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Noun (National open university) Live 2019 POP Exam questions
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[QUOTE="Bracet, post: 3660, member: 477"] NATIONAL OPEN UNIVERSITY OF NIGERIA FACULTY OF SOCIAL SCIENCES DEPARTMENT OF ECONOMICS COURSE TITLE: APPLIED ECONOMETRICS I COURSE CODE: ECO 453 UNITS: 2 TIME ALLOWED: 2HOURS INSTRUCTION: ANSWER THREE (3) QUESTIONS. ALL QUESTIONS CARRY EQUAL MARKS. 1 MARK FOR CLARITY AND GOOD PRESENTATION. QUESTION ONE (a). Explain the concept of Applied Econometrics Research. (5.5 marks) (b). State and explain the basic stages of an Econometric research. (10 marks) (c). Write short notes on these three desirable properties of an estimator (i). Unbiasedness. (2.5marks) (ii). Efficiency. (2.5marks) (iii). Consistency. (2.5marks) TOTAL MARKS = 23 QUESTION TWO (a). Discuss clearly the properties of a good econometric model. (12 marks) (b). Clearly distinguish between economic research and econometric research. (6marks) (c). Attempt a critique of an econometric research. (5 marks) TOTAL MARKS = 23 QUESTION THREE (a) Explain the assumptions of the linear stochastic model based on the random term. (12 marks) (b) Discuss the assumptions of the linear stochastic model based on the explanatory variables. (6 marks) (c). What are the consequences of violation of the assumptions in (b)? (5 marks). TOTAK MARKS = 23 QUESTION FOUR (a) Distinguished clearly (with examples) between the following pair (i). Type 1 Error and Type II Error. (4 marks) (ii). Time series and panel data. (5 marks) (iii). Simple linear model and Multiple linear model. (4 marks) (b). What are the uses of random variable in a model? (10 marks) TOTAK MARKS = 23 QUESTION FIVE The following table includes income (X) and demand for cloth (Y) measured in arbitrary units of a consumer over 10years period Period 1 2 3 4 5 6 7 8 9 10 Y 6 7 8 10 8 9 10 9 11 10 X1 50 52 55 59 57 58 62 65 68 70 Estimate the food function Y = b0 + b1X1 + u and interpret the result. (15 marks) Compute the coefficient of determination (R-squared) and find the unexplained variation. (8 marks) TOTAK MARKS = 23 [/QUOTE]
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