A Practical Guide to Using Econometrics

Using Econometrics: A Practical Guide offers students an innovative introduction to elementary econometrics. Through real-world examples and exercises, the book covers the topic of single-equation linear regression analysis in an easily understandable format. The Seventh Edition is appropriate for all levels: beginner econometric students, regression users seeking a refresher, and experienced practitioners who want a convenient reference. Praised as one of the most important texts in the last 30 years, the book retains its clarity and practicality in previous editions with a number of substantial improvements throughout.• The book’s intuitive approach omits matrix algebra and relegates proofs and calculus to the footnotes or exercises to make core concepts easier to grasp.• An example-oriented approach helps students practice and understand applied economics.• New! Expanded econometric content includes new tests and procedures, such as the Breusch-Pagan test and the Weinstein-Prais Approach to Generalized Least Squares. • New! Stata, the economic software package of choice among economists, is used throughout the text. All text examples and exercises are estimated with Stata, and an explanation of the software is included in the appendix and on the website.• Interactive Regression Learning Exercises help students simulate economic analysis by giving them feedback on various decisions without much computer time or instructor supervision.• Updated! Answers to exercises in the text have been tripled and can be found in the appendices, allowing students to learn on their own.Table of Contents1. An Overview of Regression Analysis2. Ordinary Least Squares3. Learning to Use Regression Analysis4. The Classical Model5. Hypothesis Testing and Statistical Inference6. Specification: Choosing the Independent Variables7. Specification: Choosing a Functional Form8. Multicollinearity9. Serial Correlation10. Heteroscedasticity11. Running Your Own Regression Project12. Time-Series Models13. Dummy Dependent Variable Techniques14. Simultaneous Equations15. Forecasting16. Experimental and Panel Data Appendix A: Answers Appendix B: Statistical Tables