Introductory Econometrics: A Modern Approach

by Jeffrey M. Wooldridge

Overview

Gain an understanding of how econometrics can answer today's questions in business, policy evaluation and forecasting with Wooldridge's INTRODUCTORY ECONOMETRICS: A MODERN APPROACH, 7E. Unlike traditional texts, this book's practical, yet professional, approach demonstrates how econometrics has moved beyond a set of abstract tools to become genuinely useful for answering questions across a variety of disciplines. The author has organized the book's presentation around the type of data being analyzed with a systematic approach that only introduces assumptions as they are needed. This makes the material easier to understand and, ultimately, leads to better econometric practices. Packed with relevant applications, the text incorporates more than 100 data sets in different formats. Updates introduce the latest developments in the field, including the recent advances in the so-called "causal effects" or "treatment effects," to provide a complete understanding of the impact and importance of econometrics today.

Product Details

ISBN-13:	9781337558860
Publisher:	Cengage Learning
Publication date:	01/04/2019
Series:	MindTap Course List
Edition description:	7th ed.
Pages:	816
Product dimensions:	8.30(w) x 10.20(h) x 1.40(d)

About the Author

Jeffrey M. Wooldridge is University Distinguished Professor of Economics at Michigan State University, where he has taught since 1991. From 1986 to 1991, he was an assistant professor of economics at the Massachusetts Institute of Technology. He received his bachelor of arts, with majors in computer science and economics, from the University of California, Berkeley, in 1982, and received his doctorate in economics in 1986 from the University of California, San Diego. He has published more than 60 articles in internationally recognized journals, as well as several book chapters. He is also the author of Econometric Analysis of Cross Section and Panel Data, second edition. His awards include an Alfred P. Sloan Research Fellowship, the Plura Scripsit award from Econometric Theory, the Sir Richard Stone prize from the Journal of Applied Econometrics, and three graduate teacher-of-the-year awards from MIT. He is a fellow of the Econometric Society and of the Journal of Econometrics. He is past editor of the Journal of Business and Economic Statistics, and past econometrics coeditor of Economics Letters. He has served on the editorial boards of Econometric Theory, the Journal of Economic Literature, the Journal of Econometrics, the Review of Economics and Statistics, and the Stata Journal. He has also acted as an occasional econometrics consultant for Arthur Andersen, Charles River Associates, the Washington State Institute for Public Policy, Stratus Consulting, and Industrial Economics, Incorporated.

Table of Contents

Chapter 1	The Nature of Econometrics and Economic Data	1
Part 1	Regression Analysis with Cross-Sectional Data	21
Chapter 2	The Simple Regression Model	22
Chapter 3	Multiple Regression Analysis: Estimation	68
Chapter 4	Multiple Regression Analysis: Inference	116
Chapter 5	Multiple Regression Analysis: OLS Asymptotics	166
Chapter 6	Multiple Regression Analysis: Further Issues	182
Chapter 7	Multiple Regression Analysis with Qualitative Information: Binary (or Dummy) Variables	218
Chapter 8	Heteroskedasticity	257
Chapter 9	More on Specification and Data Problems	289
Part 2	Regression Analysis with Time Series Data	323
Chapter 10	Basic Regression Analysis with Time Series Data	324
Chapter 11	Further Issues in Using OLS with Time Series Data	360
Chapter 12	Serial Correlation and Heteroskedasticity in Time Series Regressions	391
Part 3	Advanced Topics	425
Chapter 13	Pooling Cross Sections Across Time. Simple Panel Data Methods	426
Chapter 14	Advanced Panel Data Methods	461
Chapter 15	Instrumental Variables Estimation and Two Stage Least Squares	484
Chapter 16	Simultaneous Equations Models	525
Chapter 17	Limited Dependent Variable Models and Sample Selection Corrections	553
Chapter 18	Advanced Time Series Topics	600
Chapter 19	Carrying out an Empirical Project	646
	Appendices
Appendix A	Basic Mathematical Tools	675
Appendix B	Fundamentals of Probability	696
Appendix C	Fundamentals of Mathematical Statistics	731
Appendix D	Summary of Matrix Algebra	776
Appendix E	The Linear Regression Model in Matrix Form	787
Appendix F	Answers to Chapter Questions	802
Appendix G	Statistical Tables	815
	References	823
	Glossary	831
	Index	849

Editorial Reviews

Though it focuses on the use of cross-sectional data and time series data for regression analysis, this textbook also addresses advanced topics like panel data methods, instrumental variables estimation, simultaneous equations, limited dependent variable models, and the process of empirical research. Appendixes contain basic information on mathematical tools, probability, mathematical statistics, matrix algebra, and linear regression, as well as statistical tables and a glossary. Woolridge teaches at Michigan State University. Annotation c. Book News, Inc., Portland, OR (booknews.com)

Booknews

"It is the best book on applied econometrics on the market. Well written and "modern" in the sense that he devotes coverage to topics and techniques relevant to the current state of practice in econometrics."


"Hands down, the data analysis examples in the text and the practice problems are what I like most about the text. They are fantastic, and many of our Economics students list Econometrics as their favorite course because these problems allow them to apply economic reasoning to actual data."

From the Publisher