Customer Reviews

Introductory Econometrics: A Modern Approach (with Economic Applications, Data Sets, Student Solutions Manual Printed Access Card)

5 star:		(9)
4 star:		(2)
3 star:		(0)
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1 star:		(1)

 

 

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.

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.

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.

I have come across many introductory econometrics books, both in my native language(Greek) and English;however,not one was as clearly structured and helpfully outlined as this excellent textbook!When you are not a math whiz and not too comfortable with abstract explanations of concepts such as heteroscedasticity,unbiasedness etc,and desperately in need of a step-by-step introductory approach,this is the book for you.Compared to Stock and Watson,this book renders the aforementioned one almost useless,as heavy as this word might sound! The main reason behind the success of this textbook is its organization by sections of data(cross-sectional,time-series etc).Its examples simple but not mundane and the solutions to the exercises available upon registration(Stock and Watson do not even offer students the opportunity to pay for access to solutions!!!).To cut a long story short,if you want a no-nonsense introductory econmetrics textbook or if you are desperate with other textbooks you have encountered until this moment,do not hesitate:this investment will most definitely pay you back and then some!!!

Petros,former economics student,Greece

I am a first year PhD student in health policy and just started reading the book and now I am half way done with it. Seems to me that the book is not for just skimming through. One needs to read through it and get back to it when s/he tries to fit a regression model of his or her own. The book is precise and comprehensive and I would say flawless. I hope , when I am done reading it, I will keep it as my core econometrics reference.

A true masterpiece in the field of econometrics. It has placed within an updated context the scattered variables taught in econmetrics years ago, simplifying the use of tables and formulas.As one reviewer puts it succinctly, "The main reason behind the success of this textbook is its organization by sections of data(cross-sectional,time-series etc).Its examples simple but not mundane and the solutions to the exercises available upon registration". I couldnt agree more!

Everything was good with the book. Except for a few notes in it but otherwise than that it is fine. I would buy more books from this seller

Recently completed a 10-week / 2-credit graduate-level course where we used this textbook for 80% of the course work. I believe they used up the entire Greek alphabet! I have read dozens of text books and this one is definitely above-average; it may be in the top quartile.

It is strange how economists talk about econometrics when they mean statistics and regression - as if they invented the field. This book is an excellent textbook on introductory regression analysis with a focus on application rather than mathematical proof. It can be put to good use by practicing social scientists, be they economists, sociologists, management scholars, etc.

If you are an economist you are likely to have access to time series data, which normally require more complicated analysis. This book touches on time series, but if that is your data structure you will need a second book as well (e.g. Econometric Analysis of Cross Section and Panel Data).

However, if you are any other type of social scientist, chances are very high that you would find the current book sufficient. You might also want to add Cohen et al's Applied Multiple Regression/Correlation Analysis for the Behavioral Sciences, Third Edition. The two books cover pretty much similar ground, but exist within two very different academic silos. If you buy both books you will have a good basis to stand on.

I'm a student at osu majoring in actuarial science and economics (actuarial science is a math finance thing... i get this question a lot) and so I have read through several math, statistics and econ texts. This is by far the best one i have ever come across. This is my one and only review on amazon and i am only writing it because i feel so compelled to tell you guys about it and express my over exuberance for finding a good math book. The price is ridiculous and so i suggest you try to find a used copy or an international edition (which may or may not be legal). Anyhow hopefully the author occasionally checks his amazon reviews of his book and if he does i hope this inspires you to write more math books.