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Krityanand UNESCO club Jamshedpur Internship On Applied Economics (Engineering economy)
Krityanand UNESCO Club, Jamshedpur is a non-government organization (NGO) established in 1992, Registered Under Societies Registration Act, 1860 and has consultative status with the Economic and Social Council of the United Nations.
Each summer, we welcome nearly 50 interns from India and around the world for a packed Programme of Internship, Research and Development as well as social activities. This year's Summer internship programmes run between 1st May 2019 – 31st July 2019, and are aimed at Post Graduate students. This is a fantastic opportunity for anyone interested in broadening their horizons and learning more about Applied Economics (Engineering Economics or Econometrics). During their time with us, each intern produces a supervised research project, chosen by themselves with guidance from Senior Research Associate. Purpose Krityanand UNESCO Club Jamshedpur invites applications for position of Academic Intern in the field of Applied Economics (Engineering Economics) Area from young and qualified personnel. Applied economics is the application of core theoretical economics and econometrics to answer questions in a wide range of fields. The Applied Economics Program prepares students for employment opportunities in the public and private sector and for further graduate study. This rigorous but flexible program includes core coursework in economic theory and quantitative methods and offers opportunities for specialized coursework and research fields. This is a course for non-economists. Students will learn the conceptual-empirical basis of economic reasoning and the quantitative methods essential to address important policy problems and debates of our day such as climate change and inequality. It can be viewed as an introduction to the distinctive way economists think and analyses problems. In this course, we encourage students to learn economics by doing economics. Students will gain hands-on experience to use real world data to understand economic questions.
Overview of the Program:
The Krityanand UNESCO Club is an institution of research and higher education dedicated to the study of development subjects. Krityanand UNESCO Club Jamshedpur invites applications for position of Academic Intern in the field of Applied Economics (Engineering Economics) Area from young and qualified personnel. Applied economics is the application of core theoretical economics and econometrics to answer questions in a wide range of fields. The Applied Economics Program prepares students for employment opportunities in the public and private sector and for further graduate study. This rigorous but flexible program includes core coursework in economic theory and quantitative methods and offers opportunities for specialized coursework and research fields. Objective Applied economics is the study of economics in world situations as opposed to the theory of economics. It is the application of economic principles and theories to real situations, and trying to predict the outcomes. An engineering economist draws upon the accumulated knowledge of engineering and economics to identify alternative uses of limited resources and to select the preferred course of action. Applied economics is the study of observing how theories work in practice. The discipline may be practiced at macroeconomic or microeconomic levels. ‘Macroeconomics’ refers the whole aggregate economy, while Microeconomics’ looks at economics at the individual consumer company level. Applied economics prevents making situations appear better or worse than they are. Applied economics can involve the use of econometrics and case studies.(Econometrics is the quantitative application of statistical and mathematical models using data to develop theories or test existing hypotheses in economics, and for forecasting future trends from historical data.) Who it’s for The Applied Economics concentration attracts diverse students of Engineering, Commerce and Management, Economics, Statistics, Mathematics, Students from departments other than Economics and the combined-studies degrees in Economics in UG/PG Courses.
CONCENTRATION: APPLIED ECONOMICS (ENGINEERING ECONOMY) (AE) The Concentration in Applied Economics (Engineering Economy) (AE) program is a series of two-months Internship on the principles of understand the core concepts in modern economics and be able to link them with real-world phenomena and techniques in modern era. The use of applied economics may first involve exploring economic theories to develop questions about a circumstance or situation, and then draw upon data resources and other frames of reference to form a plausible answer to that question. The idea is to establish a hypothetical outcome based on the going circumstances.
Internship On APPLIED ECONOMICS (ENGINEERING ECONOMICS)
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Research Themes The Krityanand UNESCO club Jamshedpur Internship on Applied Economics has a broad research base with specialisms across a range of different areas relating to micro and macroeconomics. We are particularly interested in working across these boundaries and have therefore organized our research output by two broad, interdisciplinary strands: Applied Economics and Econometrics (Mathematical Economics). Prerequisites: Students are expected to have basic knowledge in Economics, Mathematics, Applicants for this program should have completed courses in micro and macroeconomic theory at the intermediate level, basic statistics, calculus, and linear algebra. Applied Economics (Engineering Economics) Group
Internship
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Applied Economics
Theme Title and Code
Applied Economics - (AE01) AE01A: AE01B: AE01C: AE01D: AE01E: AE01F: AE01G: AE01H: AE01I: AE01J: AE01K:
Purpose of the Internship
Duration
This module aims to introduce the student to the main deterministic techniques that are used in economics and understand the core concepts in modern economics and be able to link them with real-world phenomena. . Develop data-handling and analytical skills that are transferable to other courses.
30/60/90 Days
Sub Topic Engineering Economics-diverse nature of economics and business in an applied setting Economic Growth Solow growth model and applications Present -Worth Condition Structural Analysis of Alternatives
International Flow of Capital and Goods Economic and political motives Probability Concepts For Economic Analysis Simulation in Economic Analysis
Overview of international Trade Adam Smith and Absolute Advantage Economic Development and the Environment
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Group 2: Econometrics Econometrics is the application of statistical methods to economic data in order to give empirical content to economic relationships. Econometrics means “economic measurement and the result of a certain outlook on the role of economics, consists of the application of mathematical statistics to economic data to lend empirical support to the models constructed by mathematical economics and to obtain numerical results.
Group
Internship
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Econometrics
Theme Title and Code
Purpose of the Internship
Duration
Econometrics is the field of economics that concerns the application of mathematical statistics and the tools of statistical inference to the empirical measurement of relationships postulated by economic theory.
30/60/90 Days
Sub-Theme Econometrics-
EA EB EC ED EF EG EH EI EJ EK EL EM
Econometrics And Its Methodology The Nature Of Regression Analysis Two-Variable Regression Model: The Problem Of Estimation Hypothesis Testing: The Test-Of-Significance Approach The "Zero" Null Hypothesis And The "2-T" Rule Of Thumb Regression Analysis And Analysis Of Variance Regression Through The Origin Multiple Regression Analysis: The Problem Of Estimation Econometric Modeling: Model Specification And Diagnostic Testing Nonlinear Regression Models Qualitative Response Regression Models Time Series Econometrics
Internship On APPLIED ECONOMICS (ENGINEERING ECONOMICS)
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Suggested Reading Methodology of Econometrics Econometric methodology proceeds along the following lines: 1. Statement of theory or hypothesis. 2. Specification of the mathematical model of the theory 3. Specification of the statistical, or econometric, model 4. Obtaining the data 5. Estimation of the parameters of the econometric model 6. Hypothesis testing 7. Forecasting or prediction 8. Using the model for control or policy purposes.
1. 2. 3. 4. 5. 6. 7. 8. 9.
Gupta, S.C. (2004), Fundamentals of Statistics. Himalaya Publishing House Pvt. Ltd. Gujarati, D (1998) - Basic Econometrics, 4th Edition, New York: McGraw Hill Johnston, J (1995) - Econometric Methods, 3rd Edition, New York: McGraw Hill. Arora & Arora (2019)-Comprehensive Statistical Methods, S Chand & Co Ltd Riggs Bedworth Randhawa.(2004)-Engineering Economics, 4th Edition, Tata McGraw-Hill Inc,India Gupta & Hira (2018), Operations Research, S Chand & Co Ltd. Sharma, J.K. (2013), Operation Research, 5th Edition, Macmillian Publishers India. Anderson, (2007), An Introduction to Management Science, 11th Edition, Thomson. Stewart, K. G. :(2005) “Introduction to Applied Econometrics,
Software for Econometrician „ E-views - essentially all basic stuff, easy to use „ PcGIVE - essentially all basic stuff, easy to use „ STATA - essentially all basic stuff, many programming codes can be downloaded from internet (http://ideas.repec.org/s/boc/bocode.html) Free software È Many partial packages È Most comprehensive probably JMulTi, Gretl, EasyReg, Matrixer
Dr. Mukesh Kumar Mishra, Secretary General, January 27, 2019
Krityanand UNESCO Club
Jamshedpur, India.
Jamshedpur Mob: 927950220 E-mail: knunesco@yahoo.com Internship On APPLIED ECONOMICS (ENGINEERING ECONOMICS)
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