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Customer Reviews (16)

Essential reading, though imperfect
The first thing I want to say is this: If you plan on doing regression analysis in your research, stop what you are doing, and read this book first.I think this book represents THE current statement on how we should use regression.For Angrist and Pischke, regression is a technology for summarizing data.If regression is to be used for causal inference, then there is nothing in the specification of the model or the choice of estimator that can ultimately make the causal story persuasive.That is, you don't identify causal effects simply by including "control" variables in your regression. The identification comes from elsewhere---either a real or "quasi" experiment---and the regression is what you use to clean up the imperfections of the experiment and measure effects.Angrist and Pischke have done an enormous service to social science by writing a regression textbook that nonetheless emphasizes the primacy of design.This is a terrific corrective for the "101 flavors of regression" approach of textbooks to date.

Even with this emphasis on design, Angrist and Pischke show us that are a lot of nuances to the way that regressions measure such effects---e.g., in the presence of effect heterogeneity---and that's what this book explores in exquisite detail.It's a hugely important book and a very serious and rigorous treatment, despite it's apparently causal style.They make some claims that may strike some as outrageous---e.g., always using OLS, even for limited dependent variables---but the rigor of their presentation means that the onus is on those who disagree to think harder about why, exactly, they would prefer, say, a more parametric approach.

Nonetheless, it isn't a "5 star" book. It often feels a bit rough-draft-like.The presentation of technical material skips important steps rather haphazardly. I wonder if this was due to bad editing?Hopefully there will be a second edition that cleans up these rough edges, in which case it would be the ideal textbook on regression analysis.

Good book, poor Kindle Edition
This is one of the best books on applied econometrics. Unfortunately, the Kindle edition is absolutely slopy, the math characters are weird and blurred. I wish amazon would have been more careful with this Kindle edition. Taking into account that I need this book for my daily job, it seems that I will have to pay for the printed edition since the math characters in the Kindle are barely readable.

Kindle edition
The book is very good. However, I have strong complaints about the Kindle edition: fonts of math characters are very bad. Math characters are not uniform, many of them are much bigger than the text characters but others have the same size as text characters which means that the problem is with a sloppy edition and not a consequence of bad software. Additionally, zooming only works for some of the math characters. I have many other books in pdf format in my Kindle and they work much much better than those I have in the Kindle format.

Learning everything all over again
This is a great book that I really wish had been written when I was first learning econometrics.It is probably best appreciated by someone who has already taken one or two econometrics classes and has had some exposure to applied econometrics research.If you haven't taken econometrics yet you will not really appreciate the 'paradigm shift' that they are trying to explain nor appreciate some of the humor and storytelling.But if you are like myself someone who first learned econometrics more than a decade ago you'll find yourself reading this book page by page with appreciation. I feel that it is helping me to develop a much more mature understanding of the field of applied micro econometrics (helping me to confirm hunches and general notions I already and also new gems of insight).There are many cookbooks that might explain the methods in more depth (e.g. Cameron and Trivedi Microeconometrics) but that's not the purpose of this book.It's purpose is to make you think more about 'research design' which is to say about the questions that you pose, and how you pose them, rather than the methods that you use to try to arrive at answers. For too long econometricians got lost in the details of methods without taking a step back to think about some really fundamental questions first.The book is filled with examples of both good and bad research and you'll be surprised at how bad some past very influential research looks in light of modern day paradigms.It's not that these earlier researchers didn't know enough math, it's that they used the math without clear enough purpose.

This book will make you a better economist and beyond that make you see the world around you slightly differently.You'll end up with a keener eye for all those natural experiments happening all around you. If you are an advanced undergraduate, MA or starting PhD student with any pretensions of becoming engaged in original applied economics research this book should be a "must have" on your bookshelf.

Easy to digest and convincing
This book is good for revising many fundamental economic concepts. Although, you may know them, but when you read it, you will understand them more. For me, I better start to understand about Selection-bias from this book. In addition, the style of the book's story is easy to follow. ... Read more

Product Description
This is the perfect (and essential) supplement for all econometrics classes--from a rigorous first undergraduate course, to a first master's, to a PhD course.

• Explains what is going on in textbooks full of proofs and formulas
  
• Offers intuition, skepticism, insights, humor, and practical advice (dos and don’ts)
  
• Contains new chapters that cover instrumental variables and computational considerations
  
• Includes additional information on GMM, nonparametrics, and an introduction to wavelets

... Read more

Customer Reviews (40)

College students NEED to buy this book
I'm a college student and recently got accepted in a master's degree in Economics.One of the problems I had regarding books about Econometrics is the lack of mathematical and economic concept discussions.Most of them are merely mathematical proofs without any clear explanation.On the other hand, this book discusses WHY econometricians need to watch out for violations of assumptions in the linear regressions, how to detect them, and finally, how to solve them.If you want mathematical proofs I suggest you pick another book but if you really want to understand the inner workings in Econometrics, buy this book.It saved me a lot of time and headaches.

A semi-technical history of 30 years of econometrics
Throughout the 1970's, big-name sociologists with impeccable methodological and statistical credentials sought to persuade the discipline's journeymen that they should learn econometrics.The two most influential proponents of this view were the social statistics luminaries Hubert Blalock and Otis Dudley Duncan.Blalock was more optimistic than Duncan with regard to the ultimate payoff, but Duncan was more arrogantly dismissive of those who failed to heed his admonition.

In response, sociology and related social science journals became much more densely quantitative.Many social scientists, as a result, felt as if they had been reduced to obslescence.After all, econometrics and the other new quantitative tools, especially path analysis, which had come to dominate the discipline were difficult topics under the best of circumstances, and most social scientists lacked the mathematical training to tackle the best known econometrics texts, such as those by Jack Johnston, Jan Kmenta, and Arthur Goldberger.Many social scientists had been introduced to the econometrics mainstay, regression analysis, but not in this highly technical form.

Fortunately, the decade of the '70's also saw publication of Damodar Gujarati's introductory econometrics text, as well as the first edition of Peter Kennedy's Guide to Econometrics.Gujarati's book presented much the same material as his more insistently mathematical colleagues, but in a much more accessible form.His book could actually be used for self-instructional purposes, enabling less methodologically astute social scientists to finally figure out what was going on.

Kennedy's book was a forest-for-the-trees antidote to the mathematically dense and detailed texts, a book that enabled social scientists and other readers to identify topics that were of central importance and those that were ancillary details.

As with Gujarati, Kennedy wrote in accessible language and provided motivated readers with an overview of econometrics, enabling them to see what all the fuss was about.By including general notes and technical notes at the end of each chapter, Kennedy assured that his book was of value not not only to those of us who were less mathematically favored, but to those for whom use of econometrics was an everyday activity, one they had pretty well mastered.

In additon, while the first edition of Kennedy's book ran 175 pages, the most recent (sixth) edition is a full 575 pages.This reflects the fact that, while the book continues to provide an accessible overview of econometrics, it is also a comprehensive catalogue of regression analysis correctives.Kennedy explicitly acknowledges that his objective is to compile an accessible repository of the rapidly growing list of tests and procedures available to make regression analysis more generally applicable and informative.Anyone interested in the history of econometrics over the past thirty years would do well to begin with Kenndy's book.

Even for those of us for whom this stuff does not come easily, Kennedy's text is an invaluable reference.For the newcomer, it remains a fine overview of econometrics and a useful adjunct to any basic text.When the seventh edition comes out, it will be interesing to see what Kennedy makes of the near-obsessive concern with instrumental variable methods of causal analysis as presented, for example, in Angrist and Pischke's Mostly Harmless Econometrics.

Easy to understand Econometrics text
This text is a good compliment to any econometrics text. Kennedy summarizes (in bullet points) the methods of econometrics with intuitive explanations. The author also references some of the major articles where these techniques originate from for those looking for an in depth proof and more information.

Great item, delivery time exceptional
I recieved this item quickly and it was brand new no marks, no tears. I was very impressed.

A Must Have for Econometrics Students
I should have book earlier versions of this book.Kennedy's A Guide to Econometrics has been recommended to me by a few people for a few years now, but I only got myself a copy last year (2008) when the 6th edition came out.The author does a wonderful job explaining a lot of the econometrics concepts that may have been missed by standard econometrics texts.The reason may be that the format of the book is geared towards the practical application of econometrics and what the student would expect to encounter.Moreover, Kennedy sometimes has a "what people usually do" and "why that is wrong" type of discussion.Those are pretty helpful.

I think this should probably be a second text or a supplementary text to a more formal econometrics textbook, such as Greene or Hayashi for more advanced students or Gujarati or Maddala for undergraduates.In retrospect, I probably would have grasped a lot of the concepts sooner had I read Kennedy early on.As it stands now, I still benefitted quite a bit from reading Kennedy's text and it was a much easier read given that I didn't have to focus on any of the mathematical derivations as they are not new to me anymore. ... Read more

Product Description
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. ... Read more

Customer Reviews (8)

Simplifies econometrics!
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!

Woolridge-at last,a book with a structure that makes sense
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

Lets vote this one the most helpful review
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.

Great for Self Study
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.

Graduate School
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. ... Read more

Product Description

Econometric Analysisi, 6/e serves as a bridge between an introduction to the field of econometrics and the professional literature for  social scientists and other professionals in the field of social sciences, focusing on applied econometrics and theoretical background. This book provides a broad survey of the field of econometrics that allows the reader to move from here to practice in one or more specialized areas. At the same time, the reader will gain an appreciation of the common foundation of all the fields presented and use the tools they employ. This book gives space to a wide range of topics including basic econometrics, Classical, Bayesian, GMM, and Maximum likelihood, and gives special emphasis to new topics such a time series and panels. For social scientists and other professionals in the field who want a thorough introduction to applied econometrics that will prepare them for advanced study and practice in the field.

Customer Reviews (61)

They sell used book as new book! Lier!
I ordered this 'new book' and found out later that it has highlight somewhere in the middle of book.

Not for the statisticaly weak at heart.
I use this text as required for a PhD level course...however, I would recommend Peter Kennedy's Guide to Econometrics as a more chatty, descriptive companion to Greene.Kennedy fills in the gaps of intuition where Greene can be technical and assumptive that the reader was actually able to understand previous chapters.

It is ok for the down and dirty equation but is less informative of the why and how necessary to explain what is going on with your data set.

Bible of Econometrics
First of all, all who condemns Greene's wonderful theoretical&applied approach to econometrics should understand that nobody can accuse theory for their incompetence in the area. Econometrics, or even economics, is not a part of social science. And, all these stuff must be established upon a mathematical basis. Econometrics is kind of mathematics not kind of social science.
Having said this, no other text can teach what is going on except for Greene's Bible.
This text has been used as reference in hundreds of top papers. When I read it, I feel confidence with my mathematical intuition and thank him. You should keep this as your reference and bible, and all others as funny readings.
Yet, due to space it does not touch time-series or panel data which should be considered as different courses.
Typically, one should keep in mind that, there are linear models, discrete choice-LDV, time-series, and panel. Greene puts everything in one basket.
Thanks Greene.

book
Some complication as to what exactly was in the book. Took over 2 weeks to get it. The sellers seemed sympathetic.

Wonderfull job!
That's a great satisfaction! Good price and good delivered, even though i'm living in Brazil! ... Read more

Product Description
This best-selling textbook addresses the need for an introduction to econometrics specifically written for finance students.Key features: • Thoroughly revised and updated, including two new chapters on panel data and limited dependent variable models• Problem-solving approach assumes no prior knowledge of econometrics emphasising intuition rather than formulae, giving students the skills and confidence to estimate and interpret models • Detailed examples and case studies from finance show students how techniques are applied in real research • Sample instructions and output from the popular computer package EViews enable students to implement models themselves and understand how to interpret results • Gives advice on planning and executing a project in empirical finance, preparing students for using econometrics in practice• Covers important modern topics such as time-series forecasting, volatility modelling, switching models and simulation methods • Thoroughly class-tested in leading finance schools ... Read more

Customer Reviews (17)

This should be on your shelf
The best book I have on econometrics. I can not do without it when doing research with E-Views.

Un useful book for econometrics
It is a classical text for students in economy. The methods are given particullary in econometrics. The traditional arguments which we can read here are regression and correlation, but they are seen by a modern view.

Good service
I bought the book new so it was no surprise that it was in excellent condition but I had not realized beforehand that the delivery time was within one to almost three weeks from the date of purchase so I was a little impatient by the time I received it. A good experience overall but I wish it had been delivered within less time.

BIG lifesaver
I cant exactly review the whole book because I haven't read it all.....

but chapter 5 and 7.1 helped me tremendously in a financial econometrics subject.
What the lecturer covered in 6 weeks, chris brooks covers in 1 chapter and a little bit that's even greater detail. Definitions, examples, and can follow the discussion a lot easier by telling you exactly what you need to know that's not too simple yet not to detailed.
Especially since the assignment required us to complete ARIMA modelling in eviews, this book almost does it for you.
I must have a bad lecturer, because her notes were all over the place, no structure at all and the subject was made a lot harder than it really was.

I will get to reading more of the book very soon...but for now can only say good things about it

AAA Introduction!!!
I think this book is a terrific introduction to econometrics for Finance applications. I believe that Ph.D. students should take a two course sequence from more traditional econometrics texts - for example, Judge, Hill , Griffith. But an applied financial econometrics class from this text would be extremely valuable. I plan on teaching from it at the Master's level and have lent it to strong undergrads. I think an MS in Finance program would benefit from a mandatory course from this text. ... Read more

Product Description
- The updated and expanded second edition of the internationally bestselling guide to principles and practices for undergraduate business and economics students taking mandatory economics statistics courses.- Features four new sections--on nonparametric tests, the Logit Model, the Probit Model, and causality tests--complete with new models and tests used in financial econometrics, and a new chapter on time series econometrics- Over 100,000 students enrolled annually- Includes numerous examples, completely worked problems, supplementary problems, and two full-length self-examinations ... Read more

Customer Reviews (4)

Excellent supplement to Damodar Gujrati
As a student of Econometrics, I really liked the book by Damodar Gujrati though I feel that book has too few examples and is rather verbose. This book by Schaums could be an excellent supplement to Gujrati. The book covers basics for any student of Stats. Great price, nice examples.

What a surprise!
This is an extremely useful book for review or as an adjunct to a conventional, mathematically dense econometrics text.The author writes in a lucid style that makes difficult ideas easy to understand.He makes liberal use of informative graphs and tables, and he includes numerous examples to clarify the explanations.If I encountered an econometric concept or procedure that simply defied understanding, this book would be the first place I'd turn for clarification.The author is blessed with the gift of succinctness:he says a great deal of substantive importance using very few words, and the words he chooses are just the right ones to help the reader understand what's going on.

Best you can buy for the price
I am giving four star because its coverage is really not good. But i knew that when I was buying it so it really deserve four star.
It is good if you want to remember things but its almost useless for graduate level. There are lots of topics missing and there is almost ni proof.
But for the pirce it is a good review book to many problems and examples.

It got me through Econometrics
This was an extremely useful book for the understanding of Statistics and Econometrics.Each topic had examples to show how the formulas work.The computer chapter went over the programming in SAS, Excel, and Eviews for the problems in the book.Best of all, the problems had answers.This is a must-have for beginning statistics and econometrics since it starts from scratch, and for theory students in search of an application. ... Read more

Product Description
This graduate text provides an intuitive but rigorous treatment of contemporary methods used in microeconometric research. The book makes clear that applied microeconometrics is about the estimation of marginal and treatment effects, and that parametric estimation is simply a means to this end. It also clarifies the distinction between causality and statistical association.

The book focuses specifically on cross section and panel data methods. Population assumptions are stated separately from sampling assumptions, leading to simple statements as well as to important insights. The unified approach to linear and nonlinear models and to cross section and panel data enables straightforward coverage of more advanced methods. The numerous end-of-chapter problems are an important component of the book. Some problems contain important points not fully described in the text, and others cover new ideas that can be analyzed using tools presented in the current and previous chapters. Several problems require the use of the data sets included with the book. ... Read more

Customer Reviews (16)

Difficult to rate
It's difficult to decide how to rate this text because it receives very favorable reviews from most readers, but it was not the book I expected, nor is it a book that I find particularly useful. I have long been a fan or Wooldridge's basic econometrics text because of its accessibility and coverage of a broad range of useful topics.I had expected to have a similar experience with the Econometric Analysis of Cross Sectional and Panel Data: a lot of good material covered in accessible fashion making technically difficult topics seem almost easy.Sadly, I found this book much more difficult than Woolridge's basic text, making it much less valuable as a self-instructional tool.

In good part, no doubt, the higher level of difficulty reflects the increased complexity of the material.But it also seems clear that Woodridge, perhaps rightly, is addressing a very different audience than the one he expected to use his introductory text.In any case, his earlier efforts to make hard-to-understand material accessible to readers who do not work with econometrics every day seem to be absent from this book.A reasonable admonition, therefore, might be that just because a reader found Wooldrige's introductory econometrics text useful is absolutely no guarantee that he or she will find this more advanced effort similarly readable.Certainly, anyone not thoroughly comforatable with matrix algebra will struggle mightily and still miss a great deal of value.

All tolled, the book may very well merit more than a three star rating.My experience with it, however, suggests otherwise.If only there were an unambiguous way, short of actually procuring and trying to read a text, to make its level of difficulty and required mathematical and statistical background a good deal clearer.The need for this sort of information has become a good deal stronger now that econometric methods are being used in a much more varied range of disciplines.

As an alternative to Woolridge's text, anyone interested in learning to analyze panel data might give Singer and Willett's (2003) Applied Longitudinal Data Analysis a try.Happily, Singer and Willett cover a broad range of pertinent material, and they never lose sight of the fact that their audience contains a lot of folks with limited training in quantitative methods.Their material is framed in terms of multilevel analysis, which makes it even more valuable.The only pre-requisite is a course in applied regression analysis,

Better than some, but still suffers from the same issues as all textbooks in the field
This book is a reasonably competent reference on panel data econometric methods.Its somewhat more clear and helpful than most metrics books, but not by a whole lot.It suffers from the same problem that plagues all econometrics texts.Like all metrics textbooks, it's long and overly detailed where it should be concise, and it's terse where it should be detailed.It also lacks a coherent, step by step structure.But that's essentially par for the course.

Statistics texts are almost universally either ultra-simple, hand waving outlines with no good mathematical insight, or they're a sprawling, useless mess of asymptotic derivations with no practical explanation, applicable intuition, or computational guidance. I'm hoping that one day, someone will write a really good econometrics textbook.This is a small step in the right direction, but it isn't the one we've all been waiting for.

Everything you wanted to know about panel analysis...and forgot to ask
As a development economist with some experience with panel data, I found Wooldridge a great guide to the nitty-gritty of longitudinal analysis.Good theoretical and practical background.Examples used to illustrate each point. Organizational structure is simple and elegant.If you've been relying on the Stata Manual to help you with your xt- econometrics, check this out first; you'll be less likely to make a mistake.

A good intermediate text, and a must for any econometrician's shelf. I'm buying a second copy - one for work and one for home. You might consider the same.

Excellent Book
Its an excellent book for advanced econometrics and a must read at the graduate level. Thanks Mr. Woolbridge

Excellent book, but no graphs
This is a an excellent textbook at the graduate level.

WHAT'S GOOD:
- Detailed explanations: Wooldridge's "wordiness" helps with the interpretation of the math.
- The examples are very clear and he tends to "re-use" them through the text which is good because it adds layers to your own understanding. All the datasets in the examples are available for download.
- Problems at the end of each chapter are both "math-based" and "applied", so it's nice to get a mix of both proofs and applied empirical work.

WHAT'S NOT SO GOOD:
- No graphs! I have to give it Four Stars **** because the book has no graphs - not one. Graphs can go a long way, for example, in explaining identification in a 2SLS system.
- There's not a lot of material on time-series.


... Read more

Product Description
Hayashi's Econometrics promises to be the next great synthesis of modern econometrics. It introduces first year Ph.D. students to standard graduate econometrics material from a modern perspective. It covers all the standard material necessary for understanding the principal techniques of econometrics from ordinary least squares through cointegration. The book is also distinctive in developing both time-series and cross-section analysis fully, giving the reader a unified framework for understanding and integrating results.

Econometrics has many useful features and covers all the important topics in econometrics in a succinct manner. All the estimation techniques that could possibly be taught in a first-year graduate course, except maximum likelihood, are treated as special cases of GMM (generalized methods of moments). Maximum likelihood estimators for a variety of models (such as probit and tobit) are collected in a separate chapter. This arrangement enables students to learn various estimation techniques in an efficient manner. Eight of the ten chapters include a serious empirical application drawn from labor economics, industrial organization, domestic and international finance, and macroeconomics. These empirical exercises at the end of each chapter provide students a hands-on experience applying the techniques covered in the chapter. The exposition is rigorous yet accessible to students who have a working knowledge of very basic linear algebra and probability theory. All the results are stated as propositions, so that students can see the points of the discussion and also the conditions under which those results hold. Most propositions are proved in the text.

For those who intend to write a thesis on applied topics, the empirical applications of the book are a good way to learn how to conduct empirical research. For the theoretically inclined, the no-compromise treatment of the basic techniques is a good preparation for more advanced theory courses. ... Read more

Customer Reviews (17)

Excelent Econometrics Book
Great book for advanced undergrad and grad students. Personally, I think this book is as good as the Greene, but much cheaper.

Solid basis for econometric analysis
I have a love/hate relationship with this book. Perhaps I should state as a precursor that I was never formally trained in economics before learning econometrics. And, that the last time I'd done matrix algebra or calculus was some 15 years prior.

We used this book as part of a taught graduate course. It took half a semester to go through the first two chapters - an investment of time that proved well worth it for the rest of the topics which were covered in the remainder of the semester.

Basically, if you can understand the first two chapters on ordinary least square regression for finite and large samples, the required assumptions and properties, then the rest of the chapters are a piece of cake:
- generalized method of moments for single and multiple equations
- panel data
- time series analysis (including unit root analysis)
- extremum estimators
- maximum likelihood
- cointegration.

In short, the book covers all major econometrics topics and does so in a succinct, clear manner. The way in which Hayashi builds on each topic, showing that all models are basically different versions of the same method, with slightly different assumptions is just brilliant. It put statistics in a different light for me, and gave me a much deeper, intuitive understanding of it than any other book or class had done before.

There is a caveat however. This book assumes that you have substantial mathematical grounding. In particular, I found the succinct use of notation, without any verbal explanation, irritating at first. I invested quite some time in a mathematical economics book reminding myself what sets were, rules of matrices, calculus functions, expectations and probability.

Without the support and input of our brilliant teacher who (very patiently) took us through the end of chapter exercises step-by-step, I would never have managed to successfully read this book on my own! While those exercises honed my skills and deepened my understanding, I relied heavily on Hayashi's home page notes and hints to complete them.

For those of you that have strong mathematical skills and an economic background, this book is probably one of the best introductions to econometrics. For those of you who do not, it will prove to be a difficult read at best.

What's certain is that after succesfully completing it, your econometrics and statistical skills will provide a solid enough basis for any graduate program.

Helps you to become a complete econometrician
Yes, indeed I also think this one is the best around. Some points I'd add are:

Hayashi's book is the only econometrics textbook I am aware of (IMHO, these are certainly not all, but quite a few) that is truly complete. Not only from a material point of view - it covers both time series and cross section material in a unified framework (as opposed to Wooldridge). The empirical exercises are useful (outperforming, say, Davidson/MacKinnon) and yet you can also go on to read theoretical papers or Amemiya after having read Hayashi's coverage of asymptotic properties of GMM and M estimators. Finally, also more towards the theoretical side, it provides some first training in hands-on programming, as opposed to some books that tell you where to click in eViews.

Furthermore:

- A corollary of the above comments is of course that it's not very detailed in each of the fields covered. E.g., all you find on limited dependent variables is Probit, Logit, Tobit.
- It's well managed: the typo list (which isn't very long, I should emphasize, especially for a 1st ed.) is always up to date
- The typsetting really is debatable. I find it unpleasant to have italics, boldface, boldface italics, verbatim environments etc all on one page. Less is more.

The best choice
Mr. Hayashi has written an excelent textbook, which has become the standard in PhD programs as far as I know. I agree with other recomendants that Hayashi has been original to explain econometrics from a newer and more efficient point of view. But there is more: Hayashi has devoted a lot of effort to create exercises to teach students instead of contributing to some professor's questions data bank.

A modern and unusal approach
This is a fine book, but probably not the one you want to buy if you are looking for ONE all-encompassing reference. The approach is interesting, but unusual, with all the pros and cons that come with originality. It is for graduate students, or very advanced undergraduates, as it requires quite a lot of previous knowledge of linear algebra and statistics.
What is unusual about this book is that it covers most topics within a unifying Generalized Method of Moments (GMM) framework. Many many estimators are treated as special cases of GMM. The book is clear, and the notation is mostly OK, even if the chapters on panel data and systems of simultaneous equations are a notational nightmare, partly because of the choice of treating everything in a GMM framework. Another unusual aspect of this book is the emphasis on certain regularity conditions (such as ergodicity) that are usually used in a time-series framework, but are not commonly seen in cross-section analysis. I studied (also) on this book as a graduate student, and overall I liked it. The only real minus are the exercises, which contain so many hints that they become trivial (really, I am not a genius...). Worse, they only require mindless application of linear algebra.

One UNimporant cons of this book is the fact that (cover aside) it is... ugly! How could the publisher choose the boring "Times New Roman" font for this book!? But this, of course, does not really matter....

Overall, a useful and good book, but if you are looking for ONE textbook in cross-section econometrics Wooldridge is probably a better choice, and if what you are looking for is ONE book in time series, Hamilton is likely to be what you want on your shelf. ... Read more

Product Description
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. ... Read more

Customer Reviews (19)

Need more precise description
Book is in good condition as described, but there was multiple underlying that wasnot mentioned in the description

Very bad quality book
I was shocked when I got this book, which was in very poor condition, the cover page was broken! Not a reliable seller!

What I was expecting
The book I purchased was exactly what I had been expecting, in good condition, and arrived on schedule. No complaints whatsoever!

Did not get the book
I did not get the book and the seller is not in contact.

I am quite pissed off by this attitude and I hope the administrator of Amazon would look into this issue.

Thank you,
Z

ok
binding on the book was in terrible condition...completely unattached.other than that book is in o.k. condition ... Read more

Product Description
This is a thorough revision of the best-selling undergraduate Econometrics text.Accessible, complete, and student-oriented, Basic Econometrics is appropriate for first courses in Econometrics at all four-year colleges and universities.In addition to a first-rate text, students have access to the SHAZY student version of SHAZAM, an inexpensive version of a widely used econometrics package, as well as data sets (free on adoption to instructors) for problem and example material in the text. ... Read more

Customer Reviews (30)

Most Confusing Textbook Ever
This is the most confusing textbook I have ever read. Formulas stacked on top of formulas, that in reality are the same thing... The language is anything but clear and takes too long to make the point. Dreadful as an introduction to the subject. If your instructor is using this as your primary text he/she is trying to weed out the weaker students, because you are in for a confusing semester, unless they are exceptional teachers. Ironically, the information beneath the massive verbage is simple and interesting. Ugh. Good luck.

Somehow Gets Worse With Age
The 5th edition is not a bad book by any means. It's relatively clear, though at times it loses sight of a more intuitive conceptual approach while exploring mechanics. I've been using this in conjunction with Greene, and definitely find this to be the better of the two. I guess I would put it thus: I expect Greene to be a better reference down the road, but this has been a very helpful educational tool.

It loses a star for two reasons:

1) Organization is terrible. There is one appendix at the back of the book, then a series of appendices at the end of each chapter. You have to expect some flipping around in any text, but this is a but much.

2) I happened to pick up an earlier edition at the campus library for a study session after I accidentally left my own (5th) edition at home, and amazingly, I found the earlier edition to be MUCH better. I'm not sure of the reasons for the change, but the explanations - and the prose itself - were much clearer in the earlier editions. Perhaps the authors wanted to make newer editions more challenging. Either way, at times when I've been stumped deciphering with a new concept, I'll return to the earlier edition and find it crystal-clearly explained. Very odd.

All in all, though, a worthwhile text.

Don't even think about buying it
No...no....no....no.
Stay far away. I would consider myself pretty adept at statistics and mathematics in general. I've taken several math courses in college including Calculus I and II, Linear Algebra, and Advanced Statistics. I have never received below an 4.0 in any of these courses. With my background in statistics, I thought econometrics would be interesting and relatively easy to grasp. This book does an awful job as an introductory econometrics book. It fails to explain the relevance of econometric and regression analysis and although attempts to apply concepts to real world examples, makes it extremely difficult to follow. Poorly organized and more advanced than an intro econometrics book should be.

Mediocre
Although I don't have anything to compare it to, the book has several serious shortcomings.

First, the organization is poor. There are often appendices at the end of chapters, as well as at the end of the book, and the references to these can get very confusing. Also, the problems at the end of each chapter take up way too much space. The general rule is to put an entire table of data on the page for each problem, which often takes up an entire page or two, despite the fact that these data are also included electronically, and presumably if you are doing data analysis you will want to use the electronic version rather than hand-entering massive tables. So you often have chapters with 20+ pages of problems in between, few of which are very helpful, and they just get in the way.

Second, the problems seem pointless. The data often are not well explained, and the problems simply ask you to apply such-and-such test to the data, without really any background for interesting interpretation or useful insights. Clearly not much effort was put into these. As a whole the book was heavy on statistical tests and short on data analysis.

Another major problem, which might be unavoidable, is the continued use of scalar versions of linear regression models throughout the text. There is a brief review of linear algebra in the appendix, but this not taken advantage of, and so we get some extremely clumsy formulas for estimators at times, and generally an unnecessary amount of complexity that could be avoided by integration of matrix forms of the models.

Overall, there is a lack of clarity and flow. I did appreciate that the authors frequently explain concepts in several different ways, which can help in understanding. However, sometimes it's best just to get to the point, which is rare here.

Not recommended, especially for those who know basic matrix or linear algebra -- though I can't suggest any alternatives.

Great text
The Guj is a clearly written text on regression. While reasonably succint in style, it still gives enough explanation and conversation about concepts to help the reader build a full understanding. ... Read more

Product Description
Succeed in econometrics with INTRODUCTORY ECONOMETRICS and its accompanying resources! Easy-to-read and student-friendly, this economics text places an emphasis on examples that give a concrete reality to economic relationships. With study tools found throughout the text, exam preparation and class projects have never been easier. Coverage of important knowledge used for empirical work and carrying out research projects in a variety of applied social science fields gives you a solid foundation for social science research. ... Read more

Customer Reviews (21)

free twizzler!
The book came very quickly in the mail. I'm pretty happy. Condition was as good as described. I got a free twizzler from the seller too!

Snooze
Wish I could just lay my head down and take a nap. I dream in matrix notation.

condition as stated, good service
the book was in good shape despite being an old edition and the delivery was prompt.

One of the Best
This book is a brilliant work on teaching. I am a Business graduate and Finance major, who didn't have notions of econometric analysis before reading Wooldridge's Introductory Econometrics. The book covers many important issues, always with great examples and thorough explanation. The topics are treated with great care, it's a very comprehensive approach!

Introductory Econometrics
I'm using "Introductory Econometrics" for review, and in that respect it's very thorough.But it can also be used, as the title asserts, as an introductory textbook.

Mr. Wooldredge is very practical, as he keeps the topics at the "applied" level.He includes just enough theory to help in understanding how and why the model works, and he keeps repeating what every econometrician knows: econometrics is problematic in application.Keep it as a reference after you finish the class.

One can also get the database that Mr. Wooldridge uses (as well as several others) by going to the Wake Forest University website and downloading a free copy of the econometric software package, "Gretl."Gretl will handle any econometric models in "Introductory Econometrics." ... Read more

Product Description
Using Econometrics: A Practical Guide provides students with a practical introduction that combines single-equation linear regression analysis with real-world examples and exercises.

An Overview of Regression Analysis; Ordinary Least Squares; Learning to Use Regression Analysis; The Classical Model; Hypothesis Testing; Specification: Choosing the Independent Variables; Specification: Choosing a Functional Form; Multicollinearity; Serial Correlation; Heteroskedasticity; Running Your Own Regression Project; Time-Series Models; Dummy Dependent Variable Techniques; Simultaneous Equations; Forecasting; Experimental and Panel Data; Statistical Principles

For readers interested in understanding econometrics.

... Read more

Customer Reviews (1)

pricey (but what do you expect i guess) but pretty good
this is an easy to understand text if you make the effort to learn the underlying statistics.start with chapter 17 if you have this book - it's the review chapter.i've read the first seven chapters thus far, and so far so good.if i had to do it over again, it's likely that i would just get one of the prior editions as i'm guessing the bulk of the information would be the same. ... Read more

Product Description
Principles of Econometrics clearly shows why econometrics is necessary and provides you with the ability to utilize basic econometric tools. You'll learn how to apply these tools to estimation, inference, and forecasting in the context of real world economic problems. In order to make concepts more accessible, the authors offer lucid descriptions of techniques as well as appropriate applications to today's situations. Along the way, you'll find introductions to simple economic models and questions to enhance critical thinking. ... Read more

Customer Reviews (9)

Principle of Econometrics - very good book
The "Principles of Econometrics" is very good book. This book shuold read students which starting learn econometric and people which need to know something more about econometric. Also this book have got more advenced subject, which are very easy explain. Good point of this book is the access to PDF examples which is possible check in the GRETL aplication. Also, on website of book you find data in excel files.

Perfect condition, fast delivery
The book was delivered in perfect condition.
The delivery was very fast, before expected.

Econometrics book, excellent transaction!
The book arrived just as promised in as-new condition.I would do business again with these folks.

Need to Know
Nice book, personally dislike the subject matter but it did a good job of explaining the topic.

know your calculus
Know your calculus well before buying this book: this book has rigorous use of theoretical proofs, albeit optional.

The information in this book is in concentrated format. It exists to cover the core of econometrics in the shortest time possible, supported by mathematical proofs.
This book will benefit a person who is well versed in mathematical economics and statistics, if you are such a person then this book will offer you a decent insight into econometrics.
For persons with no such talents this book will be intimidating to work through and I don't think you will gain much from it, it would only lead to frustration.

'Undergraduate Econometrics' is not as good as Gujaratis's book Basic Econometrics, so if you have a choice (and time) then get Gujarati instead - he offers better explanations and covers more ground.
... Read more

Product Description
The primary objective of the fourth edition of Essentials of Econometrics is to provide a user-friendly introduction to econometric theory and techniques.This text provides a simple and straightforward introduction to econometrics for the beginner.The book is designed to help students understand econometric techniques through extensive examples, careful explanations, and a wide variety of problem material. In each of the editions, I have tried to incorporate major developments in the field in an intuitive and informative way without resort to matrix algebra, calculus, or statistics beyond the introductory level. The fourth edition continues that tradition. ... Read more

Customer Reviews (13)

Horrible book
just horrible.
the content is mess.
Have no idea why my college prof choosed this garbage as our textbook.

Not Technical Enough
If you are just beginning to learn Econometrics this book is good.However if you want a through introduction, with more math, look elsewhere.

Recommended by a Practitioner, student, and teacher
I gave this book 5 stars and wanted to post a response of what it is good for and what it is not good for.I am writing from the point of view of someone who has been a practitioner, teacher, and a student, all in recent times.

First, relative to other books on Econometrics or statistics for that manner, this is one of the easier ones to understand.If, as a student, you are having difficulty, it is most likely because you either haven't quite yet had adequate experience with the topic and would benefit for solid instruction (which is sadly lacking for many universities). In other words, the concept being taught is actually highly embedded both with research methodology and statistics. If you (or your professor) are weak on either,book or no book, this would be a tough one to learn on one's own.

Second, provided you have some background, the amazing thing about this book is that it gives you an adequate amount to ask vast majority of the "right" questions to conduct a statistical study.The sections on skew and kurtosis are better than two of the statistical texts that I have on my shelf.The sections on multi-collinearity, heteroskedacity, and auto-correlation are just enough to recognize for a beginner to understand the major statistical techniques. I admit, they ARE NOT adequate for someone who specifically needs the math side for running a very specific set of slightly more advanced techniques used in finance to address time series.However, that is not the need for most undergraduates or even many graduates; and in fact, that shouldn't be taught first anyway.

This book is NOT going to be adequate as a stand alone for someone who really needs to be advanced in this topic.Clearly, they do not address linear regression in the context of linear algebra.Similarly, the latter sections are written for a beginner and not someone who is going to do advanced modeling techniques to manage heteroskedacity, multi-colinearity, and auto-correlation.

For someone who has the right foundation to become advanced, it's a fantastic place to start, as you can kind of get a better top down sense for where your education needs to bring you.For someone who is already a stats graduate degree type person, you may want to look up texts that address linear regression and the special topics specifically.If you are a professor, you can assign a GOOD text on linear regression for your nerdier students to reference.

From a practitioner's point of view, I used this text quite a bit when I first got started.This is because the organization is fantastic.The answers are where you would expect them.For example, what do I do if my data is not normally distributed, go to skew and kurtosis and all the tests are easily laid out as well as how to interpret them and some of the alternative transformations that can be done.A lot of linear regression texts are far too weak on interpretation which is far more important to a practitioner.In other words, for other texts, they stop short at identifying the set is non-normal (graphically, not mathematically) and then transforming.They do not then tell you what to do to the transformed data.

Needs an apology
This book covers a subject that is complex and confusing and makes it even more complex and confusing. The author jumps around;forces the reader to flip back and forth through the book; leaves out half of the tables and charts that he refers to and includes so may typos that a student needs a translation maunual.

a big help
Gujarati has written a series of textbooks on econometrics, and I have found each of them to be useful.In the middle '70's, when econometric methods were catching on in a big way in sociology and political science, many of us felt as if we had been reduced to premature obsolescence:econometrics, whatever it's virtues, was typically presented in a densely mathematical fashion which made it inaccessible to non-specialists.The 1975 version of Gujarati's text, however, was a real help in making econometrics interpretable.This text is written in the same accessible way, and it's coverage of important topics has kept pace with developments in the literature.Econometrics is never easy reading, but Gujarati has done it about as well as can be done.

My only difficulty with this text is that the author spends a great deal of time with simple regression, introducing assumptions, tests for violations of assumptions, and possible remedies.His account would be more interesting if he got to multiple regression, using interesting examples, a good deal earlier than he does.This could be accomplished without departing from Gujarati's early emphasis on introduction of requirements of the classical linear regression model. ... Read more

Product Description
Enders continues to provide business professionals with an accessible introduction to time-series analysis. He clearly shows them how to develop models capable of forecasting, interpreting, and testing hypotheses concerning economic data using the latest techniques. The third edition includes new discussions on parameter instability and structural breaks as well as out-of-sample forecasting methods. New developments in unit root test and cointegration tests are covered. Multivariate GARCH models are also presented. In addition, several statistical examples have been updated with real-world data to help business professionals understand the relevance of the material. ... Read more

Customer Reviews (13)

It is really boon in time series world
Enders's book is really boon in time series world. First, you no need to worry; the book is not as thick as your pillow, it brings you to time series world through simple way. Second, besides Enders makes things in simple way, the explanation is "digest-able" for people with less background in math or linear algebra and for those who eagerly want to know what time series really is. Third, Enders's book is an oasis for people who devote his/her life for research, and also for academic world as well as graduate students. Fatur -- Central Bank of Indonesia, Regional Office of Palembang, South Sumatera.

Absolutely Fantastic
This is a great book for those willing to spice up their know-how of AR, VAR and the likes of Arch models.

Excellent reference
This book is an excellent reference guide and a must have book to everyone interested in time series analysis.

Good intro and review of the material
Having read a few books on time series analysis, Enders provides the best introduction to the area.The approach is simple and practically oriented.Explaining the basics of the area with limited use of math is beneficial.With this area developing so rapidly, a new, updated edition would be a welcome book on my shelf.

Excellent as a practical quide - a must have handbook - recent development are here too
I bought this book as an introductory reading to time series. And found it very easy to understand, both the theoretical explanations and practical applications. I think it is a "must have handbook" for any economics student. The last edition also covers the recent panel unit root tests, not the 2nd generation ones but Im, Pesaran, Shin panel test is explanained pretty well. Graphical illustrations of series and visual detection of possible problems are nice for beginners. Also, shows how to analyze data step-by-step with plenty of examples. In overall I think it is a great investment for those doing empirical studies and/or starting to learn/work with time series. ... Read more

Product Description
This is the essential companion to Jeffrey Wooldridge's widely-used graduate text Econometric Analysis of Cross Section and Panel Data (MIT Press, 2001). Already established as a leading graduate econometrics text, the book offers an intuitive yet rigorous treatment of two methods used in econometric research, cross section and panel data techniques. The numerous end-of-chapter problems are an important component of the book, encouraging the student to use the analytical tools presented in the text. This manual contains answers to selected problems, new examples, and supplementary materials designed by the author. Users of the textbook will find the manual a necessary adjunct to the book. ... Read more

Customer Reviews (2)

Recommended opurchase with text
I would recommend purchasing this solutions manual along with the text as there is some notational and terminology issues with some of the exercise questions that are clarified by the solutions manual. Only odd numbered problems are solved.

Extremely useful book
The solved exercises are an excellent study tool to accompany the book Econometric Analysis of Cross Section and Panel Data. ... Read more

Product Description

This text prepares first-year graduate students and advanced undergraduates for empirical research in economics, and also equips them for specialization in econometric theory, business, and sociology.

A Course in Econometrics is likely to be the text most thoroughly attuned to the needs of your students. Derived from the course taught by Arthur S. Goldberger at the University of Wisconsin-Madison and at Stanford University, it is specifically designed for use over two semesters, offers students the most thorough grounding in introductory statistical inference, and offers a substantial amount of interpretive material. The text brims with insights, strikes a balance between rigor and intuition, and provokes students to form their own critical opinions.

A Course in Econometrics thoroughly covers the fundamentals—classical regression and simultaneous equations—and offers clear and logical explorations of asymptotic theory and nonlinear regression. To accommodate students with various levels of preparation, the text opens with a thorough review of statistical concepts and methods, then proceeds to the regression model and its variants. Bold subheadings introduce and highlight key concepts throughout each chapter.

Each chapter concludes with a set of exercises specifically designed to reinforce and extend the material covered. Many of the exercises include real micro-data analyses, and all are ideally suited to use as homework and test questions.

Customer Reviews (10)

Another badly written statistics book
For professors who have seen this material over and over again, it might be reliable.

But for students wishing to learn the material this book is garbage.The author doesn't bother to explain anything, and the examples given are few in number and extremely narrow in focus.Exercise problems have little or no relevance to the chapters they belong to, and often other books or sources are required just to decipher the meaning of the questions or to borrow intuition from to solve them.Prose is extremely terse, ineffective, and incomplete.It seems as though the author just didn't care enough to make the book readable or usable.Goldberg makes the reader have to work excessively hard to gain any kind of interesting or important information.This book appears to just be another example of a badly written book in an entire field of badly written material.

The best econometrics text, period!
I would give this book 6 stars if I could. I think James Heckman has called this book a masterpiece, and I would fully agree. This is a unique text that takes a distinctive approach -- one which, in my opinion, is essential for really understanding econometrics. I am a PhD in economics, and I explored a great many econometrics texts in my quest to get a better handle on the subject. I found that while I can follow all the proofs in standard texts like Greene, I didn't really get the intuition behind how things worked. All that changed once I picked up Goldberger. Goldberger takes what I would call the "identification" approach (an approach emphasized by other well regarded econometricians such as Heckman and Manski). The identification part of econometrics is the link between a model and the probability distribution function of observed variables. If you had an infinitely large sample, so you knew the joint probability distribution exactly, how does that help you identify some interesting parameter in your model? Secondary to this is the issue that in real life, you have only finite samples, and you estimate parameters of the joint pdf only with uncertainty. This is where standard errors and confidence intervals come in. But the identification part is really the core part of econometrics, and is very simple. Most econometrics texts mix identification and estimation, and so unnecessarily confuse the issue. For instance, in the standard approach, the fact that OLS estimates are biased when there is measurement error in the independent variable is usually directly proved by algebraically manipulating the OLS estimator. But this can be seen in the identification part alone, without any reference directly to the OLS estimator. Goldberger makes clear that the OLS estimator is still a great estimator of the best linear predictor (BLP) of the distribution. But the BLP no longer tells you what you need to know given that there is measurement error. So your attention is rightfully directed to why the BLP no longer tells you what you want when there is measurement error, rather than why the OLS estimator is biased. This really simplifies and clarifies everything for me. (Note: I don't recall whether Goldberger directly discusses measurement error; this was just an example to highlight the difference in appraoch). While it is true that this book was published nearly 20 years ago and may not be up to date with all the latest techniques, it is still the best way to learn econometrics, in my opinion. Once you really understand the fundamentals, everything else becomes a clearer.

Great quality, fast shipping
There is not much to say: it arrived quickly and there was no damage to the book. I was completely satisfied.

A very good start
This is an exceptionally well-written text on introductory econometrics suitable for self-study or for use in an advanced undergraduate or a first-year graduate-level course in econometrics. The only prerequisites for reading this text are a good understanding of freshman calculus and a working knowledge of basic matrix algebra. The necessary probability theory and statistics knowledge are developed in the text. This book is less than 400 pages long and a motivated reader can read this text from cover to cover in a few weeks. This is not a very high price to pay to gain a solid understanding of the most fundamental tools of cross-sectional econometrics. The emphasis is on developing the core tools used in econometrics. This text is very readable but at the same time fairly concise. Compare this to many other texts that are padded with hundreds of pages of empirical examples and other verbal detours from the core material. The author is never too verbose, but at the same time offers helpful explanations and examples in cases where the reader is likely to be confused. These days, most graduate econometrics courses are taught from other, more modern, and supposedly more advanced econometrics texts. While many of those popular graduate-level econometrics texts cover significantly more material, they also read like a terrible train-wreck of badly assembled subjects that are extremely difficult to digest on the first (and sometimes second) reading and specially on your own. Therefore, even an advanced graduate student who was once confused by those text may benefit from reading Goldberger's text.

Approximately one third of the text is devoted to the background knowledge in statistics and probability. The second part of the text develops the classical normal linear model. The last third is devoted to various kinds of departures from the standard classical assumptions and to models such as GLS, nonlinear models, simultaneous equations, 2SLS, and 3SLS. Only this last part of the text can honestly be called "econometrics". The rest of the text is the standard material on statistical inference and linear modeling. However, this background material is at the core of most econometric tools, and Goldberger nails all issues of this background material "from A-Z". A full proof or at least a sketch of the proof is given pretty much to every result in the text.

The first 13 chapters of this textbook cover standard probability theory and statistical inference. This sets Goldberger's text aside from the rest of graduate-level introductory texts in econometrics because most of them relegate the necessary probability and statistics background into tersely written appendices. Goldberger uses some of the ideas and notation developed in those chapters later in the text, so it is useful to review the first 13 chapters even if you have studied statistics before. Chapters 7 and 18 serve as a good introduction to the bivariate and multivariate normal random variables (again, some other texts do not spend as much effort here).

Chapters 14 through 25 are devoted to meticulous development of the classical normal regression model. This is where this text truly shines. Everything is proved and explained very well. Chapter 22 and 24 are devoted to issues and strategies for empirical work. Unfortunately, most of the material in this text is developed under the assumption of non-random regressors. Chapter 25 lifts this assumption and shows that nothing really changed (except for notation). Nonetheless, I feel that it would be more in line with the spirit of econometrics to assume random regressors from the beginning. The large sample results of the least squares are stated but not proved, which is unfortunate. Given the asymptotics machinery already developed in the text, presenting a sketch of large sample proofs would not take too much space.

The rest of the text talks about GLS, nonlinear models, and simultaneous equations. The presentation of the simultaneous equations model in the subsequent chapters is very thorough with many examples. Most emphasis is on the 2-equation supply and demand type of models.

Finally, yet another interesting feature that sets this text apart is that the author emphasizes throughout it the link between OLS, conditional expectation, and best linear predictors. Many other texts barely mention this simple insight.

Unfortunately, the material on maximum likelihood is very brief and sketchy. Therefore, it is best to use some other text for MLE theory and models. There is also nothing on panel data models or GMM. I will give this text four stars. It is hard to give five stars to an basic econometrics text that does not have a chapter on standard panel data models.


To recap, the best features of this text are:

- Short, concise, yet very readable and suited for self-study.
- A brief, reasonably rigorous, but intuitive development of the necessary probability and statistics material.
- A very good analysis of the classical normal linear model.
- Good introduction to analysis of stationary time series, GLS, and SEM.
- Emphasizes the link between OLS, conditional expectation functions, and best linear predictors.

The weak points are:

- No panel data models.
- No GMM.
- MLE sections are brief and sketchy.
- Large sample theory for OLS.

Despair all who have to use this book
This is possibly one of the worst textbooks I have ever read.I had to use this book in a graduate level econometrics class and found it very difficult to follow: poorly written, counterintuitive, and with a confusing choice of statistical notation.We only used about the first half of the book.A much better book is Rice's Mathematical Statistics and Data Analysis. ... Read more

Product Description
Combining single-equation linear regression analysis with intuitive real-world examples and exercises is key to the success of Using Econometrics.Clear writing and a practical approach to econometrics that eschews the use of complex matrix algebra and calculus evidence this essential text's accessibility. As the subtitle, A Practical Guide, implies, this book is aimed not only at beginning econometrics students, but also at regression users looking for a refresher and at experienced practitioners who want a convenient reference. ... Read more

Customer Reviews (5)

Review
Email responses could have been a bit faster but the book was in great shape. Expedited shipping was on schedule.

BOOK REVIEW
I purchased a book for my son for college. The purchase was the easiest thing that I had to do and the book was in fantastic shape for a used book. I will do this again very soon

Good service
I am absolutely satisfied with the purchase of "Using Econometrics: A Practical Guide" I bought last November through Amazon. The delivery was prompt and the book in the condition described.

practical but weak in mathematics
This is probably the easiest book to learn some basic econometrics from, but being easy is not necessarily the best. The book is very weak on mathematics.

This book uses minimal amount of mathematics and statistics in instructing on how to use econometrics. This is fine is you are not majoring or specializing in Economics, but these days you simply need to know the mathematics behind it if you aim to work as a professional economist one day. The sooner you learn the math the better for you.

So, for non-economists: this is a simple and well explained book to use.
For future economists: avoid simple books like this.

If you are an economics student you should know some calculus and matrix algebra already, you should be able to work with books that are more mathematically rigorous such as Gujarati's Basic Econometrics and Johnston's Econometric Methods.
If not, you need to revise your math.
If you find these books far too intimidating, Tryfos' book Methods for Business Analysis and Forecasting: Text and Cases is more mathematical than Studentmund but less so than Gujarati and Johnston.

All you need for basic regression and such
This is a well organized text that is great to have on the shelf for making sense of your statistical output and for thinking about how to approach your research question. It's well written and neither too simple or impenetrable. A little short on statistical tables and diagnostics as compared to some of its peers. ... Read more

Product Description
Offers an ideal combination of econometric theory and hands-on practical training for undergraduate and graduate courses. The author’s ambition is to provide realistic applications without sacrificing theoretical underpinnings. He uses a logical step-by-step approach to walk readers through numerous real-world examples of model specification, estimation, and hypothesis testing. The book also succeeds at being self-contained. By including background information on mathematics, probability, statistics, and software applications, readers have all the information they need in one place. ... Read more

Customer Reviews (13)

Condition misrepresented
The book was no where near the condition it was advertised as.It was labeled as having very little to no highlighting, but almost every page in the txt has highlighting!It came very quickly, and I was happy about that, but it was certainly not the condition it was sold as.

not so new
It's not so new as the seller's description. There are so many marks and notes on the important pleces of the book. But its still a wonderful book.

One of the worst textbooks ever
This book is absoulutely awful, it caused me to fail my first exam in my college carreer, Ramanathan is incable of clarifying anything, the book is really vague. There is no glossary in the book of the book nor does Ramanathan show any demonstration once so ever how to do any of the math. The author just provides theorems with bad explanations that are so unclear.

I would say only purchase this book if you have to and need it for homework questions, you won't learn econometrics from this.

If you want a book that will explain the material and why you do it, get Peter Kennedy's "A Guide to Econometrics," and if you want something to help with the math get the Schaum book on Statistics and Econometrics. You'll lean so much more from these to books and appreciate the subject more so than hating it, if you just read Ramanathan's "Introductory Econometrics with Applications." The only people who love this book either know the subject material really well before reading this one or are just brain dead. This book is a terriable introductory to anybody new to this subject.

There has to be something better
There has to be a better econometrics book out there, although I assume if you're buying this you're doing so because you have to for class and not because you're out there trying to find the best book.I used this for econometrics class at USC and it was okay as a reference after lectures, but rarely made sense if tried to read it before class.Now, when I occasionally refer to it as a reference at work, I find it time hard to quickly find answers to my questions.It's poorly organized and not very straightforward.I'm sure there is better out there.

Excellent
I used this book for the Applied Econometrics course I had to take at the university and it was very useful and relatively easy to understand, especially when compared to others. ... Read more

Product Description
This highly successful text focuses on exploring alternative techniques, combined with a practical emphasis, A guide to alternative techniques with the emphasis on the intuition behind the approaches and their practical reference, this new edition builds on the strengths of the second edition and brings the text completely up-to-date. ... Read more

Customer Reviews (7)

Best customer service I've ever experienced.
I live in Denmark and had purchased the book in USA. The danish custom authorities charged me 50$ tax, (which is close to the price i paid for the book). Amazon reimbursed me for the full amount!

The book is also good, all the relevant math, but a bit wordy (as it is often the case with american non-fiction books.. Maybe they get paid for the amount of pages they write.. :))

Also the layout could use a bit of work, just to make it eaiser to jump around in it after reading it.

What a lovely pragmatic approach!!
I have been going through the first 40 pages and it looks really easy to follow...which is not automatic given the subject..

language and presentation is good
I like the book because it's among the few econometrics books that I can understand by the frist read, but as the book title says it is only a "guide", it does not include anything about survival models, which I think is an important part of modern econometrics.

Just the Best!
I used to think that the book written by Davidson & Mackinnon (2004) is the best graduate book in econometrics. After reading this book, however, I changed my mind. This book is better for a number of reasons. First, it covers standard material (rather than non-standard one such as the geometry of OLS, artificial regressions, etc); this tailors to the need of most readers. Second, it covers OLS quickly and moves on to alternative estimators (rather than spending two chapters on hypothesis testing and confidence intervals, which is quite redundant). Third, it derives an estimator in a formal way (i.e. optimizing a particular objective function rather using the informal method of moment). Fourth, it complements econometric methods with empirical examples (rather than discussing econometric methods alone); this facilitates reader's understanding. Finally, its exposition is crystally clear (Bravo!).

One critique: An ideal graduate text should contain enough material for two semesters. However, this book is too short for two semesters but too long for one semester. So, I would suggest that he add two things. First, please expand the material on GMM and compare it to OLS as the organizing theme. Second, please add the material on bootstrap and Monte Carlo methods.

must have it
One of the very few econometric books that are possible to read for non-mathematicians. Recommend to everyone interested in econometrics. ... Read more