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

Biogeochemistry of trace metals in the Indian EEZ of the Arabian Sea and Bay of Bengal

The present study has been initiated to unravel the distribution of trace metals and its geochemical behavior in the Indian EEZ of the Arabian Sea and Bay of Bengal. Trace metal accumulation in aquatic consumers is of interest to ecologists and environmentalists so as to understand the fate and effect of contaminants in the food web dynamics and the biogeochemical cycling of trace metals. It is well established that oceanic distribution of macronutrients such as nitrate, phosphate and silicate provide critical to biological growth and related geochemical processes. In this study it can be inferred, that there is a need for a better understanding of background informations on trace metal concentrations with respect to space and time and their fluctuations in the Arabian Sea and Bay of Bengal zooplankton. Without a sound knowledge on spatio-temporal fluctuations, it will be impossible to differentiate anthropogenic metal inputs from natural background concentrations with a routine biomonitoring programme. Fe, Cu, Zn, Cd & Pb showed a slight enrichment in zooplankton from the Arabian Sea during spring intermonsoon compared to intermonsoon fall. The relative enrichment of Fe, Cu & Zn in zooplankton from the Arabian Sea during intermonsoon spring than intermonsoon fall was due to favourable bioaccumulation factors of these elements during this season. Nevertheless this study can be looked upon as a starting point for further investigations on these biogeochemically important processes, which are vital in addressing the dynamics of productivity of waters.

E-marketing motivators,inhibitors and critical success factors: A study of small and medium tourism enterprises (SMTES) in Mauritius and Andaman islands, India

Information and Communication Technologies (ICTs) have a dramatic impact on the tourism industry because they force this sector as a whole to rethink the way in which it organises its business . In the light of such rethinking within the tourism industry, this study has focussed on the Small and Medium Tourism Enterprises (SMTEs) in two island destinations, namely Mauritius and Andaman Islands, India.Suggestions. The findings conceming SMTEs in Mauritius and Andaman Islands have been compared to make some destination-specific inferences. The relevance of the findings has been discussed with reference to the SMTEs in the two destinations as well as the possible acceptability in other comparable settings. Suggestions have been made for further research in SMTEs’ use of the Internet for marketing function.

Studies on Riverine Fishing Gears of Central Kerala

The overall focus of the thesis involves Studies on the riverine fishing geara of central kerala.Rivers and reservoirs of India harbour a rich and varied spectrum of fishes exceeding 400 species, which include commercially important fishes.The fish and fisheries play a crucial role in kerala's economy,employment generation ,food security and well being of its people.In the present study ,results of investigations conducted during 2001-2002 on riverine fishing gears of central kerala are presented along with detailed description of fishing gears,their distribution and operation covering aspects of selectivity and operational economics.Chapter I gives an introduction to the topiC of the study highlighting the relevance of the study and reviews of the existing literature on fishing gears and practices in riverine sector and sets out objectives of the study.The chapter 11 deals with the Materials and Methods used for the conduct of the investigations. In this chapter the area and the rivers selected for the study. reasons for the selection process and methodologies used for survey of riverine fishing gaear and investigations on design, structure and operation of different gear systems are presented.The chapter III discusses gillnet and its operation. Gill netting is one of the simplest and oldest methods of fishing. They are the most widely operated fishing gear in the rivers of Central Kerala. Gill netting being a low cost fishing method is of special interest for artisanal fisheries. Twenty different types of gillnets are operated in this sector.Chapter IV deals with cast nets. The origin and evolution of cast net has been briefly described in the introductory part.The chapter V deals with fishing lines, traps and other miscellaneous gears.This findings will be useful for riverine fishermen for deployment of appropriate gear systems during different seasons to ensure profitability of fishing operations.

‘Reliability Concepts in Quantile-based Analysis of Lifetime Data

Reliability analysis is a well established branch of statistics that deals with the statistical study of different aspects of lifetimes of a system of components. As we pointed out earlier that major part of the theory and applications in connection with reliability analysis were discussed based on the measures in terms of distribution function. In the beginning chapters of the thesis, we have described some attractive features of quantile functions and the relevance of its use in reliability analysis. Motivated by the works of Parzen (1979), Freimer et al. (1988) and Gilchrist (2000), who indicated the scope of quantile functions in reliability analysis and as a follow up of the systematic study in this connection by Nair and Sankaran (2009), in the present work we tried to extend their ideas to develop necessary theoretical framework for lifetime data analysis. In Chapter 1, we have given the relevance and scope of the study and a brief outline of the work we have carried out. Chapter 2 of this thesis is devoted to the presentation of various concepts and their brief reviews, which were useful for the discussions in the subsequent chapters .In the introduction of Chapter 4, we have pointed out the role of ageing concepts in reliability analysis and in identifying life distributions .In Chapter 6, we have studied the first two L-moments of residual life and their relevance in various applications of reliability analysis. We have shown that the first L-moment of residual function is equivalent to the vitality function, which have been widely discussed in the literature .In Chapter 7, we have defined percentile residual life in reversed time (RPRL) and derived its relationship with reversed hazard rate (RHR). We have discussed the characterization problem of RPRL and demonstrated with an example that the RPRL for given does not determine the distribution uniquely

Studies on the effect of selected metals on the productivity of two species of algae

The thesis embodies the results of a study on the variations in the parameters of productivity of two test species, a chlorophycean alga and a diatom. The chlorophycean alga Scenedesmus abundans was isolated from a fresh water pond whereas the diatom Nitzschia clausii was from the Cochin backwaters. Their growth parameters and their variations due to the effect of addition of some heavy metals have been studied. The growth parameters include biomass, production, respiration, photosynthetic pigments and end products of photosynthesis. The cell numbers were estimated by using a haemocytometer and production and respiration by oxygen light and dark technique. Spectrophotometric analysis for pigments, anthrone method for carbohydrate and heated biuret method for protein were the different methods employed in the present investigation. The present study is confined to nickel, cobalt, trivalent and hexavalent chromium. Different metals are discharged from various industries in and around Cochin. The effects of these metals individually and in combination are studied. Experiments to determine the effects of interaction of metals in combination enabled the assessment of the antagonistic and synergistic effect of metals on test species. The concentration or accumulation of metals on algae was determined by Atomic Absorption Spectrophotometry. The thesis has been divided into seven chapters. The introductory chapter explains the relevance of the present investigation. Chapter two presents the review of literature based on the work in relation to toxicity. Third chapter gives a detailed description of the material and specialized methods followed for the study. The effects of various metals selected for study - nickel, cobalt, trivalent and hexavalent chromium on the qualitative and quantitative aspects of productivity forms the subject of matter of the fourth chapter. The fifth chapter gives the impact of metals in combination on two species of algae. A general discussion and summary are included in the sixth and seventh chapters

Role of trace element of the growth and Physiology of selected microalgae

The main objective of the study is primarily to determine the magnitude of selected trace elements, the concentrations of which would possibly accelerate growth resulting in larger biomass and sustained period of exponential phase for economically viable harvest. The study on the effect of three trace elements namely Cu, Mn and Zn on two species of algae,ISOChrySiS galbana Parke and Synechocystib salina Wislouch under different conditions of salinity, PH and temperature involves several combinations for each metal, from which the relative set of conditions has been adduced. The scheme of the experiments was statistically designed for interpretation of data and factors were assessed and graded according to relative importance. The methodology adopted for data interpretation is analysis of variance by split-plot design method. The thesis has been divided into five chapters. The introductory chapter explains the relevance of the research work undertaken. Chapter 11 gives a review on the work pertaining to the above mentioned three trace elements in relation to nutrition as well as on the toxic aspects about which there is an abundance of literature. Chapter Ill presents a detailed description of the material and specialised methods followed for the study. The results and conclusions of the various experiments on effect of metals on growth and other physiological activities are discussed in Chapters IV and V.

Socio-Economic Survey of a Specific village

This thesis Entitled Socio-Economic Survey of a Specific village.For the purpose of analysis the thesis is divided into nine chapters. The first chapter introduces the subject of study and explains the significance of the study.It also provides the profile of the village. Chapter two deals with the different aspects of agriculture in the village.Chapter three discusses the problems of industrialisation in the Village. Chapter four is on village administration. It elaborates on the services rendered by government machinery in facilitating the development of agriculture and industry in the village.Chapter five explains the ways and means of marketing of village produce, both industrial and agricultural origin. It also explains the relevance of intra village connections in facilitating marketing.Chapter seven provides information regarding the income and expenditure pattern of the village.Chapter eight is on village social life. It explains the social life of the villagers, including religious

A critical study of major construction projects in kerala vis-a-vis effectiveness in project implementation

Chapter 1 presents a brief note on the state at which the construction industry stands at present, bringing into focus the significance of the critical study. Relevance of the study, area of investigation and objectives of the study are outlined in this chapter. The 2nd chapter presents a review of the literature on the relevant areas. In the third chapter an analysis on time and cost overrun in construction highlighting the major factors responsible for it has been done. A couple of case studies to estimate loss to the nation on account of delay in construction have been presented in the chapter. The need for an appropriate estimate and a competent contractor has been emphasised for improving effectiveness in the project implementation. Certain useful equations and thoughts have been formulated on this area in this chapter that can be followed in State PWD and other Govt. organisations. Case studies on project implementation of major projects undertaken by Government sponsored/supported organizations in Kerala have been dealt with in Chapter 4. A detailed description of the project of Kerala Legislature Complex with a critical analysis has been given in this chapter. A detailed account of the investigations carried out on the construction of International Stadium, a sports project of Greater Cochin Development Authority is included here. The project details of Cochin International Airport at Nedumbassery, its promoters and contractors are also discussed in Chapter 4. Various aspects of implementation which led the above projects successful have been discussed in chapter 5. The data collected were analysed through discussion and perceptions to arrive at certain conclusions. The emergence of front-loaded contract and its impact on economics of the project execution are dealt with in this chapter. Analysis of delays in respect of the various project narrated in chapter 3 has been done here. The root causes of the project time and overrun and its remedial measures are also enlisted in this chapter. Study of cost and time overrun of any construction project IS a part of construction management. Under the present environment of heavy investment on construction activities in India, the consequences of mismanagement many a time lead to excessive expenditure which are not be avoidable. Cost consciousness, therefore has to be keener than ever before. Optimization in investment can be achieved by improved dynamism in construction management. The successful completion of coristruction projects within the specified programme, optimizing three major attributes of the process - quality, schedule and costs - has become the most valuable and challenging task for the engineer - managers to perform. So, the various aspects of construction management such as cost control, schedule control, quality assurance, management techniques etc. have also been discussed in this fifth chapter. Chapter 6 summarises the conclusions drawn from the above criticalr1 of rhajor construction projects in Kerala.

Value orientation of professional students in kerala

The present study is on value orientation of professional students•and as such the theoretical value is inherent and implied. Variation on this value is likely to be limited among the subjects. The relevance of the present study is with particular reference, to management as a profession. In organisational settings motivation plays an important role. According to McClelland's theory of needs, achievement, power, and affiliation are the three important needs that help in understanding motivation. Achieve~ent need may be defined as the drive to excel, to achieve in relation to a set of standards, and to strive to succeed. Some people have a compelling drive to succeed. They have a desire to do something better or more efficiently than it has been done before. McClelland found that high achievers differentiate themselves from others by their desire to do things . better. Considering this fact, 'achievement' is included as one of the values for the study

A Data Mining Approach for the Identification of Adverse Drug Events (ADE) resulting from Drug-Drug Interactions (DDI) to improve pharmacovigilance

In the current study, epidemiology study is done by means of literature survey in groups identified to be at higher potential for DDIs as well as in other cases to explore patterns of DDIs and the factors affecting them. The structure of the FDA Adverse Event Reporting System (FAERS) database is studied and analyzed in detail to identify issues and challenges in data mining the drug-drug interactions. The necessary pre-processing algorithms are developed based on the analysis and the Apriori algorithm is modified to suit the process. Finally, the modules are integrated into a tool to identify DDIs. The results are compared using standard drug interaction database for validation. 31% of the associations obtained were identified to be new and the match with existing interactions was 69%. This match clearly indicates the validity of the methodology and its applicability to similar databases. Formulation of the results using the generic names expanded the relevance of the results to a global scale. The global applicability helps the health care professionals worldwide to observe caution during various stages of drug administration thus considerably enhancing pharmacovigilance

Developing a Theoretical Framework for a Study on the Impact of Advertising Credibility of Consumer Healthcare Products

The tough competition in the global and national markets and new trends in consumerism resulted in an increase in the volume of advertisements. Sometimes advertisers are successful in achieving their intended objectives with a particular advertisement and sometimes they are not .These factors contributed a lot towards the decision making problems of advertising agencies with regard to the selection of appropriate advertising strategies and tactics. The tough competition and large volume of advertising make the consumers confused and this even created doubts in the minds of consumers about the genuineness and reliability of manufacturers and products. These factors caused a query regarding the active role of credibility element in advertising. The proposed study examines the effects of advertising credibility in consumer health care non durable product advertising on communication effect, purchase behavior and ad skepticism. This paper examines the need for the study of advertising credibility and reviews the advertising- consumer behaviour- credibility – healthcare theories which form a basis for the study. It identifies the different components and dimensions of advertising credibility and the importance of communication effect, purchase behavior and ad skepticism. It also studies the relevance of credibility in the consumer healthcare products advertising and suggests a Theoretical Framework for the proposed study