Introductory Econometrics: A Modern Approach [Hardcover] Author: Jeffrey M. Wooldridge | Language: English | ISBN:
1111531048 | Format: PDF, EPUB
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Discover how empirical researchers today actually think about and apply econometric methods with the practical, professional approach in Wooldridge's INTRODUCTORY ECONOMETRICS: A MODERN APPROACH, 5E. Unlike traditional books on the subject, INTRODUCTORY ECONOMETRICS' unique presentation demonstrates how econometrics has moved beyond just a set of abstract tools to become a genuinely useful tool for answering questions in business, policy evaluation, and forecasting environments. Organized around the type of data being analyzed, the book uses a systematic approach that only introduces assumptions as they are needed, which makes the material easier to understand and ultimately leads to better econometric practices. Packed with timely, relevant applications, the text emphasizes incorporates close to 100 intriguing data sets in six formats and offers updates that reflect the latest emerging developments in the field.
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- Hardcover: 912 pages
- Publisher: Cengage Learning; 5 edition (September 26, 2012)
- Language: English
- ISBN-10: 1111531048
- ISBN-13: 978-1111531041
- Product Dimensions: 9.2 x 7.4 x 1.5 inches
- Shipping Weight: 3.2 pounds (View shipping rates and policies)
Wooldridge does a good job introducing the topics and keeping the subject focused. The practical applications and explanations are concise and clear. And the data sets are lots of fun! I can't stress how much fun it was running real regressions on interesting topics.
For the first six weeks of the semester, I treated my Econometrics class like it was a math class; and that may have been a mistake. In math classes I try to teach myself the intuition behind the various equations and theories because I know I'm bound to forget most equations, proofs, and derivations I don't regularly use two weeks after the final. Wooldridge glosses over much of the intuition behind the material or relegates it to the appendices---meaning I have one more week of knowing econometrics. Even more annoying, some of the derivations in the appendices yield little intuition and rely on fancy algebra that made this student on a few occasions wonder in frustration, "How did you come up with that?!? " Why bother learning (or printing) a derivation if the key is remembering a super fancy and obscure way to add zero? Sadly, I ended up treating econometrics more like a chemistry course. This strict applied approach forced me to adopt suboptimal study habits such as memorizing various models and relying on note cards during exams. Please note my clear bias: my favorite course thus far in college was real analysis and I love economic theory.
For those of us taking Econometrics at university, this book's intended audience, the cost of the book is almost negligible compared to the expense of university. If an extra $50 makes one class more intuitive or better cements the material, so be it.
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