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Customer Reviews (1)

The go-to book for advanced non-parametrics

I have been through the first four chapters of the book now with a student in some detail.This is a very nice book.It is clearly written and covers the frontier of the literature.It is not appropriate as a first treatment of non-parametrics as it presumes some background knowledge.A reader new to the area should start with something a bit more applied such as the older Silverman or Haerdle books.This book is also more proof-oriented than the Pagan and Ullah book.I think of this book as oriented toward an advanced graduate course or as a reference book for those who use these methods and want to understand their theoretical econometric foundations.The book is particulary strong, not surprisingly, on things that the authors have written a lot about, such as kernel regression and cross-validation.

Disclaimer: I know both Jeff and Qi.
... Read more

Product Description
In keeping with their successful introductoryeconometrics text, Stock and Watson motivate each methodological topicwith a real-world policy application that uses data, so that readersapply the theory immediately. Introduction to Econometrics, Brief, isa streamlined version of their text, including the fundamental topics,an early review of statistics and probability, the core material ofregression with cross-sectional data, and a capstone chapter onconducting empirical analysis.

Introduction and Review: Economic Questions and Data; Review of Probability; Review of Statistics. Fundamentals of Regression Analysis:Linear Regression with One Regressor; Regression with a SingleRegressor: Hypothesis Tests and Confidence Intervals in theSingle-Regressor Model; Linear Regression with Multiple Regressors;Hypothesis Tests and Confidence Intervals in the Multiple RegressorModel; Nonlinear Regression Functions; Assessing Studies Based onMultiple Regression; Conducting a Regression Study Using Economic Data.

Customer Reviews (2)

Depends on who you're teaching.
This text is unusually brief when compared to most econometrics texts, and the brevity reflects the coverage of topics.Nevertheless, the authors have done a favor for those of us who have to teach regression to students without strong backgrounds in statistics, and whose interests do not take them into comparatively esoteric material.

As it is, the book does a good job of covering basic issues essential to using OLS regression for applied work in most institutional settings.The book is written so that students find it more accessible than other texts, though most still find it pretty heavy going.The book is replete with graphs and charts, clarifying important issues.Examples are numerous and instructive, as are questions for students to answer and problems for them to solve.

More and more academic majors are requiring their students to gain a working knowledge of regression analysis.Stock and Watson's book makes that task less onerous, and it recognizes that most students will not have to go beyond the core topics needed to work with useful but relatively simple models.A good book

Econometrics Textbook
The product was here when i expected it to be and it is in great condition! They company is reliable and they saved me a lot of money. ... Read more

Product Description
This book is an ideal introduction for beginning students of econometrics that assumes only basic familiarity with matrix algebra and calculus. It features practical questions which can be answered using econometric methods and models. Focusing on a limited number of the most basic and widely used methods, the book reviews the basics of econometrics before concluding with a number of recent empirical case studies. The volume is an intuitive illustration of what econometricians do when faced with practical questions. ... Read more

Customer Reviews (4)

Concise yes, intiutive no
After a promising preface and introduction, this book jumps the shark almost immediately in chapter two when it starts with formulas and terms such as 'probability density function.' It continues with a series of 'statisticspeak' terms, and formulas with random examples mixed in.This is not intiutive in any way.What it really amounts to is condensed econometrics with all the explanations taken out.So, if you can speak statistics fluently, this might be a good book for you.If you are a regular person, don't bother.

Of little value
I used to know a bit of econometrics and hoped this would jog my memory and give some practical pointers. I found it almost useless for my purposes. It reads almost like a really detailed glossary of terms.

An unique gem of a book
I'm really surprised that there haven't been more knowledgable reviews of this book before now. I'm also surprised that there isn't a lot of buzz out there about *A Concise Introduction to Econometrics.* This is an unique gem of a book for anyone who is interested in econometrics but does not have a PhD in economics.

What is this book about? This is one of the few books that lives up to its title.

It is concise (the heart of the book is about 100 pages) and is reminiscent of Oxford UP's 'A Very Short Introduction' series.

It deals with econometrics - the statistical analysis of economic data. The book provides a brief but informative remedial section on basic statistics necessary to understand the heart of the book, regression analysis (both cross-sectional and time-series). The book dissects some case studies -- examples from actual, real-life econometric studies (as opposed to made up 'toy' examples used in much more dense books) -- with a special emphasis on topics relevant to finance (financial econometrics) and marketing.

Finally, it lives up to its byline "An Intuitive Guide." It really does deliver a (relatively) intuitive guide to a highly mathematical subject. Even though the book recommends familiarity with calculus and linear algebra, it can easily be read and understood by an intelligent person with a more limited mathematical background (high-school algebra is probably all you need, but you do need mathematical 'maturity' and patience). The emphasis is on understanding the underlying reasoning and not on calculation or formal proofs. It even deals with advanced topics like ARCH/GARCH in this relatively intuitive way.

Who is this book for? I think that the audience for this book are beginning students of econometrics or regression analysis outside of economics. This would obviously include undergrads in economics, finance, etc. and non-quant MBA students. But what many people don't realize is the extent to which econometrics has gained in importance in seemingly unrelated fields. Many law schools, lawyers, and legal scholars make use of econometrics and they could benefit from a book like this. Those people in public policy (academics or in practice), public health, and non-econ social sciences could also benefit from this book. The book is written on a level that intelligent law and policy students should be able to get a lot of knowledge about a topic they would normally be intimidated by.

Another audience for this book are people who have to deal with econometrics on a PRACTICAL level. One of the things that many people who studied econometrics in school find when they have to use it in the real world (on-the-job) is that the formal academic training both OVER-prepared them and UNDER-prepared them for the real world uses of econometrics in finance and marketing (the two areas of emphasis in this book). At least in non-academic settings (and in research assistant work in academe), you don't really need to formally derive a proof or have memorized the content of Greene's econometrics textbook. In fact, a lot of the gibberish one learns in a formal setting will confuse you and often times not clarify how you would model a situation you confront and what kind of data (and how to get it) you need to properly answer the problems you're tackling.

Philip Hans Franses, the author of this book, actually relays to the readers that he is very cogniscent of these types of issues. In fact that was his main motivation for writing this book. He comes from a marketing and financial econometrics background so he is very familiar with on-the-job issues relevant to making practical use of econometrics.

I contrast all of the above with a book like Peter Kennedy's famous guide to econometrics. I don't want to knock or disparage that book, because (for what it is intended to do) it does a great job. But Kennedy's book is designed as a way for economics students (especially graduate and advanced undergrad) and PhD economists to have a reference and general overview of a variety of topics in academic econometrics. That isn't to say that it is not useful -- it would be especially useful for financial engineers dealing with advanced issues in financial econometrics. But, in spite of its strengths for those taking formal econometrics courses or in need of a academically oriented refresher or intro, it does not do what Franses' book does: A practically oriented and brief light-on-the-math introduction to econometrics especially useful for legal and policy scholars and for econonomics, finance, MBA, etc. students that find even Kennedy's book to be over their heads.

I don't know of any other book of its kind out there in the marketplace. If you're even vaguely intrigued, I suggest you buy this relatively inexpensive book. Frankly, it's a lot better than books ten times its price and size.

Learn the basics of econometrics
This book is about the wierd subject of econometrics. Econometrics iis a subject that uses math, economics, and statistics.They take an economic question and use data that some what relates to that to try to predict what is going to happen.If this interests you you might like this book.I have never read anything about econometrics before and this book helped to explain it.Sometimes the book would get really complicated and get really hard to follow.The key points in the book are in italics and the practical questions are in bold.These are really helpful.If you read this book make sure you understand how to read functions and how to work with them.You will also have to be able to follow multi-variable equations.You also need a basic understanding of integrals and what they do.If you can understand all of this math and are interested in learning about math in economics you might like this book.The final chapter was helpful becuase it looks at actual questions that have been answered with econometrics.This should it in action.Overall I think this book was informative, but really confusing. ... Read more

Product Description
In this new and expanding area, Tony Lancaster’s text is the first comprehensive introduction to the Bayesian way of doing applied economics.

• Uses clear explanations and practical illustrations and problems to present innovative, computer-intensive ways for applied economists to use the Bayesian method;


• Emphasizes computation and the study of probability distributions by computer sampling;
  
• Covers all the standard econometric models, including linear and non-linear regression using cross-sectional, time series, and panel data;
  
• Details causal inference and inference about structural econometric models;
  
• Includes numerical and graphical examples in each chapter, demonstrating their solutions using the S programming language and Bugs software
  
• Supported by online supplements, including Data Sets and Solutions to Problems, at www.blackwellpublishing.com/lancaster

Customer Reviews (5)

Best introductory Bayesian book
This is the best introductory Bayesian book for advanced undergraduate or first-year graduate students, especially in the social sciences.All concepts are explained in depth and illustrated with plenty of examples.I only wish that the publisher used a nicer-looking font for typesetting the book.

Very Good Start Point
This maybe the most straight forward and clearly presented introductory book to Bayesian Method in Econometrics.

Good book!
I'm taking an intro to Bayesian stats class and we are using the Carlin & Louis book -- it is a POS.

I found this book in the library and it is much better.It gives very clear explanations of the ideas, and lots of concrete worked examples.Props to the author.

Clear as crystal and plenty of workouts
This is as clear as crystal.It also has plenty of workouts.It is a very useful volume.

Great Book
If you are looking for a book for Bayesian estimation, this is the one. The first several chapters say it all about Bayesian methods. The rest of the book is applications. Very helpful reading for learning the method. ... Read more

Product Description
Covering all of the main topics, including panel data, that are expected in first econometrics course, Understanding Econometrics uses a new, understandable approach that explains theory intuitively in English, not through a series of mathematical derivations. Recognizing that most students will not be doing economics graduate work, but that they may well need to understand econometrics and how to apply it, this new text focuses on the connection between theory and practice.The text uses a simplified notation system and examples that are integrated with the explanations of the material, fostering comprehension so that the instructor can focus more readily on theory and applications. ... Read more

Customer Reviews (4)

An excellent book, from an excellent professor.
I think most texts on econometrics are heavy on math and light on memorable information. This text uses a conversational style to make its many points. The end result is that the book doesn't put you off the subject. I took a couple of courses with Dr. Halcoussis at Cal State Northridge, one of which was intro to econometrics. We used this book and it definitely made the subject easier to understand. Today, I use this book mainly as a reference on the subject, for a required course at a grad school I'm studying finance at. I think Dr. Halcoussis's econ courses seemed easier to me than other econ courses mainly because of the uncluttered language he used when he lectured. I think that same way of communicating shows up in his book, and that's why I recommend it.

Made learning stats painless
This book explains complicated topics in a clear and engaging manner. Math is not my strongest point but with the aid of this textbook I gained a very good understanding of the concepts and did well in my exam. The book has understandable definitions and helpful examples in every chapter. The friendly tone and voice make the text a pleasure to read. I think you could teach yourself stats using this book. Highly recommended.

Making Econometrics Easy
I have to admit, econometrics can be a very difficult subject to tackle.There are books that are very mathematial in their approach which can lead the reader astray.However, Dennis Halcoussis has found the bridge that allows the undergrad. to comprehend this most difficult subject.In the first few pages, Halcoussis even tells the reader about how other textbooks can simply loose students in theory and mathematics!This is very true, just go pick up one of many econometric textbooks.

After thumbing through Woolridge's Introduction to Econometrics, I knew that I needed another econometrics text that would serve as a better medium and would allow me to quickly understand topics like autocorrelation, heteroskedacity, and time-series data.Halcoussis has found the appropriate balance.He offers some of the math behind the theorems and regressions if the reader is interested.Although, this book is rock solid for reader comprehendibility, it does not allow the economics grad. student to see everything that he needs.So, it may be wise to supplement this text with another of the more theoretical and mathematical texts.But overall, this is the best text out there for the beginner.

A great book- not your standard boring text!
This book is a great text for a very difficult subject.It contains wonderful examples that are never boring and is a great starting foundation for beginning econometricians.It is very well written and teaches the subject with clarity. ... Read more

Product Description
Written by one of the world's leading researchers and writers in the field, Econometric Analysis of Panel Data has become established as the leading textbook for postgraduate courses in panel data.  This new edition reflects the rapid developments in the field covering the vast research that has been conducted on panel data since its initial publication. Featuring the most recent empirical examples from panel data literature, data sets are also provided as well as the programs to implement the estimation and testing procedures described in the book.  These programs will be made available via an accompanying website which will also contain solutions to end of chapter exercises that will appear in the book.

The text has been fully updated with new material on dynamic panel data models and recent results on non-linear panel models and in particular work on limited dependent variables panel data models.   ... Read more

Customer Reviews (7)

I simply cannot read it!
Well, it may be a very scholarly text on panel econometrics, but the cover promises otherwise. For a researcher with moderate knowledge of matrix algebra, and with no mood for diving into mathematical proofs, this book is practically useless. The examples are few and not explicit, and the text is not readable by anyone who is not the author and understands perfectly every little corner of the theory. A waste of money and I am planning to return it (maybe Amazon will give me the refund ;)

Need to rewrite
There is hardly much expository material on this topic without complex notation from line 2 onwards. This book is no exception. If the author wants to sell the book in significant numbers, it would be useful to write another book (based on this) for the applied economists. RATS has many helpful PRGs to solve the examples. The author may use them and draft his new book using these examples. Example EViews files will be also very useful. I wish this author all the bestEconometric Analysis of Panel Data

Another dimension
The fact that Prof. Baltagi goes in deep detail through his own (an extensive) work must be seen as a plus to those interested in becoming involved in research (specially in hypothesis testing). It is unfrequent that an author provides a guided tour through the backstage of his research papers, and Baltagi should be congratulated for this honest effort, it help me considerably with my own research. Whether it serves the purposes of casual readers looking for a broad introduction, is debatable (there were no book around when I learned this), in my opinion it does it.

Basically flawed
I have not read the second edition of this book, but my experience of the first edition when reading for my economics doctorate was that it was not an easy book to use. In particular, it had a rather ideosyncratic view of the literature. Certainly, it is curious that there are two pages of references to the Author's work and less that one of Maddala, Arrelano, Bond, Pesaran and Smith combined.

I found that "Analysis of Panel Data" by Cheng Hsiao combined with a few choice papers was a more useful strategy. The first edition of Hsiao has been a classic since it was released in the mid eighties and dispite it being an Econometric Society monograph, is much clearer and easier to understand. It has now been updated to include dynamic and discrete response models and will, I believe, remain the classic Panel Data text for years to come, although I have not read Arellano's book.

Mistake
The first sentence of the first comment apparently confuses"mere" with "slight". Also, his judgement is too harsh.The book definitely deserves two stars. ... Read more

Product Description
‘Econometric Analysis of Panel Data’ has become established as the leading textbook for postgraduate courses in panel data. This book is intended as a companion to the main text. The prerequisites include a good background in mathematical statistics and econometrics. The companion guide will add value to the existing textbooks on panel data by solving exercises in a logical and pedagogical manner, helping the reader understand, learn and teach panel data. These exercises are based upon those in Baltagi (2008) and are complementary to that text even though they are stand alone material and the reader can learn the basic material as they go through these exercises. The exercises in this book start by providing some background material on partitioned regressions and the Frisch-Waugh-Lovell theorem, showing the reader some applications of this material that are useful in practice. Then it goes through the basic material on fixed and random effects models in a one-way and two-way error components models, following the same outline as in Baltagi (2008). The book also provides some empirical illustrations and examples using Stata and EViews that the reader can replicate. The data sets are available on the Wiley web site (www.wileyeurope.com/college/baltagi). ... Read more

Customer Reviews (1)

An excellent companion
This is a fine companion to Panel Data Econometrics by Pr. Baltagi.
It helps the reader to understand the theoretical background of the panel data area.
It has several applications with copmuter output and that helps the applied scientists.
Very good job. ... Read more

Product Description
This second edition of the introduction to econometrics retains its comprehensive nature and while incorporating much new material. New to this edition are a complete treatment of Bayesian inference, sampling theory, an appendix on linear algebra, and a computer handbook. Presentation covers modern statistical models and focuses on the sampling theory process by which the data were generated, and the statistical consequences of alternative decisions under uncertainty. Asymptotics are introduced early on, for use throughout. At least one applied example is included to illustrate each model and there are also many analytical and numerical exercises. ... Read more

Customer Reviews (2)

Econometrics Book
This is an excellent book for a first year course at the Master's level.
The topics are are diverse and well explained. The best part about the book is that it prepares you well for intermediate level econometrics. All the derivations are in Matrix form, which is what it should be.
Overall, this is an excellent book for econometrician to get his fundamentals clear!

Introduction to the Theory and Practice of Econometrics
The book is excellent for the mathematically inclined student who masters well linear lagebra. It uses matrix notaion extensively and enables one to generalize results without getting lost. I used that book in myintermediate econometrics course at the undergraduate level. I am convincedit is a mistake to start learning econometrics by first using the algebraicapproach then the matrix approach. This only brings about confusion. Thisbook is excellent as when one thinks hard through theoretical results it ismuch easier to get a good grasp of the empirical results one finds inapplied work. I always consult this book first when I am a bit rusty inclassical and special topics in econometrics. The book is not up to date tomore modern econometrics such as cointegration and unit root analysis(those subjects don't exist in it). ... Read more

Product Description
This text, intended for both graduate students and professional researchers, is an effective, concise introduction to the structural econometrics of auctions. Tools from recent developments in theoretical econometrics are combined with established numerical methods to provide a practical guide to most of the main concepts in the empirical analysis of field data from auctions. Among other things, the text is remarkable for a large number of mathematical problems and computer exercises for which sample solutions are provided at the end of the book. In the case of the computer exercises, sample code written in Matlab provides a ready-made toolbox that allows readers to implement many existing empirical specifications efficiently.

In the first two chapters, the authors introduce several important issues in the analysis of field data from auctions and then go on to develop a simple theoretical model within the independent, private-values paradigm. In the third chapter, under several data-generating schemes, the authors outline empirical methods for analyzing data from single-unit Vickrey and English auctions, while in the fourth chapter, they outline methods for analyzing data from single-unit, Dutch, and first-price sealed-bid auctions. In the fifth chapter, the authors discuss theoretical issues important in the analysis of multi-good auctions, focusing on the analysis of multi-unit auctions, and then provide examples of some recent strategies designed to analyze data from these auctions. Included at the end are a number of appendixes that review the technical tools required in developing the topics treated in the text. A CD-ROM containing sample computer code and data sets accompanies the text. ... Read more

Product Description
This text, intended for both graduate students and professional researchers, is an effective, concise introduction to the structural econometrics of auctions. Tools from recent developments in theoretical econometrics are combined with established numerical methods to provide a practical guide to most of the main concepts in the empirical analysis of field data from auctions. Among other things, the text is remarkable for a large number of mathematical problems and computer exercises for which sample solutions are provided at the end of the book. In the case of the computer exercises, sample code written in Matlab provides a ready-made toolbox that allows readers to implement many existing empirical specifications efficiently.

In the first two chapters, the authors introduce several important issues in the analysis of field data from auctions and then go on to develop a simple theoretical model within the independent, private-values paradigm. In the third chapter, under several data-generating schemes, the authors outline empirical methods for analyzing data from single-unit Vickrey and English auctions, while in the fourth chapter, they outline methods for analyzing data from single-unit, Dutch, and first-price sealed-bid auctions. In the fifth chapter, the authors discuss theoretical issues important in the analysis of multi-good auctions, focusing on the analysis of multi-unit auctions, and then provide examples of some recent strategies designed to analyze data from these auctions. Included at the end are a number of appendixes that review the technical tools required in developing the topics treated in the text. A CD-ROM containing sample computer code and data sets accompanies the text. ... Read more

Customer Reviews (1)

I've got the wrong order
Dear seller, you have sent me the text book (wich I already have) when I've paid you for the the manual solution. you sent me the wrong order...this is really upsetting. I needed this manual urgently...what can I say but... ... Read more

Product Description
Econometric Theory presents a modern approach to the theory of econometric estimation and inference, with particular applications to time series. An ideal reference for practitioners and researchers, the book is also suited for advanced two-semester econometrics courses and one-semester regression courses. Based on lectures originally given to graduates at the London School of Economics, the book applies recent developments in asymptotic theory to derive the properties of estimators when the model is only partially specified. Topics covered in depth include the linear regression model, dynamic modeling, simultaneous equations, optimization estimators, hypothesis testing, and the theory of nonstationary time series and cointegration. ... Read more

Customer Reviews (3)

An Excellent first Step for Modelling Time Series.
The book contains the classic topics in econometric theory regression, inference, etc, but the goal of this book is that the book is an introduction to the actual econometric methods for modeling time series, I recommended read this book before the book of hendry (Dynamic econometrics), the book not have exercises, the books includes all classical models in dynamical forms and also the chapters of optimization are very illustrative of the techniques in estimation with Maximun Likelihood, the book needs work but the recompense is great.

Painful to read
I don't see how it can be an ideal reference for practitioners and researchers as claimed in the editorial note.For practitioners, all the results have to be easily looked-up.For the researchers, the books has to be theorectical and advanced.You won't find these in this book.The author is very genious and tries very hard to explain the ideas and logics behind the scence.But the wordings are vague in some stage that it really very difficult to follow.Why can't he just express them in precise mathematical form?There are a lot printing mistakes and some are critical.However, this book is full of insights if you can pick up them.Good luck!

An excellent tome, but ...
... but there is a mathematical error on page 347.Two plus two makefive, not four, as Professor Davidson claims.Otherwise, not a bad effort. ... Read more

Product Description

This book surveys the theories, techniques (model-building and data collection), and applications of econometrics. KEYTOPICS: It focuses on those aspects of econometrics that are of majorimportance to readers and researchers interested in performing, evaluating,or understanding econometric studies in a variety of areas. It reviewsmatrix notation and the use of multivariate statistics; discusses thespecification of the model and the development of data for its estimation;covers recent developments in econometric models, techniques, andapplications; explains the estimation of single-equation models; andprovides case studies of the applications of econometrics to a wide array ofareas — including traditional areas such as the estimation of demandfunctions and production functions, and macroeconometric models.

Product Description
Time series econometrics is a rapidly evolving field.In particular, the cointegration revolution has had a substantial impact on applied analysis. As a consequence of the fast pace of development there are no textbooks that cover the full range of methods in current use and explain how to proceed in applied domains.This gap in the literature motivates the present volume.The methods are sketched out briefly to remind the reader of the ideas underlying them and to give sufficient background for empirical work. The treatment can also be used as a textbook for a course on applied time series econometrics. The coverage of topics follows recent methodological developments. Unit root and cointegration analysis play a central part. Other topics include structural vector autoregressions, conditional heteroskedasticity and nonlinear and nonparametric time series models. A crucial component in empirical work is the software that is available for analysis. New methodology is typically only gradually incorporated into the existing software packages. Therefore a felxible Java interface has been created that allows readers to replicate the applications and conduct their own analyses. ... Read more

Customer Reviews (1)

Good, but a tough read
A well written book which provides numerous refernces to freely available software.However, this book is certainly not meant for someone wanting a fast and gentle introduction to econometrics.Equations and models are presented with full theoretical exposition, however the notation used is extremely complex and the explanations are very terse.
This reads more like a book aimed for a graduate student and less for a financial practioner looking for some insight into time series. ... Read more

Product Description
Every major econometric method is illustrated by a persuasive, real life example applied to real data.
* Explores subjects such as sample design, which are critical to practical application econometrics. ... Read more

Customer Reviews (6)

it is good
The book is in very good condition with only a few pencil mark on several pages, and the shipping is pretty fast.

Tough book for undergrads
I just finished my sophomore year in college pursuing an undergraduate degree in economics. I consider myself a responsible student, one who takes initiative in his schoolwork, even when the books sometimes don't give you a straight forward answer to an example or straight forward logic in the text.

This book gave a minimal number of examples, and they weren't at all applicable to the coursework or the coinciding material in the book. They really didn't even relate to the text at all, and didn't help give any insight into the material. If you're a college professor looking for a college Econometrics textbook to use, don't use this one, for your students sake.

Pathetic - overpriced and without substance
The author ought to be ashamed of himself. I am a student of econometrics and have studied from various books. This book is a total rip -off. Its not even worth 1 $ 55 cents. I am aghast that the author has the temerity to charge $155 for this ridiculously thin on content book. I strongly recommend books by Schaums series which are full of substance and are extremely affordable.

It's not bad, but not great either
The text, as others said, has great examples. It is clear and concise. And considering the subject matter, it's not quite as dry as you might expect (not a page-turner by any means, but it's readable). There area a few areas where it fails, however. 1) There could be more examples, and more variation. 2) There are too many typos, some of which are important. 3) There are no answers to the homework/practice problems.

As a student, the last one was incredibly annoying. The book contains no answers section, so it makes it hard to find material to practice before exams and quizzes. It would only take a few (10ish?) extra pages to include answers. For a book that is primarily going to be used as a class textbook, that's unacceptable.

Good in what it does, but it needs more.

Helpful text
I actually very much liked this textbook. The examples are both interesting and enlightening, and the explanations clear and easy to follow. As the title suggests, it is tailored to a course with a heavy math component, and the appendix, in particular, provides a good guide to equations, derivations, etc. I have also found it to be extremely useful in later econometrics applications, as its logical organization makes it very easy to find exactly the information you need. ... Read more

Product Description
The classical econometric approach to modelling has been to specify a model up to a finite-dimensional parameter vector, and estimation and testing techniques have been widely used on these finite-dimensional parameter spaces. In the last fifteen years or so however, new methods have been developed to allow more flexible models which utilise infinite-dimensional parameters. Simultaneously, methods of moments estimation have also become more widely used and applied. In this book, the author provides a survey of these modern techniques and how they are applied to limited dependent variable (LDV) models. As well as covering many classical approaches, the topics covered include: instrumental variable estimation, the generalized method of moments, extremum estimators, methods of simulated moments, minimum distance estimation, nonparametric density and regression function estimation, and semiparametric methods for LDV. As a result, many graduate students and research workers will appreciate this up-to-date account. An appendix describes the use of the software package GAUSS to implement these methods in conjunction with some real data sets. ... Read more

Customer Reviews (2)

A Modern Counterpart of the Maddala's Book
Ph.D students and researchers in applied microeconomics will enjoy this book, because this book is, to my knowledge, the first reasonably coherent and complete overview of semi-(non)parametric microeconometrics.

translated from Kwantitatieve Methoden 55, 1997 May.

a useful book for an otherwise daunting field
The book does a very good job of surveying the literature onsemiparametric methods for modeling choice. This is an important field, andis not well covered in other textbooks. Of course the book requires somesophistication on the part of the user, namely a graduate level backroundin econometrics. ... Read more

Product Description

Econometrics: A Modern Introduction conditions students to think like econometricians right from the start by opening with a unique Monte Carlo exercise, and connects econometrics to economic theory through a series of exemplary econometric analyses presented throughout the text.  Students learn to critically evaluate economic conclusions through the use of original data and compelling topics such as discrimination, demand for cocaine, capital punishment, and infant mortality. 

Customer Reviews (2)

Excellent Text
I took this class with Professor Murray and the text, like the teacher, specializes in bringing the sometimes esoteric world of mathematical economic analysis down to an easily accessible level without watering down the material.I have since taken another econometrics class, and the text, while based on applied cases, fell short of what is presented here.Truly a wonderful text for both the undergrad non-math type as well as a more in depth graduate school introduction.Highly recommended!

Worth the price
For those looking for the intuition behind econometrics, this textbook delivers.Not that there isn't any math, it is just that the understanding the theory is the priority.Obviously, a lot of work went into the refining the presentation, therefore we cannot begrudge the authour the rewards for his efforts. ... Read more

Product Description
Applied work in business and economics often require a solid understanding of econometric methods to support decision making. This book provides this, encouraging an active engagement with these methods by means of examples and exercises, so that the student develops a working understanding and hands-on experience with current day econometrics. ... Read more

Customer Reviews (2)

very academic
Great book for the academic world, includes the demonstrations of every procedure. Lots of algebric notations, so you must be very patient and focused while reading it.

for economists
good printing quality, but personally I don't like the style of editing. Nevertheless the material is also good for advanced scholars ... Read more

Product Description
In the theory and practice of econometrics the model, the method and the data are all interdependent links in information recovery-estimation and inference. Seldom, however, are the economic and statistical models correctly specified, the data complete or capable of being replicated, the estimation rules ‘optimal and the inferences free of distortion. Faced with these problems, Maximum Entropy Economeirics provides a new basis for learning from economic and statistical models that may be non-regular in the sense that they are ill-posed or underdetermined and the data are partial or incomplete. By extending the maximum entropy formalisms used in the physical sciences, the authors present a new set of generalized entropy techniques designed to recover information about economic systems. The authors compare the generalized entropy techniques with the performance of the relevant traditional methods of information recovery and clearly demonstrate theories with applications including

• Pure inverse problems that include first order Markov processes, and input-output, multisectoral or SAM models to
• Inverse problems with noise that include statistical models subject to ill-conditioning, non-normal errors, heteroskedasticity, autocorrelation, censored, multinomial and simultaneous response data, as well as model selection and non-stationary and dynamic control problems