Experts will discuss the current economic situation at the 49th annual conference of the Indian Econometric Society at Patna University from January 9 to 11.
The three-day conference will have three levels — international, national and state — for deliberations.
Amarendra Mishra, the head of statistics department, Patna University, said: “Econometric is word derived from combination of three subjects — economics, mathematics and statistics. It is primarily a study of economy theories, mathematics symbols and statistical data.”
After 47 years, the conference is held in the state capital. The last annual conference of the Indian Econometric Society was held here was at AN Sinha Institute of Social Studies in 1966.
On January 9, the annual conference will be inaugurated at Wheeler Senate Hall where the chief guest will be renowned economist V.R. Panchamukhi, a former chairman of the Indian Council of Social Science Research (ICSSR). State law, planning and development minister Narendra Narayan Yadav will be the guest of honour while Patna University vice-chancellor Shambhu Nath Singh will preside over the function.
Mishra added that apart from many technical sessions and paper presentations one session would be on “current status of Bihar & planning”. During the session, experts will assess the growth parameters of Bihar economy with their views on various growth indicators of Bihar economy. Moreover, the experts will also give their recommendations on how Bihar can achieve better economy growth.
The Indian Econometric Society is one of the oldest and largest body of professional econometricians having more than 2,000 members across the country. The senior teacher at Patna University further said the main objectives of the society was to organise a conference on the issues of econometric at various colleges and universities so that the students and teachers get benefits about latest economical development.
Mishra said: “The conference will be a great advantage for students and teachers of the university.” Many experts such as Panchamukhi, Biswajit Chatterjee of Jadavpur University, who is also the conference president, and Sumit Mujumdar from University of Texas, Dallas (US) are going to participate at the conference.