Principles of Econometrics
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Principles of Econometrics

R. Carter Hill, William E. Griffiths, Guay C. Lim

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eBook - PDF

Principles of Econometrics

R. Carter Hill, William E. Griffiths, Guay C. Lim

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About This Book

Principles of Econometrics, Fifth Edition, is an introductory book for undergraduate students in economics and finance, as well as first-year graduate students in a variety of fields that include economics, finance, accounting, marketing, public policy, sociology, law, and political science. Students will gain a working knowledge of basic econometrics so they can apply modeling, estimation, inference, and forecasting techniques when working with real-world economic problems. Readers will also gain an understanding of econometrics that allows them to critically evaluate the results of others' economic research and modeling, and that will serve as a foundation for further study of the field.

This new edition of the highly-regarded econometrics text includes major revisions that both reorganize the content and present students with plentiful opportunities to practice what they have read in the form of chapter-end exercises.

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Information

Publisher
Wiley
Year
2018
ISBN
9781119342854
Edition
5
Topic
Economics
Subtopic
Econometrics
Index
Economics
8
CHAPTER
1
An
Introduction
to
Econometrics
9,000
10,000
11,000
12,000
13,000
14,000
15,000
16,000
17,000
1992
1996
2000
2004
2008
2012
Year
GDP
2016
FIGURE
1.1
Real
U.S.
GDP,
1994ā€“2014.
3
TABLE
1.1
U.S.
Annual
GDP
(Billions
of
Real
2009
Dollars)
Year
GDP
2006
14,613.8
2007
14,873.7
2008
14,830.4
2009
14,418.7
2010
14,783.8
2011
15,020.6
2012
15,354.6
2013
15,583.3
2014
15,961.7
1.5.2
Cross-Section
Data
A
cross-section
of
data
is
collected
across
sample
units
in
a
particular
time
period.
Examples
are
income
by
counties
in
California
during
2016
or
high
school
graduation
rates
by
state
in
2015.
The
ā€œsample
unitsā€
are
individual
entities
and
may
be
ļ¬rms,
persons,
households,
states,
or
countries.
For
example,
the
CPS
reports
results
of
personal
interviews
on
a
monthly
basis,
covering
items
such
as
employment,
unemployment,
earnings,
educational
attainment,
and
income.
In
Table
1.2,
we
report
a
few
observations
from
the
March
2013
survey
on
the
variables
RACE,
EDUCATION,
SEX
,
and
WAGE
(hourly
wage
rate).
4
There
are
many
detailed
questions
asked
of
the
respondents.
............................................................................................................................................
3
Source:
www.bea.gov/national/index.htm
4
In
the
actual
raw
data,
the
variable
descriptions
are
coded
diļ¬€erently
to
the
names
in
Table
1.2.
We
have
used
shortened
versions
for
convenience.

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