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Overview
The second Asia-Pacific edition of Introductory Econometrics is the only resource in the market designed specifically for introductory second-year students. The concise structure and simplified explanations provide a clear introduction to the subject – understanding how econometrics can answer questions in business, policy evaluation and forecasting – and bridges students’ transition from basic statistics into econometrics.
The text supports student understanding by introducing background material on introductory mathematics, probability and statistics, and provides opportunities to recall prior learning and refine fundamental skills before progressing to the more advanced topics. The inclusion of data sets from Australia and New Zealand, as well as from the Asia-Pacific region add local context and provide examples that resonate with students.
- NEW Part 4, 'Additional topics' includes chapters on panel data models, limited dependent variable models and sample selection corrections, and an introduction to machine learning in econometrics
- NEW local data sets provide a practical approach to teaching this highly mathematical subject and demonstrate the application of econometrics to real-world problems that students can relate to
- NEW expanded content in Part 3 on time series
- NEW learning objectives outline the outcomes of each chapter
- NEW student solutions manual allows students to mark their own work when completing revision
- Part 1 offers background material on introductory mathematics, probability and statistics, providing context for students who have not previously been introduced to this material, or as a brief review for those who have
- Each chapter includes local examples and datasets that provide a practical approach to teaching this highly mathematical subject and demonstrate the application of econometrics to real-world problems that students can relate to
- End-of-chapter problems and computer exercises are oriented toward empirical work, rather than complicated derivations, so that students can reason carefully based on what they have learned
- Core topics are supplemented by additional special interest topics introduced in Part 4: pooled and panel data methods, limited dependent variable models and big data with machine learning appropriately orient the students to further their studies to suit the analytical skill requirements of the business world
- A set of multiple choice questions are included in every chapter to allow for revision and to reinforce learning
1. The nature of Econometrics
2. Basic mathematical tools
3. Statistical principles
Part 2: Regression analysis with cross-sectional data
4. The simple regression model
5. Multiple regression analysis: Estimation
6. Multiple regression analysis: Inference
7. Model specification
8. Multiple regression analysis with qualitative information: Binary (or dummy) variables
9. Heteroskedasticity
Part 3: Regression analysis with time series data
10. Basic regression analysis with time series data
11. Serial correlation and heteroskedasticity in time series regressions
12. Modelling highly persistent time series data
Part 4: Additional topics
13. Panel data models
14. Limited dependent variable models and sample selection corrections
15. An introduction to machine learning in econometrics
Appendices: Statistical tables