Learning and Practicing Econometrics this question feed

asked by selena on November 15, 2006 10:55 AM
Designed to promote students' understanding of econometrics and to build a more operational knowledge of economics through a meaningful combination of words, symbols and ideas. Each chapter commences in the way economists begin new empirical projects--with a question and an economic model--then proceeds to develop a statistical model, select an estimator and outline inference procedures. Contains a copious amount of problems, experimental exercises and case studies.


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This book is very good at giving brand new students of econometrics the intuition behind concepts. At the same time, it does not ignore the mathematics (calculus and linear algebra) and thus it is a good preparation for Greene.
One thing I don't like about this book is notation. For example, the book refers to the mean as beta instead of mu. I do prefer Gujarati?s notation much better.
It would also be very nice to have an update of this great textbook since it was written in 1993.

Thank you,

reviewed by noreason on November 24, 2006 9:44 AM

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Instills understanding by slowly going through derivations and principles, while at the same time motivating econometric analysis by referring to economic situations where it can be used. Much better than Gujarati (which tends to be a "cookery book" rather than giving an integrated treatment).

The only weakness of the book is that it focusses almost exclusively on estimation under the assumption that error terms are identicallly and independently distributed (iid). However, all other undergraduate econometric textbooks (and a lot of graduate ones too!) display this preoccupation, so Griffiths et al are no worse than their rivals.

An update to this book would also be good, as it's nearly 10 years old now.

However, its good points far outweigh these weaknesses.

reviewed by crick on November 24, 2006 5:13 PM

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This book is excellent for beginners in econometrics. It is particuarly useful for people not wanting to know all the mathematics ( algebra and matrix approach) behind econometrics. Students doing term papers find it very practical as they want to know how to go from theoretical econometrics to empirical econometrics.
reviewed by willie on November 24, 2006 8:37 PM

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This is a great beginner's textbook. Whereas some, like Greene, are going to be too hard for some beginners, and others like Gujarati are far too basic, this book strikes an excellent balance. It's best feature is all the worked examples is gives you, including the raw data used, allowing you to enter the data into a statistical package and make sure you get the same result. This is a great confidence builder!
reviewed by titanium7 on November 26, 2006 1:27 AM

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