Nowadays applied work in business and economics requires a solid
understanding of econometric methods to support decision-making.
Combining a solid exposition of econometric methods with an
application-oriented approach, this rigorous textbook provides
students with a working understanding and hands-on experience of
current econometrics. Taking a 'learning by doing' approach, it
covers basic econometric methods (statistics, simple and multiple
regression, nonlinear regression, maximum likelihood, and
generalized method of moments), and addresses the creative process
of model building with due attention to diagnostic testing and
model improvement. Its last part is devoted to two major
application areas: the econometrics of choice data (logit and
probit, multinomial and ordered choice, truncated and censored
data, and duration data) and the econometrics of time series data
(univariate time series, trends, volatility, vector
autoregressions, and a brief discussion of SUR models, panel data,
and simultaneous equations). * Real-world text examples and
practical exercise questions stimulate active learning and show how
econometrics can solve practical questions in modern business and
economic management. * Focuses on the core of econometrics,
regression, and covers two major advanced topics, choice data with
applications in marketing and micro-economics, and time series data
with applications in finance and macro-economics. *
Learning-support features include concise, manageable sections of
text, frequent cross-references to related and background material,
summaries, computational schemes, keyword lists, suggested further
reading, exercise sets, and online data sets and solutions. *
Derivations and theory exercises are clearly marked for students in
advanced courses. This textbook is perfect for advanced
undergraduate students, new graduate students, and applied
researchers in econometrics, business, and economics, and for
researchers in other fields that draw on modern applied
econometrics.
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