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Introduce your students to how empirical researchers actually think about and apply econometric methods with the practical, professional approach in wooldridge`s introductory econometrics: a modern approach, 5E. Unlike traditional texts, this book`s unique presentation demonstrates how econometrics can be used to empirically study and answer questions across a variety of disciplines. A reflection of how econometric instruction has evolved, introductory econometrics is organized around the type of data being analyzed with a systematic approach, where assumptions are introduced only as they are needed to obtain a certain result. This approach simplifies the exposition and makes the text`s material easier for students to comprehend. Packed with timely, relevant applications the text emphasizes examples that have implications for policy or provide evidence for or against economic theories. More than 100 intriguing data sets are now available in six formats for your teaching flexibility. A wealth of new and revised instructor resources, written by the author, is provided at no cost to the instructor. The instructor`s manual with solutions contains answers to all problems and exercises, teaching tips on how to present the material in each chapter and also sources for each of the data files, with many suggestions on how to use them on problem sets, exams and term papers. Powerpoint slides and scientific word slides are also new to this edition. The updated data set handbook is also available to help instructors present the latest emerging developments in the field. Give your students a full understanding of how econometrics is genuinely useful for answering questions in business, policy evaluation and forecasting environments with introductory econometrics: a modern approach, 5E.
Features:
Comprehensive coverage ensures understanding in critical areas of econometrics. This edition continues to offer trusted, comprehensive coverage with expanded discussions of both the basics and advanced applications of dummy variables material on prediction after retransformation expanded discussions of influential observations, weighted least squares and least absolute deviations and coverage of weak instruments.
Practical application prepares students to use econometrics in business today. This unique, comprehensive text applies econometrics to actual real business problems, demonstrating how each method answers a particular issue facing researchers who are analyzing non-experimental data.
Unique organization pioneered by the author clearly presents applications for today`s students. This comprehensive econometrics text pioneered the approach of explicitly covering cross-sectional applications first, followed by time series applications, and, ultimately, panel data applications in the advanced chapters.
Treatment of variables ensures student comprehension. This book treats explanatory variables, along with the dependent variable, as outcomes of random variables.
Expansive data sets offer varied opportunity for hands-on practice. This edition`s large and varied data sets in six different formats give your students practical experience working with statistics in an engaging assortment of real business situations.
Up-to-date coverage highlights the latest emerging developments in the field. Updated examples throughout this edition and coverage of the latest developments from the field clearly illustrate how chapter concepts apply to actual practice in today`s business world.
New, additional data set formats introduce students to data sets in six different formats. This edition adds the r data set as an additional format for viewing data. In response to popular demand, this edition also provides the minitab format. with close to 100 data sets in six different formats, including R, STATA, MINITAB, Microsoft Excel, Text and Reviews, instructors have the flexibility and instant access needed to present the formats preferred while teaching. For your convenience, all data sets are available on the book`s companion website.
New content for data sets provides variety of engaging statistics. New sets highlight productivity and salary statistics for economics professors in the big ten. This edition also includes a large data set on women`s labor supply and fertility decisions a current data set on elementary school teacher salaries and benefits as well as student-teacher ratios and spending and time series data sets on economic activity, the federal funds rate and minimum wages.
New powerpoint slides bring lectures to life while visually clarifying concepts. Exceptional new powerpoint presentation slides, created specifically for this edition, help you create engaging, memorable lectures. You`ll find teaching slides for each chapter in this edition. Slides are particularly useful for clarifying advanced topics in part 3. You can modify or customize the slides for your specific course. Powerpoint slides are available for convenient download on the instructor-only, password-protected portion of the book`s companion website.
New scientific word slides reinforce text concepts and lecture presentations. Created by text author jeffrey m. Wooldridge, new scientific word slides reinforce the book`s powerpoint slides while highlighting the benefits of scientific word, the application created by mackichan software, Inc. For specifically composing mathematical, scientific and technical documents using latex typesetting. These animated slides are based on the text author`s actual successful lectures and are available for convenient download on the password-protected section of the book`s companion website.
New updated data set handbook makes use of extensive data sets simple and convenient. This unique handbook, created by author jeffrey m. Wooldridge, lists all data sets in the latest edition of the text for quick reference. Each data set entry indicates the original source, when possible lists where it appears in the text and when applicable, guides you in using the data set to generate new homework exercises, exam problems, or term projects. The author also provides suggestions on improving the data sets in this detailed resource that is available on the book`s companion website.
New revised instructor`s manual with solutions. The instructor`s manual with solutions contains answers to all exercises, as well as teaching tips on how to present the material in each chapter. The instructor`s manual also contains sources for each of the data files, with many suggestions for how to use them on problem sets, exams and term papers. The instructor`s manual is available for convenient download on the password-protected section of the book`s companion website.
Table of Contents:
The Nature of Econometrics and Economic Data
Part I: Regression Analysis with Cross-Sectional Data
The Simple Regression Model
Multiple Regression Analysis: Estimation
Multiple Regression Analysis: Inference
Multiple Regression Analysis: OLS Asymptotics
Multiple Regression Analysis: Further Issues
Multiple Regression Analysis with Qualitative Information: Binary (or Dummy) Variables
Heteroskedasticity
More on Specification and Data Problems
Part II: Regression Analysis with Time Series Data
Basic Regression Analysis with Time Series Data
Further Issues in Using OLS with Time Series Data
Serial Correlation and Heteroskedasticity in Time Series Regressions
Part III: Advanced Topics
Pooling Cross Sections across Time: Simple Panel Data Methods
Advanced Panel Data Methods
Instrumental Variables Estimation and Two Stage Least Squares
Simultaneous Equations Models
Limited Dependent Variable Models and Sample Selection Corrections
Advanced Time Series Topics
Carrying out an Empirical Project
Appendices
Appendix A: Basic Mathematical Tools
Appendix B: Fundamentals of Probability
Appendix C: Fundamentals of Mathematical Statistics
Appendix D: Summary of Matrix Algebra
Appendix E: The Linear Regression Model in Matrix Form
Appendix F: Answers to Chapter Questions
Appendix G: Statistical Tables
References
Glossary
IndexISBN - 9788131524657
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