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eminkadtan · 08-11-2008, 03:18 PM

I need to prepare an exam and learn Econometrics in a very short time. I have some basic knowledge about metric. Which book do you recommend

?

jeeves0923 · 08-11-2008, 03:22 PM

Hmm... I tend to like Wooldridge better than Gujarati. If you are really interested in nuts and bolts of why we use these tools, analysis of assumptions and the really good stuff, I like Spanos better than either. He might not be the best choice for cramming though.

philecon · 08-11-2008, 03:34 PM

My friends who are taking econometrics this sem use both Gujarati and Wooldridge, and according to them, Wooldridge's better in terms of clarity. He seems more down-to-earth, or so they say. But, if you're going to review for a test, maybe you could find something more concise, which explains things clearly.

I read in one of the threads that they recommend either Peter Kennedy or Marno Verbeek's book for metrics. Don't take my word for it, though. I'm just about to take the subject next term.

asianeconomist · 08-11-2008, 03:41 PM

Wooldridge is a really accessible text, I strictly prefer it to Gujrati. It also has a great introduction to panel data methods, something that is severely lacking in Gujrati.

FOSD · 08-11-2008, 04:14 PM

Wooldridge is clear and at the same time fairly in depth at the undergrad level. Also, his math appendix is great if it's your first time encountering some of the mathematical or statistical concepts he presents. He also has a few appendices that go over the same material in a given chapter but using matrix algebra so as to give you a nice overview of the information in multiple formats. As was mentioned, he provides a fine introduction to some limited dependent variable models, although it mainly focuses on OLS techniques. For both exams and intuition, I'd choose this book.

Canuckonomist · 08-11-2008, 04:23 PM

Another vote for Wooly.

Connemara Pony · 08-11-2008, 05:01 PM

I used Gujarati and hated it, it's way too convaluted.

amsicora · 08-11-2008, 05:03 PM

I second general vote for Wooldridge. Verbeek could be used to get some more insight on panel data...

ICECOLDECON · 08-11-2008, 05:29 PM

I hated Gujarti as well. Wooldridge was pretty clear and a pretty solid undergrad text.

LouisBD · 08-11-2008, 07:15 PM

I am only familar with Wooldridge (I assume we are talking about the introductory text) and while the text is definitely well established and provides good intuition there are some drawbacks that should be noted.

1) Virtually no matrix notation. This may be easier going but in the end you will have to advance to the more formal texts who use this notation.
2) This text is very long. Repetitio mater studiorum est; Wooldridge overdoes it my opinion. This is probably personal but I prefer shorter, clear texts instead of texts who say the same thing over and over again.
3) This text very elemenatary.

Note that I do not find this textbook bad, I just wanted to give you the drawbacks to the strengths of the textbook.

To conclude, if you are a bit versed in statistics and have little problem with formal reasoning, go for Verbeek or something similar.

08-11-2008, 03:18 PM	#1 (permalink)
eminkadtan Trying to make mom and pop proud Join Date: Apr 2008 Posts: 5	Do you recomend Gujarati Basic Econometrics or Wooldridge Introductory Econometric? I need to prepare an exam and learn Econometrics in a very short time. I have some basic knowledge about metric. Which book do you recommend?

08-11-2008, 03:41 PM	#4 (permalink)
asianeconomist Loving the game Join Date: Jul 2007 Location: Cambridge, UK Posts: 1,017	Wooldridge is a really accessible text, I strictly prefer it to Gujrati. It also has a great introduction to panel data methods, something that is severely lacking in Gujrati. _ _ _ _ SIG _ _ _ _ The Pens have been lifted and the Pages have dried. - recorded by At Tirmidhee.

08-11-2008, 04:23 PM	#6 (permalink)
Canuckonomist Loving the Ivory Tower Join Date: Dec 2007 Location: Kingston, Canada Posts: 357	Another vote for Wooly. _ _ _ _ SIG _ _ _ _ Attending Queen's University Applying to: UChicago, NWU, Yale, NYU, Columbia, Michigan, Minnesota, Cornell, Rochester, BU, Toronto Ph.D comics by Jorge Cham... Now I can actually say they relate.

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08-11-2008, 03:22 PM	#2 (permalink)
jeeves0923 Within my grasp! Join Date: Mar 2008 Posts: 476	Hmm... I tend to like Wooldridge better than Gujarati. If you are really interested in nuts and bolts of why we use these tools, analysis of assumptions and the really good stuff, I like Spanos better than either. He might not be the best choice for cramming though.

08-11-2008, 03:34 PM	#3 (permalink)
philecon Eager! Join Date: Mar 2008 Posts: 53	My friends who are taking econometrics this sem use both Gujarati and Wooldridge, and according to them, Wooldridge's better in terms of clarity. He seems more down-to-earth, or so they say. But, if you're going to review for a test, maybe you could find something more concise, which explains things clearly. I read in one of the threads that they recommend either Peter Kennedy or Marno Verbeek's book for metrics. Don't take my word for it, though. I'm just about to take the subject next term.

08-11-2008, 04:14 PM	#5 (permalink)
FOSD Trying to make mom and pop proud Join Date: Aug 2008 Posts: 5	Wooldridge is clear and at the same time fairly in depth at the undergrad level. Also, his math appendix is great if it's your first time encountering some of the mathematical or statistical concepts he presents. He also has a few appendices that go over the same material in a given chapter but using matrix algebra so as to give you a nice overview of the information in multiple formats. As was mentioned, he provides a fine introduction to some limited dependent variable models, although it mainly focuses on OLS techniques. For both exams and intuition, I'd choose this book.

08-11-2008, 05:01 PM	#7 (permalink)
Connemara Pony Eager! Join Date: Mar 2008 Posts: 51	I used Gujarati and hated it, it's way too convaluted.

08-11-2008, 05:03 PM	#8 (permalink)
amsicora Trying 2letdown mom'n'pop Join Date: Jul 2008 Posts: 15	I second general vote for Wooldridge. Verbeek could be used to get some more insight on panel data...

08-11-2008, 05:29 PM	#9 (permalink)
ICECOLDECON Within my grasp! Join Date: Dec 2007 Posts: 116	I hated Gujarti as well. Wooldridge was pretty clear and a pretty solid undergrad text.

08-11-2008, 07:15 PM	#10 (permalink)
LouisBD Eager! Join Date: Jun 2008 Posts: 43	I am only familar with Wooldridge (I assume we are talking about the introductory text) and while the text is definitely well established and provides good intuition there are some drawbacks that should be noted. 1) Virtually no matrix notation. This may be easier going but in the end you will have to advance to the more formal texts who use this notation. 2) This text is very long. Repetitio mater studiorum est; Wooldridge overdoes it my opinion. This is probably personal but I prefer shorter, clear texts instead of texts who say the same thing over and over again. 3) This text very elemenatary. Note that I do not find this textbook bad, I just wanted to give you the drawbacks to the strengths of the textbook. To conclude, if you are a bit versed in statistics and have little problem with formal reasoning, go for Verbeek or something similar.

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