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**MECE-1 Solved Assignment English Medium ****2023-24 for July 2023 and January 2024 Session**

**MECE-001: ECONOMETRIC METHODS**

**Tutor Marked Assignment (TMA)**

**Course Code: MECE-001**

**Assignment Code: MECE-001/AST/2023-24**

**Maximum Marks: 100**

*Note: Answer all the questions.*

*Section A*

*Answer the following questions in about 700 words each. The word limits do not apply in case of numerical questions. Each question carries 20 marks.*

*1. Consider the following data:*

*(a) Estimate the regression model: **, where u a stochastic error term with classical assumptions.*

*(b) Find out the percentage variation in Y that is explained by X.*

*Ans –**Estimating the Regression Model:*

* 2. **Explain why an error term is added to the regression model. What assumptions are made about the error term? What are the implications of such assumptions? What will happen to the estimators of the parameters of the regression model, if these assumptions are violated?*

*Section B*

*Answer the following questions in about 400 words each. Each question carries 12 marks.*

*3. What is meant by autocorrelation? Explain one of the remedial measures for the problem of heteroscedasticity.*

* 4. **What is meant by identification problem in a simultaneous equation system? How do you decide whether an equation is identified?*

* 5. **What is meant by dummy variable model? Illustrate how dummy variable is used in logit model. How do you interpret the parameters of logit model?*

* 6. **Describe how a distributed lag model is specified and estimated.*

* 7. **Write short notes on the following:*

* (a) Best Linear Unbiased Estimator*

* (b) Reduced form of a Simultaneous Equation System*

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