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Introductory Econometrics: A Modern Approach, Fifth Edition

New edition forthcoming

Jeffrey M. Wooldridge
Publisher: South-Western (Cengage Learning)
Copyright: 2012
ISBN-13: 978-1-111-53104-1
Pages: 881; hardcover

Comment from the Stata technical group

The fifth edition of Jeffrey Wooldridge’s textbook, Introductory Econometrics: A Modern Approach, lives up to its subtitle in its choice of topics and its treatment of standard material.

Wooldridge recognizes that modern econometrics involves much more than ordinary least squares (OLS) with a few extensions to handle the special cases commonly encountered in econometric data. In addition to chapters on OLS, he includes chapters on current techniques of estimation and inference for time-series data, panel data, limited dependent variables, and sample selection.

In his treatments of OLS and two-stage least squares, Wooldridge breaks new ground by concentrating on advanced statistical concepts instead of matrix algebra. A traditional approach to introductory econometrics would use advanced sections to explain matrix algebra and its applications in econometrics. In contrast, Wooldridge uses the advanced sections of his text to introduce recently developed statistical concepts and techniques. This approach leads to a text with greater breadth than is usual in books of this type. This book is equally useful for advanced undergraduate study, as the basis of a survey course at the graduate level, or as a conceptual supplement to advanced courses.

The fifth edition contains a new section that highlights the differences between a model and an estimator as well as expanded treatments of models for proportional dependent variables, of using proxy variables to model unobserved confounders, and of least absolute-deviations estimators. The result is that an excellent introductory book has been made even better.

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