INTRODUCTORY ECONOMETRICS: A MODERN APPROACH, 4e illustrates how empirical researchers think about and apply econometric methods in real-world practice. The text's unique approach reflects the fact that undergraduate econometrics has moved beyond just a set of abstract tools to being genuinely useful for answering questions in business, policy evaluation, and forecasting environments. The systematic approach, which reduces clutter by introducing assumptions only as they are needed, makes absorbing the material easier and leads to better econometric practices. Its unique organization separates topics by the kinds of data being analyzed, leading to an appreciation for the important issues that arise in drawing conclusions from the different kinds of data economists use. Packed with relevant applications, INTRODUCTORY ECONOMETRICS offers a wealth of interesting data sets that can be used to reproduce the examples in the text or as the starting point for original research projects.
Introductory Econometrics: A Modern Approach, 4th Edition
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"The most important strength of this text is its close connection (in terms of both style/structure and content) to the way empirical research is actually conducted. In particular, the emphasis on whether or not an estimated relationship can be considered causal is central to econometric practice today, and this book, unlike many others, makes that clear. The book is very comprehensive, with a wide range of topics that other introductory econometrics books do not always include but that are very common in research (e.g. panel data)."
"I use Wooldridge because it provides a nice balance of equations, examples, and well-written intuitive descriptions of econometrics. The text provides clarity, discussion, and analytic rigor, with chapter problems that are both paper and computer-based. The review of chapters in the Instructor's Guide is useful, especially as a guide in deciding how to pare down the topics to a reasonable size for one semester."
"One of the biggest strengths of this Wooldridge text is the way in which it brings together the majority of mainstream econometric models in an easy to understand and coherent manner that is suitable to a wide audience from undergraduates, graduates, and a reference text for applied economists."
"I use Wooldridge because it provides a nice balance of equations, examples, and well-written intuitive descriptions of econometrics. The text provides clarity, discussion, and analytic rigor, with chapter problems that are both paper and computer-based. The review of chapters in the Instructor's Guide is useful, especially as a guide in deciding how to pare down the topics to a reasonable size for one semester."
"One of the biggest strengths of this Wooldridge text is the way in which it brings together the majority of mainstream econometric models in an easy to understand and coherent manner that is suitable to a wide audience from undergraduates, graduates, and a reference text for applied economists."
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Most Helpful Customer Reviews
53 of 54 people found the following review helpful:
5.0 out of 5 stars
not a natural,
By not a natural "Bob Bickel" (huntington, west virginia United States) - See all my reviews (VINE VOICE)
This review is from: Introductory Econometrics: A Modern Approach (with Economic Applications, Data Sets, Student Solutions Manual Printed Access Card) (Hardcover)
I teach a first course in regression analysis to graduate students from a variety of disciplines. With rare exceptions, they take this course under duress, and their background in basic statistics is usually weak. This means that I use a lot of relatively simple examples, gradually becoming more complex as we move through the material. Functional redundancy -- saying the same thing in a variety of ways -- is also indispensable. Furthermore, I spend very little time on derivations, and try to begin doing simple problems with SPSS software by the second or third meeting.
Given this approach to fairly complex material, it is difficult to find a suitable textbook. For several years I used Gujarati's basic econometrics text and found it useful. Gujarati, however, takes a very long time to get to multiple regression, first covering the assumptions which apply to all applications of OLS regression and offering only simple regression equations for illustrative purposes. A primary virtue of Wooldridge's basic text is that he introduces substantively interesting problems -- those using more than one independent variable -- early on. The OLS assumptions and remedies for their violation are still given excellent coverage, but this is integrated effectively throughout the book. Wooldridge's text is a bit more difficult than Gujarati's, but it's not densely mathematical, focusing instead on practical problems. With a little guidance students acquire a very thorough grounding in regression analysis with Wooldridge's basic text. It covers a sufficiently broad range of topics, moreover, that I have found it valuable for self-instructional purposes. (If only it weren't so expensive.) Given the foregoing, I think it is worth noting that Wooldridge's more advanced text, Econometric Analysis of Cross-Section and Panel Data, is not written in the same spirit as his introductory text. Most readers who do not use econometrics every day will, I think, find it quite difficult, presupposing a good deal of mathematical preparation, including practiced facility in using matrix algebra.
13 of 14 people found the following review helpful:
5.0 out of 5 stars
Great for Self Study,
By Mango the Dog (Los Angeles) - See all my reviews
This review is from: Introductory Econometrics: A Modern Approach (with Economic Applications, Data Sets, Student Solutions Manual Printed Access Card) (Hardcover)
I bought this text so that I could understand/interpret results and methodology in empirical business research papers. Unlike most statistic-related books I've seen over the years, this text is actually clear and focuses on providing great explanations and examples rather than proofs and derivations. Thus, this book is a great choice for self study, and it's been a huge help thus far in my PhD program.
7 of 8 people found the following review helpful:
1.0 out of 5 stars
Too many typos!,
Amazon Verified Purchase(What's this?)
This review is from: Introductory Econometrics: A Modern Approach, 4th Edition (Kindle Edition)
I bought this book with the kindle edition. It was nice to get a book immediately, but in the book there are too many typos. Some typos which occured in very important sentences or formulae made me so confused.
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Inside This Book
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Key Phrases - Statistically Improbable Phrases (SIPs):
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pooling cross sections, fertility equation, classical linear model assumptions, regression from part, dynamically complete model, infinite distributed lag models, wage offer equation, conditional mean assumption, multiple exclusion restrictions, sequential exogeneity, average partial effect, fixed effects transformation, annual firm sales, ceteris paribus interpretation, zero sample average, testing exclusion restrictions, strict exogeneity assumption, homoskedasticity assumption, model from part, time series topics, many regression packages, usual inference procedures, estimated tradeoff, simple regression case, many econometrics packages Key Phrases - Capitalized Phrases (CAPs): (learn more)
Cengage Learning, All Rights Reserved, Computer Exercise, United States, Cross-Sectional Data, Advanced Topics, Further Issues, Advanced Panel Data Methods, Advanced Time Series Topics, Consumer Price Index, Economic Report of the President, Gauss-Markov Theorem, Puerto Rico, Simple Panel Data Methods, North Andover, Multiple Regression Analvsis, Hourly Wage Equation, Puerto Rican, World War, White House, North Carolina, Find Var, Empirical Project, Federal Reserve, Las Vegas Browse Sample Pages:
Front Cover | Table of Contents | First Pages | Index | Surprise Me!
pooling cross sections, fertility equation, classical linear model assumptions, regression from part, dynamically complete model, infinite distributed lag models, wage offer equation, conditional mean assumption, multiple exclusion restrictions, sequential exogeneity, average partial effect, fixed effects transformation, annual firm sales, ceteris paribus interpretation, zero sample average, testing exclusion restrictions, strict exogeneity assumption, homoskedasticity assumption, model from part, time series topics, many regression packages, usual inference procedures, estimated tradeoff, simple regression case, many econometrics packages Key Phrases - Capitalized Phrases (CAPs): (learn more)
Cengage Learning, All Rights Reserved, Computer Exercise, United States, Cross-Sectional Data, Advanced Topics, Further Issues, Advanced Panel Data Methods, Advanced Time Series Topics, Consumer Price Index, Economic Report of the President, Gauss-Markov Theorem, Puerto Rico, Simple Panel Data Methods, North Andover, Multiple Regression Analvsis, Hourly Wage Equation, Puerto Rican, World War, White House, North Carolina, Find Var, Empirical Project, Federal Reserve, Las Vegas Browse Sample Pages:
Front Cover | Table of Contents | First Pages | Index | Surprise Me!
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