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1. Introductory Econometrics: A Modern Approach by Jeffrey Wooldridge | |
list price: $124.95
our price: $119.95 (price subject to change: see help) Asin: 0324113641 Catlog: Book (2002-07-11) Publisher: South-Western College Pub Sales Rank: 36369 Average Customer Review: US | Canada | United Kingdom | Germany | France | Japan | |
Book Description Reviews (9)
Did the trick ... One minus of the book, is that it lacks detailed examples of some of the key concepts (which is defintiely a must when you are learning something new) .... the concepts are detailed enough but it is always helpful to have a real world example of the concept. Also, some of the chapters can induce learning overload and require intense concentration ... which I found to be quite annoying (as you do when you are a student). If the chapters were broken up a bit more, it would be a far easier read (see my recommendation below concerning an easier read). However, the appendices are most excellent for review of key prior mathmatical knowledge (probabilities,statistics, etc) ... but you will likely need to know your "stuff" before you attempt to read this book (which is logical really). If you are interested in econometrics but not so good with maths, I recommend purchasing Schaum's outlines: an introduction to mathematical economics by Edward T Dowling, as this is a most excellent, informative book with hundreds of worked through examples. Additionally, I have also recently read "Learning and practising econometrics" by William E Griffiths et al, and this is a far easier read than Woolridges book ... but maybe that is because I have already read Woolridges book (just a thought). At any rate whilst using this book, I passed my basic econometrics 200 level course, with a pleasing grade. So all in all, the book did do the trick! Good luck, Kristina
commment
Good but not enough.
a great introduction into econometrics
Excellent book |
2. Econometric Analysis of Cross Section and Panel Data by Jeffrey M. Wooldridge | |
list price: $78.00
our price: $78.00 (price subject to change: see help) Asin: 0262232197 Catlog: Book (2001-10-01) Publisher: The MIT Press Sales Rank: 39570 Average Customer Review: US | Canada | United Kingdom | Germany | France | Japan | |
Book Description Reviews (4)
Simply a great text..
Simply the best in its field.
Five stars just because of the other books.
A Gold Mine of Microeconometric Methods |
3. Econometric Analysis by William H. Greene, William H Greene | |
list price: $133.00
our price: $133.00 (price subject to change: see help) Asin: 0130661899 Catlog: Book (2002-08-22) Publisher: Prentice Hall Sales Rank: 20666 Average Customer Review: US | Canada | United Kingdom | Germany | France | Japan | |
Reviews (38)
Now, it has a competitor It is only a comprehensive book on Econometrics, more suitable for applied economists for a quick review. I do not like the author's style of presenting the proof before the theorem. This makes it difficult and confusing to follow. Before buying it, the customer should take a look at a more recent, well organized, great competitor, and better book both for practitioners and a more theoretical econometrists: Ruud, Arthur. An Introduction to Classical Econometric Theory.
An Indispensable Book for Applied Econometrics
Econometrics Analysis by William H. Greene
this book stinks
just so confusing |
4. Econometric Models and Economic Forecasts by Robert S Pindyck, Daniel L Rubinfeld | |
list price: $119.68
our price: $119.68 (price subject to change: see help) Asin: 0079132928 Catlog: Book (1997-07-01) Publisher: McGraw-Hill/Irwin Sales Rank: 125312 Average Customer Review: US | Canada | United Kingdom | Germany | France | Japan | |
Book Description Reviews (5)
Great equations, bad explanations
It's not that bad
Hardly readable
econometrics for the statistically literate
A very good starter's textbook. |
5. Essentials of Econometrics by Damodar N. Gujarati | |
list price: $120.35
our price: $120.35 (price subject to change: see help) Asin: 0075619350 Catlog: Book (1998) Publisher: McGraw-Hill/Irwin Sales Rank: 68760 Average Customer Review: US | Canada | United Kingdom | Germany | France | Japan | |
Reviews (5)
High on the How, Low on the Why
The best book our there for undergraduate classes.
Not bad, but not great!
Way too confusing
Essentials of econometrics- a professor's opinion Econometrics). However, I would certainly recommend it. ... Read more |
6. Return on Customer : The Revolutionary New Way to Maximize the Value of Your Business by DON PEPPERS, MARTHA ROGERS | |
list price: $24.95
our price: $16.47 (price subject to change: see help) Asin: 0385510306 Catlog: Book (2005-04-19) Publisher: Currency Sales Rank: 886569 US | Canada | United Kingdom | Germany | France | Japan | |
7. Introduction to Econometrics by James H. Stock, Mark W. Watson | |
list price: $122.60
our price: $122.60 (price subject to change: see help) Asin: 0201715953 Catlog: Book (2002-08-16) Publisher: Addison Wesley Sales Rank: 51834 Average Customer Review: US | Canada | United Kingdom | Germany | France | Japan | |
Reviews (6)
Good intro book, bad in time series
THE BEST
A very helpful and well written textbook
Like the curate's egg: good in parts 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.
hard to understand |
8. Using Econometrics: A Practical Guide (4th Edition) by A.H. Studenmund | |
list price: $122.60
our price: $122.60 (price subject to change: see help) Asin: 032106481X Catlog: Book (2000-07-24) Publisher: Addison Wesley Sales Rank: 4899 Average Customer Review: US | Canada | United Kingdom | Germany | France | Japan | |
Reviews (7)
Very understandable introduction to econometrics
Fulfil expectations
Good Starting Point for Econometrics For a good introductory book that does incorporate calculus, some proofs, etc., get Gujarati's "Basic Econometrics" (not to be confused with Gujarati's "Essentials of Econometrics"). If you're only going to have one introductory book, and you want a mathematical treatment, get Gujarati. If you want an introductory book without a mathematical treatment, get Studenmund.
Warning
A cookbook |
9. Applied Econometric Time Series, 2nd Edition by WalterEnders | |
list price: $89.95
our price: $89.95 (price subject to change: see help) Asin: 0471230650 Catlog: Book (2003-07-25) Publisher: Wiley Sales Rank: 142703 Average Customer Review: US | Canada | United Kingdom | Germany | France | Japan | |
Book Description This new edition reflects recent advances in time-series econometrics, such as out-of-sample forecasting techniques, non-linear time-series models, Monte Carlo analysis, and bootstrapping. Numerous examples from fields ranging from agricultural economics to transnational terrorism illustrate various techniques. ... Read more Reviews (8)
An Elementary Book
An understandable and fun introduction to time series
a good place to start
The Chiang of the time series
A Practical Book This is a good introductory book in time series. But, it has some practical aspects. For example, in Chapter 3, the yen/dollar exchange rate model is cited, indicating non-random walk behavior in this exchange market so that an efficient market hypothesis may not apply here. Then the business cycles are discussed. As the cycles in exchange markets are what some technical traders look for, an approach like this is valuable to working analysts. ... Read more |
10. Basic Econometrics w/Data Disk by Damodar N Gujarati | |
list price: $119.68
our price: $119.68 (price subject to change: see help) Asin: 0072478527 Catlog: Book (2002-03-18) Publisher: McGraw-Hill/Irwin Sales Rank: 77555 Average Customer Review: US | Canada | United Kingdom | Germany | France | Japan | |
Book Description Reviews (20)
confusing notation First, the layout is quite dense and does not provide much guidance as to the relative importance of results. It would be far more helpful for the presentation to reflect the logical buildup of an argument to its conclusion. Instead, although the verbal exposition is usually quite clear, the presentation is a jumble, with many relatively lengthy derivations placed in footnotes! This is bad pedagogigally, as it encourages the student to skip over what are useful (and often not too difficult)parts. Second, and worse, is the continued use of deviation notation (ie. expressing a random variable in terms of deviation from its expected value) throughout the book. For this reason alone, I would never recommend this textbook for any class (incidentally, can anyone think of another textbook that follows this bizarre notation)? This is because, for the student who wishes to work through all derivations (which I always encourage) it imposes extra time constraints and a need to flick back through the book to check how variables are defined. This is incredibly frustrating and demotivating, and puts many students off econometrics before they've even given it a fair try. Third, the book reveals what is (to my mind) an unhealthy preoccupation with estimation issues, as opposed to those of data quality. As people like Granger have consistently pointed out, the real issues in 21st century econometrics have to do with what sort of data we have, and what methods are most appropriate in different situations. Gujurati, partly reflecting its long-standing use, merely dwells on the iid specification. However, I should point out in its defence that this third defect is shared by most other introductory (and graduate) textbooks on econometrics. As stated above, I would never recommend this book, preferring instead Hill's "Introductory Econometrics" which both motivates the student and takes them through the steps and methods they will need to adopt in further econometric studies, and always provides a good reference when it omits proofs and other details.
BEST INTRODUCTION YOU CAN FIND Thank you,
Still the best
Excellent reference book
A good, but quite old, introduction to econometrics book |
11. Capitalism and Freedom by Milton Friedman | |
list price: $12.00
our price: $12.00 (price subject to change: see help) Asin: 0226264017 Catlog: Book (1982-09-15) Publisher: University of Chicago Press Sales Rank: 32895 Average Customer Review: US | Canada | United Kingdom | Germany | France | Japan | |
Book Description In the classic bestseller, Capitalism and Freedom, Milton Friedman presents his view of the proper role of competitive capitalism--the organization of economic activity through private enterprise operating in a free market--as both a device for achieving economic freedom and a necessary condition for political freedom. Beginning with a discussion of principles of a liberal society, Friedman applies them to such constantly pressing problems as monetary policy, discrimination, education, income distribution, welfare, and poverty. ... Read more"Milton Friedman is one of the nation's outstanding economists, distinguished for remarkable analytical powers and technical virtuosity. He is unfailingly enlightening, independent, courageous, penetrating, and above all, stimulating."-Henry Hazlitt, Newsweek "It is a rare professor who greatly alters the thinking of his professional colleagues. It's an even rarer one who helps transform the world. Friedman has done both."-Stephen Chapman, Chicago Tribune Reviews (62)
Highly Recommended!
Compelling and informative "Capitalism and Freedom" dispels the myths about capitalism that have become so prevalent in our society: that the free-market caused the depression (it was actually a tyrannical Federal Reserve), that socialism can be democratic, and others. Milton's prose is clear and the book is good for those who haven't majored in economics. He gives an unwavering defense of personal freedom and individual autonomy from a minimalist government perspective. This book is an important contribution to public discourse and although written about 40 years ago, still has relevance today. Friedman discusses public education, roads, minimum wage laws (which he calls, "the most anti-black law on the statute books," and rightfully so as you'll see if you read this book), as well as the how so-called "progressive" tax system and welfare actually hurt the poor. Friedman's other great contribution is "Free to Choose," which was written about 20 years ago and expounds on the ideas in "Capitalism and Freedom" in a bit more depth. But this is a good, short, concise book to start with that'll get you asking questions.
Important foundation text - should be studied and considered People often caricature Friedman to their own discredit. His arguments here are not simply that government is bad, but that using government is often a poor way to get at a desirable social end. He certainly does not need me to speak for him, but if you think he is for huge corporations and letting the poor without help to fend for themselves, you misunderstand him and should read this work carefully. Big corporations, he argues several places in this book, are the result of taxation schemes that encourage the retention and reinvestment of earnings that would otherwise have gone to the shareholders to reinvest as they see fit - in other enterprises, consumption, or charity (as well as in taxes). This is only one example among many of popular prejudices against Friedman that do him real injustice. The book is only a couple of hundred pages, is not hard to read, but does pay off the most dividends if you take your time reading it and consider what he has to say rather than jumping to conclusions without wrestling with your own thoughts (whether you agree with the author or not). It was written in 1962, so some of the context of the book will require some understanding on the part of the reader. It was a very different time than today. However, the arguments remain solid and strong to the benefit of anyone who will spend time thinking about why they agree or disagree with this Nobel Laureate. Oh, and he uses the word LIBERAL for his philosophy and explains the word in it classic sense rather than in the modern US re-definition of the word.
Capitalism and Freedom
Clearly Pro-American One cannot look at the United States alone and say "Look! Here is capitalism's glory! Here are millions of rich people!" We must also look at the rest of the world, of billions who are poor, of hundreds of millions who are starving. Then you could argue that the US's capitalism is better than other countries' capitalism. But how is this possible? Capitalism extends over the entire world, interconnected all countries. Yes, the US government has more regulations for the economy, but ultimately this is worthless because US corporations can transgress those regulations outside the country, where they truly operate. So, what gives Americans freedom? Money. We are wealthy, and others sacrifice their freedoms, hundreds of millions of under-minimum-wage workers living in dirt-poor conditinos, so that the great United States of America can be rich and free. ... Read more |
12. Analysis of Panel Data by Cheng Hsiao | |
list price: $29.99
our price: $29.99 (price subject to change: see help) Asin: 0521522714 Catlog: Book (2002-12-15) Publisher: Cambridge University Press Sales Rank: 180085 Average Customer Review: US | Canada | United Kingdom | Germany | France | Japan | |
Reviews (3)
Well worth getting the update It is especially timely that Hsiao has written an updated version of this classic. All the essential concepts from the first edition have been retained; in addition, the author does a very good job of providing coverage of the many advances which have been made in analysis of panel data since 1986. Of special note, in relation to the second edition, are the chapters on dynamic models (Ch. 4) and discrete response models (Ch. 7). These two areas have been particularly in need of an updated treatment, since a great deal of recent research has taken place into the properties of estimators in these situations. Hsiao's treatments of these are correct up to and including 2001, which provides a major service for researchers interested in these topics. An alternative book, by Badi Baltagi, exists. However, Hsiao's book is superior and should be purchased by all who wish to pursue modern empirical work.
A classic.
A book necessary for panel data analysis |
13. An Introduction to High-Frequency Finance by Michel M. Dacorogna, Ramazan Gençay, Ulrich A. Müller, Richard B. Olsen, Olivier V. Pictet | |
list price: $89.95
our price: $79.95 (price subject to change: see help) Asin: 0122796713 Catlog: Book (2001-05) Publisher: Academic Press Sales Rank: 120716 Average Customer Review: US | Canada | United Kingdom | Germany | France | Japan | |
Book Description
Reviews (3)
From the experts in the field
For the new millenium...that's what we need.
More Than An Introduction |
14. The Methods and Materials of Demography by David A. Swanson, Jacob S. Siegel | |
list price: $89.95
our price: $89.95 (price subject to change: see help) Asin: 0126419558 Catlog: Book (2004-03-17) Publisher: Academic Press Sales Rank: 141398 Average Customer Review: US | Canada | United Kingdom | Germany | France | Japan | |
Book Description
Reviews (3)
REVIEW OF THE 2ND EDITION
A REVIEW OF THE 2nd EDITION
All basic techniques in Demography - a bibile of demography |
15. Econometric Methods by JackJohnston, JohnDinardo | |
list price: $120.93
our price: $120.93 (price subject to change: see help) Asin: 0079131212 Catlog: Book (1996-10-01) Publisher: McGraw-Hill/Irwin Sales Rank: 255506 Average Customer Review: US | Canada | United Kingdom | Germany | France | Japan | |
Book Description Reviews (8)
excellent text!
The best econometrics book for first year graduate level
Incredibly Lucid
It is still good. Other reviewers have talked about its content, so I will express my opinion only. Its audience is primarily for undergraduate students taking the first course in Econometrics. For this audience, it is difficult to find a competitor, because the book has everything you need to run a regression in a very straighforward way. That's why sometimes the book gets dry. However, it's fair to say that it is perfectly feasible to learn from it. Yes, the matrix notation make the things difficult, but there is no other way if you want to learn well Econometrics. The sequence of tests are presented very well. Although overall the 4th. edition is better than the 3rd., I think the authors should have left the chapter on matrix in the body of the book and not in the appendix. I'd say that this book is even better than Greene, and the next book to be read is Ruud.
classical and new methods in econometrics The authors cover regression, correlation and least squares in Chapter 1, starting with the simplest linear regression involving a single regressor variable. This allows for an easy introduction to the basic concepts that provide the foundation for what is to come. Chapter 2 introduces the idea of using time as regressor variable. This is a natural lead-in to the more sophisticated time series models of later chapters. It presents important econometric concepts such as elasticity. It also provides some probability theory and time series theory. Multiple linear regression is then introduced in Chapter 3 along with the important concepts of partial correlation, the Gauss-Markov theorem and variable selection criteria. Also, parameter restrictions are considered in Chapter 3. Chapter 4 includes diagnostic checking of models and the trick of introducing dummy variables into the model to handle dichotomous and categorical variables. The material becomes more difficult and there is an increase in the mathematical sophistication in Chapter 5. More realistic econometric models enter the discussion and the techniques of maximum likelihood, generalized least squares and Lagrange Multipliers are needed. Instrumental variables are introduced to handle such problems as the error in variables model. The technique of two stage least squares is also introduced here. Basic time series ideas and theory were introduced in Chapter 2 but first really get exploited in Chapter 6 where the concepts of heteroscadasticity and autocorrelation are introduced. Formal univariate time domain analysis of time series including the ARIMA models and trending methods are covered in Chapter 7. More complications and advanced theory are in Chapter 8. In Chapter 9, the subject of simultaneous equations is introduced. Generalized Method of Moment methods are presented in Chapter 10 as a reasonable and simple estimation approach that is valid in large samples. Freedman, Navidi, Peters among others have pointed out that the estimators of standard error for parameters in many of the standard econometric methods depend on asymptotic theory and often are very poor for practical problem sizes. They have shown that bootstrap methods can provide much better estimates. It is therefore nice to see that these authors recognize the importance of these resampling methods They devote a full chapter to them. Chapter 11 "A Smorgasbord of Computationally Intensive Methods" covers such resampling techniques as permutation tests, the bootstrap ("nonparametric")and the parametric bootstrap and other computer-intensive methods such as nonparametric density estimation and regression. Other problems that are unique to econometrics are covered in Chapters 12 and 13. Also included are appendices on matrix algebra and basic statistics along with useful statistical tables. The book also includes a diskette with data examples in ASCII files. ... Read more |
16. Schaum's Outline of Statistics and Econometrics by DominickSalvatore, DerrickReagle | |
list price: $16.95
our price: $14.35 (price subject to change: see help) Asin: 0071348522 Catlog: Book (2001-10-23) Publisher: McGraw-Hill Sales Rank: 232867 Average Customer Review: US | Canada | United Kingdom | Germany | France | Japan | |
Book Description Reviews (1)
It got me through Econometrics |
17. Non-Linear Time Series Models in Empirical Finance by Philip Hans Franses, Dick van Dijk | |
list price: $32.99
our price: $32.99 (price subject to change: see help) Asin: 0521779650 Catlog: Book (2000-07-27) Publisher: Cambridge University Press Sales Rank: 143727 Average Customer Review: US | Canada | United Kingdom | Germany | France | Japan | |
Book Description Reviews (5)
nice coverage if non-linear time series
A Long-Awaited Update To Granger and Terasvirta's Book .
A Long Awaited Update To Granger and Temasvirta's Book
An excellent, up-to-date guide of finance non-linear models
A timely survey on an important area |
18. Regression Analysis of Count Data (Econometric Society Monographs) by A. Colin Cameron, Pravin K. Trivedi | |
list price: $31.99
our price: $31.99 (price subject to change: see help) Asin: 0521635675 Catlog: Book (1998-09-28) Publisher: Cambridge University Press Sales Rank: 150227 Average Customer Review: US | Canada | United Kingdom | Germany | France | Japan | |
Book Description Reviews (2)
authoritative and current treatment of count data The authors intent is for this book to be read by researchers, graduate students and practitioners in the many fields that make use of count data. Chapter 1 introduces count data, the Poisson distribution and the Poisson process and also shows how the Poisson process can be derived based on the assumption of independent and identically distributed exponential waiting times. It concludes with specification of regression models for counts and a number of practical examples where modeling count data would naturally arise. The importance of the integers is emphasized with the quote from Kronecker at the beginning of the chapter, "God made the integers, all the rest is the work of man." Chapter 2 provides an extensive treatment of model specification and estimation methods. The authors cover many approaches and provide excellent references to the literature. Generalized linear models provide one common approach in the statistics literature and these methods are well described in this chapter. Poisson regression is the main topic of Chapter 3 but the chapter goes on to discuss negative binomial models that handle overdispersion. An example of data on doctor's visits is used to illustrate the techniques. Statistical tests for overdispersion are also presented. A variety of other modeling techniques are also provided. More general models including mixture models are considered in Chapter 4. Chapter 5 looks at ways of evaluating potential models. Chapter 6 provides some real economic data from health services to illustrate the methods of the earlier chapters. Chapter 7 covers time series analysis for integer data. The authors provide information and literature that is not standard in a text on time series analysis but is applicable to count data. Subsequent chapters deal with more complexity including multivariate data,longitudinal data analysis and measurement error models. Important recent developments in bootstrap methods and Bayesian statistics are covered in the context of problems for which these methods have demonstrated their value. This is a great reference book for statisticians and econometricians interested in problems involving counting processes. It could also be used for a graduate school text on point process regression.
It is true! |
19. One Thousand Exercises in Probability by Geoffrey R. Grimmett, David R. Stirzaker | |
list price: $52.55
our price: $52.55 (price subject to change: see help) Asin: 0198572212 Catlog: Book (2001-08-01) Publisher: Oxford Press Sales Rank: 323352 Average Customer Review: US | Canada | United Kingdom | Germany | France | Japan | |
Reviews (3)
On balance, this is a great book The 2 previous reviewers took a widely different view of this book. I wanted to have a balanced approach to reviewing this book. I hope this helps. -- This book has exercises that cover a wide range of topics in probability. It starts from basic issues in probability and eventually covers topics like queueing, Monte Carlo (& Markov Chain Monte Carlo), Ito's lemma & financial option valuation, etc. Any one vaguely interested in probability realizes that the topics covered by Grimmett & Stirzaker are *hot topics* and very useful to those who want to try to get a sense of how important probability theory is in real life. I can't think of a comparable book that is so ambitious and covers so much useful ground in one place. [At least not one with answers to every question.] -- I am not personally familiar with Grimmett's work (I believe he is at Cambridge University). I am, however, familiar with Strizaker's work (he is at Oxford). I consider him to be one of the finest expositers of probability theory. Stirzaker's views on probability theory (which I read in a different work) is one of the most lucid and sensible I have ever come across. Anyone seriously interested in probability should try to get exposure to Stirzaker's thoughts on the matter. -- I believe this book is GREAT for self-study. One of the major problems I have with many math, science, engineering, and other technical books is that -- even very good books -- do not provide answers/solutions to the questions they pose. As someone who is very interested in self-study, I find a book like this one -- which has the answers/solutions to ALL of the questons -- to be extremely refreshing and welcomed. To address the prior criticism that this book does not contain a sufficient amount of detail in the solutions .... I would suggest that such a criticism is unfair. As I pointed out above (and most people know) it is very rare to have technical books like this where there are a great deal of interesting and useful exercises given plus answers/solutions to all of the questions posed. For 2 emminent Oxbridge dons to write such a book is even more exciting. In all fairness, Grimmett & Stirzaker wrote this book with the intent that it be used along with an appropriate probability textbook(s). Any one willing to take the time to look at the solutions given along with a companion text should be able to work out what went wrong (or right) with any question that the reader attempts to work out. In closing, I highly recommend this book to anyone who is interested in going from a novice level at probability to a point where you can approach and solve useful problems in probability.
Well worth the effort However it is clearly not the point of the set of books to provide If you kick off from the first chapter and attempt the problems This course is very rewarding.
Lots of answers, not many solutions |
20. Introduction to Econometrics by G. S.Maddala | |
list price: $92.30
our price: $92.30 (price subject to change: see help) Asin: 0471497282 Catlog: Book (2001-05-11) Publisher: John Wiley & Sons Sales Rank: 361643 Average Customer Review: US | Canada | United Kingdom | Germany | France | Japan | |
Book Description
'Maddala is an outstanding econometrician who has a deep understaning of the use and potential abuse of econometrics...' 'The strengths of the Maddala book are its simplicity, its accessibility and the large number of examples the book contains...' 'The second edition is well written and the chapters are focused and easy to follow from beginning to end. Maddala has an oustanding grasp of the issues, and the level of mathematics and statistics is appropriate as well.' ... Read more Reviews (3)
Give me Matrix Algebra! Unfortunately, his "Introduction to Econometrics," now in its third edition, is, at best, a mediocre principles textbook. While his explanations of crucial ideas, such as least squares methodology, heteroskedasticity, or autocorrelation, are concise and extremely clear, a student who wants a more rigorous mathematical introduction to econometrics will be searching for another book. Linear algebra, which makes a number of proofs and tests far simpler and less burdensome to follow than calculus, is resigned to pages in the dark recesses of the appendix. Although these incidentals are well written, they remain peripheral, when they should be the focus of any undergraduate econometrics textbook. To its credit, Maddala's text does an excellent job of explaining concepts and problems in plain English, which would do well to supplement a purely mathematical approach. The book is full of techniques and tricks that might be helpful to reduce problems of serial correlation and heteroskedasticity, and the later chapters do a very good job of introducing students to more advanced topics, such as panel data analysis and vector autoregression. Nevertheless, the book's treatment of time-series analysis is scattered and atrocious, and many students will find themselves searching for other texts especially for information on this area. For students who do not mind a bit of mathematical simplicity and would rather seek to grasp the general ideas behind linear regression and its difficulties, G.S. Maddala's "Introduction to Econometrics" should be a good read. Yet, for students who want to pursue their knowledge of econometrics further, this book will most likely not be very helpful. As many courses taught at an undergraduate level tend to vary on their level of rigor, it probably will not hurt to have this book, but it may not help.
Very good, but not for everyone I would have no reservation recommending this book to other readers. It is certainly better that Gujarati's 'Basic Econometrics.' However, I think Wooldridge's 'Introductory Econometrics' is a better choice for the beginner, especially in it's coverage of cross section and panel data and its abundance of examples. Unfortunately, since Maddala passed away before the third edition was completed the last three chapters, including the chapter on panel data, do not contain any exercises. To sum up: An excellent text overall, with some minor shortcomings.
Critical, good, but sometimes too advanced for beginners In sum, I think the book is sometimes too elementary to be used for advanced students, while it was too advanced to be used alone as an introductory textbook. I would recommend using/reading selected chapters (such as ch. 12 on model selection), which are accessible as well as dealing with topics not normally included in many textbooks. ... Read more |
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