Description
The modern approach of this text recognizes that econometrics has moved from a specialized mathematical description of economics to an applied interpretation based on empirical research techniques. It bridges the gap between the mechanics of econometrics and modern applications of econometrics by employing a systematic approach motivated by the major problems facing applied researchers today. Throughout the text, the emphasis on examples gives a concrete reality to economic relationships and allows treatment of interesting policy questions in a realistic and accessible framework.
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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)
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