The Department of Economics at the Central University of Odisha hosted a special lecture titled “Econometric Modelling: Bridging Theory and Data Analysis” on 27 March 2024 at the Department of Economics in Sunabeda. The esteemed speaker for the event was Prof. Pabitra Kumar Mishra, Head of the Department of Economic Studies at the Central University of Punjab.
The lecture commenced with warm wishes from the Hon’ble Vice-Chancellor, Prof. Chakradhar Tripathi, and the Registrar (I/c), Prof. N C Panda. Dr. Minati Sahoo, Head of the Department of Economics, welcomed attendees and introduced the distinguished guest and the topic of discussion.
Prof. Pabitra Kumar Mishra delved into the crucial role of econometrics in bridging the gap between theory and reality, emphasizing the disparity between laboratory-based theories and real-world scenarios. He underscored the significance of this field in translating theoretical frameworks into practical applications, advocating for a reevaluation of economic history. Drawing distinctions between positive and normative economics, he elucidated the evolving landscape of econometrics and its implications for solving contemporary societal challenges.
Furthermore, Prof. Mishra elucidated on the distinctions between econometrics, statistics, and mathematics, highlighting the transformative potential of econometric modelling in addressing real-world issues. He encouraged students to enhance their skills in utilizing various software tools to predict future trends and propose solutions to present and forthcoming challenges.
The session fostered an engaging exchange of ideas between the resource person and the participants, comprising faculty members, students, and research scholars from diverse departments. Dr. Biswajit Bhoi, Assistant Professor in the Department of Economics, conveyed the vote of thanks, expressing gratitude to all involved. Ms. Manisha Gupta, a Ph.D. Scholars in the Department of Economics adeptly compeered the entire session, ensuring its smooth conduct.
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