Econometrics for Decision Making

Overview

"Econometrics for Decision Making" is a management development program designed to provide participants with a comprehensive understanding of econometric methods and their applications in decision-making. The course covers key topics such as regression analysis, time series analysis, and panel data analysis.

The course begins by introducing the importance of econometrics in decision-making, including how it can help organizations make better decisions, improve forecasting accuracy, and enhance overall performance. It then explores key concepts related to econometrics, such as data collection, model specification, and estimation techniques.

Programme Objective

The course concentrates on the application of econometric in the business decision making process by answering to the questions: How to deal with the data numbers?; How to use the econometrics wisely and fruitfully?; and how to make economic and business sense out the estimated figures?

The specific learning outcomes from the course are:

Content & Mode Of Conduction

This programme will be conducting offline mode in IIM Jammu Campus to cover following content:

To understand the role and importance of econometrics in dealing with real life business and economic problems;
To understand the construction, testing, and analyzing econometric models, using variables and relationships commonly found in business and economics;
To understand the time series data models and their estimation by providing hands-on experience to the participants;
To understand the panel data models and their estimation by providing hands-on experience to the participants;
To understand the usage of econometrics in managerial decision making.