Introduction to Econometrics, 2nd Edition (Addison-Wesley Series in Economics) [Hardcover]

James H. Stock (Author), Mark W. Watson (Author)

Book Description

ISBN-10: 0321278879 | ISBN-13: 978-0321278876 | Publication Date: July 31, 2006 | Edition: 2nd

Designed for a first course in introductory econometrics, Introduction to Econometrics, reflects modern theory and practice, with interesting applications that motivate and match up with the theory to ensure students grasp the relevance of econometrics. Authors James H. Stock and Mark W. Watson integrate real-world questions and data into the development of the theory, with serious treatment of the substantive findings of the resulting empirical analysis.

Editorial Reviews

From the Back Cover

Introduction to Econometrics JAMES H. STOCK (Harvard University) & MARK W. WATSON (Princeton University)

“Econometrics opens a window on our complicated world that lets us see the relationship on which people, businesses, and governments base their decisions.” —From the Preface

In this new textbook by distinguished econometricians James H. Stock and Mark W. Watson, real-world questions and data from actual empirical studies “open a window” through which the vitality and relevance of econometrics come into clear focus. The breadth of topics - including an introduction to program evaluation, panel data methods, instrumental variables regression, and regression with time series data - reflects the best of contemporary applied econometrics.

REVIEWER PRAISE FOR INTRODUCTION TO ECONOMETRICS:

“Stock and Watson have managed to bridge the gap between statistical technique and economic interpretation in a clean, clear, and concise manner.” —Òscar Jordà, University of California Davis

“The quality of the presentation is excellent - clear and understandable...This is, in my opinion, the best treatment I have ever seen to motivate the usefulness and relevance of the tools presented.” —Pierre Perron, Boston University

“The authors are very effective in providing intuitive explanations, emphasizing conceptual approaches to technical material...Students who would be confused by mathematical derivations will come away with a more solid understanding of econometrics by reading this text.” —Robert McNown, University of Colorado, Boulder

“Introductory econometrics books often make the crucial mistake of using some trivial examples that do not illustrate real problems that empirical economists encounter. This book significantly improves upon its competition by using examples, developing them in detail, and using well-motivated and important econometric issues for this development.” —Mico Mrkaic, Duke University

--This text refers to an out of print or unavailable edition of this title.

Product Details

• Hardcover: 796 pages
• Publisher: Addison Wesley; 2nd edition (July 31, 2006)
• Language: English
• ISBN-10: 0321278879
• ISBN-13: 978-0321278876
• Product Dimensions: 9.2 x 7.6 x 1.4 inches
• Shipping Weight: 3 pounds (View shipping rates and policies)
• Average Customer Review: 3.6 out of 5 stars  See all reviews (23 customer reviews)
• Amazon Best Sellers Rank: #17,620 in Books (See Top 100 in Books)

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Customer Reviews

Most Helpful Customer Reviews

24 of 29 people found the following review helpful:

5.0 out of 5 stars THE BEST, March 30, 2004

By 

Sabad One - See all my reviews

This review is from: Introduction to Econometrics (The Addison-Wesley Series in Economics) (Hardcover)

This is a great textbook for undergraduate econometrics (some graduate students would also benefit from some chapters, like the one on Instrumental Variables, or Program Evaluation, or the chapters on Time Series & Forecasting). No wonder Mark Watson is one of the authors, since he is one of the best teachers I ever had. The book is clear, and it skips a lot of useless, obsolete stuff that most undergraduates have typically to go over just because everyone else has gone over it before. No time wasted with homoskedasticity, "fixed" regressors, Durbin-Watson. Everything is based on large-sample theory, the regressors are never assumed to be "nonstochastic", and homoskedasticity is treated as an exception (which is what happens in practice), not as a rule. There are nice, long empirical applications in each chapter, and some examples are dealt with in more chapters, so that you can see how new concepts are applied to the same problem, and how our understanding of the problem changes and improves with more refined tools. For more advanced students, mathematical appendixes (and a few chapters at the end) also provide reasonably accessible but relatively complex proofs. A great book.

8 of 10 people found the following review helpful:

3.0 out of 5 stars Lacking in key areas, October 16, 2006

By 

B. Chalaban - See all my reviews
(REAL NAME)   

This review is from: Introduction to Econometrics, 2nd Edition (Addison-Wesley Series in Economics) (Hardcover)

I found the book to be adequate in terms of how well-written it is, but lacking in many areas that keep it from getting anything higher than 3 stars.

My biggest gripe is that there are few examples. I really took this for granted, and didn't notice how important it was until they were taken out. In classes like math, you can easily get lost in all the notation in each formula. Examples are important because they show you how to use that formula in a real application. The book lacks examples, and this really makes it harder to understand what Stock and Watson are talkin about.

Another thing I'd like are answers to their problems. This is just useful so that you can check whether you are doing the problems at the end of the chapter right. Otherwise, you're completely clueless on how well you are doing.

8 of 10 people found the following review helpful:

4.0 out of 5 stars Like the curate's egg: good in parts, September 3, 2003

By A Customer

This review is from: Introduction to Econometrics (The Addison-Wesley Series in Economics) (Hardcover)

An uneven book. Some of the explanations are clear and the long applications can be quite interesting and useful. However, several times the authors do not give an explanation that would be intuitively easier to understand. It would also have been helpful to provide some simpler, even if artificial, examples in addition to the longer applications.

These can no doubt be fixed in a second edition. At present, the revised edition of Wooldridge or even the older Jack Johnston is more intuitively appealing, while Greene is more complete.