Econometrics as an Academic Discipline in Higher Education: An Exploratory Study of the Need, Relevance and Significance

Econometrics is a young science. It developed during the twentieth century in the mid-1930’s, primarily after the World War II. Econometrics is the unification of statistical analysis, economic theory and mathematics. The history of econometrics can be traced to the use of statistical and mathematics analysis in economics. The most prominent contributions during the initial period can be seen in the works of Tinbergen and Frisch, and also that of Haavelmo in the 1940's through the mid 1950's. Right from the rudimentary application of statistics to economic data, like the use of laws of error through the development of least squares by Legendre, Laplace, and Gauss, the discipline of econometrics has later on witnessed the applied works done by Edge worth and Mitchell. A very significant mile stone in its evolution has been the work of Tinbergen, Frisch, and Haavelmo in their development of multiple regression and correlation analysis. They used these techniques to test different economic theories using time series data. In spite of the fact that some predictions based on econometric methodology might have gone wrong, the sound scientific nature of the discipline cannot be ignored by anyone. This is reflected in the economic rationale underlying any econometric model, statistical and mathematical reasoning for the various inferences drawn etc. The relevance of econometrics as an academic discipline assumes high significance in the above context. Because of the inter-disciplinary nature of econometrics (which is a unification of Economics, Statistics and Mathematics), the subject can be taught at all these broad areas, not-withstanding the fact that most often Economics students alone are offered this subject as those of other disciplines might not have adequate Economics background to understand the subject. In fact, even for technical courses (like Engineering), business management courses (like MBA), professional accountancy courses etc. econometrics is quite relevant. More relevant is the case of research students of various social sciences, commerce and management. In the ongoing scenario of globalization and economic deregulation, there is the need to give added thrust to the academic discipline of econometrics in higher education, across various social science streams, commerce, management, professional accountancy etc. Accordingly, the analytical ability of the students can be sharpened and their ability to look into the socio-economic problems with a mathematical approach can be improved, and enabling them to derive scientific inferences and solutions to such problems. The utmost significance of hands-own practical training on the use of computer-based econometric packages, especially at the post-graduate and research levels need to be pointed out here. Mere learning of the econometric methodology or the underlying theories alone would not have much practical utility for the students in their future career, whether in academics, industry, or in practice This paper seeks to trace the historical development of econometrics and study the current status of econometrics as an academic discipline in higher education. Besides, the paper looks into the problems faced by the teachers in teaching econometrics, and those of students in learning the subject including effective application of the methodology in real life situations. Accordingly, the paper offers some meaningful suggestions for effective teaching of econometrics in higher education

Human Resources Development in Higher Education in Kerala

The study is entitled “HUMAN RESOURCES DEVELOPMENT IN HIGHER EDUCATION IN KERALA”. The concept “Human Resource Development” is of high value in business and industry and has been used and applied since years. In industry and business the 'human' element is considred as a resource and hence its development and protection is very essential and inevitable. Of all the factors of production, human resource is the only factor having rational faculty and therefore, it must be handled with utmost care. Right recruitment, right training and right induction followed by faultless monitoring and welfare measures are but decisive factors in business and industry. Altogether there is a constant attention up on human factor there. But this is not a practice at all in education. So far there has not been any such measure of care and close watch and performance analysis of human resource on education front. This may be the main reason for lack of accountability in the sphere of education. The present study reveals the importance of introducing HRD practices in higher educational institutions in Kerala. In order to promise human capital formation through education, it is basic requirement. The higher educational institutions must follow the method of industry and commerce because education can be treated as an industry in service sector. There also we can follow the methods of right recruitment, right training and promotion, delegation, performance analysis and accountability checking of human resource. HRD is a powerful idea of transformation of human being into highly productive and contributing factor The HRD of students is the sum total of HRD of teachers. Reminding the primordial usage 'Yatha Raja Thadha Praja’ the quality of faculty resembles in students. The quality of administrative staff in colleges also affects the quality of higher education. Hence, it is high time to introduce the managerial method of HRD with all its paraphernalia in higher educational institutions so as to assure proper human capital formation in higher education in India.

Human Resources Development in Higher Education in Kerala

The study is entitled “HUMAN RESOURCES DEVELOPMENT IN HIGHER EDUCATION IN KERALA”. The concept “Human Resource Development” is of high value in business and industry and has been used and applied since years. In industry and business the ‘human’ element is considred as a resource and hence its development and protection is very essential and inevitable. Of all the factors of production, human resource is the only factor having rational faculty and therefore, it must be handled with utmost care. Right recruitment, right training and right induction followed by faultless monitoring and welfare measures are but decisive factors in business and industiy. Altogether there is a constant attention up on human factor there. But this is not a practice at all in education. So far there has not been any such measure of care and close watch and performance analysis of human resource on education front. This may be the main reason for lack of accountability in the sphere of education. The present study reveals the importance of introducing HRD practices in higher educational institutions in Kerala. In order to promise human capital formation through education, it is basic requirement. The higher educational institutions must follow the method of industry and commerce because education can be treated as an industry in service sector. There also we can follow the methods of right recruitment, right training and promotion, delegation, performance analysis and accountability checking of human resource. HRD is a powerful idea of transformation of human being into highly productive and contributing factor The HRD of students is the sum total of HRD of teachers. Reminding the primordial usage ‘Yatha Raja Thadha Praja’ the quality of faculty resembles in students. The quality of administrative staff in colleges also affects the quality of higher education. Hence, it is high time to introduce the managerial method of HRD with all its paraphernalia in higher educational institutions so as to assure proper human capital formation in higher education in India.

Judicial Review of Academic Decisions

This thesis entitled “Judicial review of academic decisions.Education in India is being increasingly controlled and guided by the courts.This study makes an attempt to assess the involvement of the court in regulating education and its role or interference in the conventional concepts of ‘academic freedom’ and ‘university autonomy.The study mostly concentrates on the jurisdiction under Article 226 of the Constitution and its invocation in academic matters with particular reference to the decisions of the Kerala High Court.The concept of judicial review in the Constituent Assembly, initial approach of the Supreme Court of India towards the doctrine, gradual empowerment of Indian judiciary in this area and the resultant judicial activism.The study proceeds through the analysis of ‘academic freedom’ and ‘university autonomy’ in the 4"‘ chapter. This chapter attempts to probe academic freedom and university autonomy in India,England and United States and autonomy of Indian universities before and after independence.Basic principles and the jurisdictional parameters of judicial review in the area of academic decisions, as pronounced by the Apex Court, can be convincingly and consistently followed by the High Courts, which is possible only if special Academic Benches are constituted.

Role of academic bodies with special references to the academic programmes in the universities in Kerala

This makes a thorough study of Role of Academic Bodies with Special Reference to the Academic Programmes in the Universities in Kerala. The present study has dealt with the constitution, powers and functions of the authorities of the universities in Kerala, especially the academic bodies which have well-defined powers and function. This thesis gives in detail the role and functions of the academic bodies in the four universities in Kerala, under study: and examines the role-effectiveness of these bodies. To sum up, it can be concluded that the academic bodies in the universities in Kerala do not function as effectively as envisaged in the laws of the universities. They have a maintenance-oriented approach rather than a dynamic one, without thinking in terms of introducing innovations. They need improvement in the various aspects of their constitution, selection of members and their mode of functioning

Vocational Higher Secondary Education in Kerala: A Status Study of Students, Pass Outs and Training Components

This study analyses the socio-economic backgrounds and entrepreneurial profiles of the students and pass outs of the Vocational Higher Secondary Education in Kerala and the academic achievements of the Vocational Higher Secondary students and pass outs in Kerala in terms of their performance in the examinations. The study also analyses the quality and availability of the various training and support facilities of the Vocational Higher Secondary Schools in Kerala, nature and rate of employment and higher studies among the pass outs of the Vocational Higher Secondary Education in Kerala and the awareness of students, pass outs, teachers and principals regarding the goals and objectives, mode of implementation, apprenticeship training and higher study and employment opportunities of the programme of the Vocational Higher Secondary Education in Kerala.

Changing Role of Academic Libraries in the E-learning Environment: Issues and Challenges

The development of computer and network technology is changing the education scenario and transforming the teaching and learning process from the traditional physical environment to the digital environment. It is now possible to access vast amount of information online and enable one to one communication without the confines of place or time. While E-learning and teaching is unlikely to replace face-to-face training and education it is becoming an additional delivery method, providing new learning opportunities to many users. It is also causing an impact on library services as the increased use of ICT and web based learning technologies have paved the way for providing new ICT based services and resources to the users. Online learning has a crucial role in user education, information literacy programmes and in training the library professionals. It can help students become active learners, and libraries will have to play a greater role in this process of transformation. The significance of libraries within an institution has improved due to the fact that academic libraries and information services are now responsible for e-learning within their organization.

Professional Development of Academic Library Professionals in Kerala

The paper aims to bring out the problems and prospects of the professional development opportunities of academic library professionals in the Universities in Kerala. The study is a part of research undertaken to survey the professional development activities and educational needs of library professionals in the major Universities of Kerala because of the developments in Information communication technology. The study recommends methods for improving the knowledge/skills of library professionals. The aim of the study is to evaluate the professional development activities of Library professionals and their attitude towards continuing education programmes. In order to achieve the objectives of the study a survey was conducted with the help of structured questionnaires distributed to 203 library professionals in seven major universities in Kerala, (South India) of which 185 questionnaires were returned. Results of the analysis show that majority of the professionals have pursued higher degrees in library science or IT allied courses after entering the profession, and that they have a positive attitude towards participation in training programmes and workshops. The results show that developments in ICT have a positive influence on majority of library professionals‘ attitude towards continuing education programmes.