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Introductory Econometrics: A Modern Approach (Upper Level Economics Titles), by Jeffrey M. Wooldridge
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Discover how empirical researchers today actually think about and apply econometric methods with the practical, professional approach in Wooldridge's INTRODUCTORY ECONOMETRICS: A MODERN APPROACH, 5E. Unlike traditional books on the subject, INTRODUCTORY ECONOMETRICS' unique presentation demonstrates how econometrics has moved beyond just a set of abstract tools to become a genuinely useful tool for answering questions in business, policy evaluation, and forecasting environments. Organized around the type of data being analyzed, the book uses a systematic approach that only introduces assumptions as they are needed, which makes the material easier to understand and ultimately leads to better econometric practices. Packed with timely, relevant applications, the text emphasizes incorporates close to 100 intriguing data sets in six formats and offers updates that reflect the latest emerging developments in the field.
- Sales Rank: #4524 in Books
- Brand: South-Western College Pub
- Published on: 2012-09-26
- Original language: English
- Number of items: 1
- Dimensions: 9.25" h x 7.50" w x 1.50" l, 3.30 pounds
- Binding: Hardcover
- 912 pages
Review
"It is the best book on applied econometrics on the market. Well written and "modern" in the sense that he devotes coverage to topics and techniques relevant to the current state of practice in econometrics."
"Hands down, the data analysis examples in the text and the practice problems are what I like most about the text. They are fantastic, and many of our Economics students list Econometrics as their favorite course because these problems allow them to apply economic reasoning to actual data."
About the Author
Jeffrey M. Wooldridge is a University Distinguished Professor of Economics at Michigan State University, where he has taught since 1991. From 1986 to 1991, he served as Assistant Professor of Economics at the Massachusetts Institute of Technology (MIT). Dr. Wooldridge has published more than three dozen articles in internationally recognized journals, as well as several chapters in well-respected books. He is also the author of ECONOMETRIC ANALYSIS OF CROSS SECTION AND PANEL DATA. His work has earned numerous awards, including the Alfred P. Sloan Research Fellowship, the Plura Scripsit award from Econometric Theory, the Sir Richard Stone prize from the Journal of Applied Econometrics, and three graduate teacher-of-the-year awards from MIT. A fellow of the Econometric Society and of the Journal of Econometrics, Dr. Wooldridge has been editor of the Journal of Business and Economic Statistics and econometrics co-editor of Economics Letters. He has also served on the editorial boards of the Journal of Econometrics and the Review of Economics and Statistics. Dr. Wooldridge received his B.A. with majors in computer science and economics from the University of California, Berkeley, and received his Ph.D. in economics from the University of California, San Diego.
Most helpful customer reviews
12 of 16 people found the following review helpful.
Very focused on regression. Comprehensive yet lacking clear expanations.
By Jaewoo Kim
If you are looking to utilize regression to analyze data, then this book should get a deep look.
Don't let the word "econometrics" fool you, this book is really almost all about regression.
It doesn't have anything to do with economics other than analyzing some economic data.
You will not learn, for example, supply/demand curve or MR/MC analysis.
The book is very comprehensive and has wonderful examples and practice problems. I really liked the practice problems EXCEPT that the book provides no answers to them. Bummer, because I would given this book 4 stars just for that.
So why only 3 stars? Minus one star for lack of answers to the great practice problems. Minus another star for fairly mediocre and often ambiguous explanations. The author seems to avoid making any concrete statements. For example, what does it mean for the X variables to have logs while the Y doesn't such as Y=b0+log(X)? It means for every PERCENTAGE change in X, it effects the Y (but not in percentage) in proportion to the b1. I couldn't find that explanation anywhere in the book. Instead, the author meanders and makes the reader make his/her own conclusions.
Overall, this is a very solid book that still has a lot of room for improvement.
Pros:
1)Focuses on regression, which is rightfully the most useful statistical method in econometrics and data analytics.
2)Awesome practice problems.
3)Downloadable data in SAS, R, and CSV formats.
Cons:
1)No answers to the awesome practice problems. How is the reader suppose to know his/her analysis of the regression is correct?
2)Mediocre and often vague explanations of the regression equation and output.
3 of 3 people found the following review helpful.
great
By tara
this is a great book for those who just steps into econometrics world. previous statistics, calculus and matrix knowledge would be a great help. but relevant contents appears in the appendix anyway. fast shipping
2 of 2 people found the following review helpful.
A very good introductory book for Econometrics
By Swapnil
This was the first book of Econometrics I referred and I really liked it. A very good option for anybody just beginning to venture into Econometrics.
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