University Press

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