A Concise Introduction to Econometrics: An Intuitive Guide

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Cambridge University Press, Dec 12, 2002 - Business & Economics - 117 pages
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In this short and very practical 2002 introduction to econometrics Philip Hans Franses guides the reader through the essential concepts of econometrics. Central to the book are practical questions in various economic disciplines, which can be answered using econometric methods and models. The book focuses on a limited number of the essential, most widely used methods, before going on to review the basics of econometrics. The book ends with a number of case studies drawn from recent empirical work to provide an intuitive illustration of what econometricians do when faced with practical questions. Throughout the book Franses emphasises the importance of specification, evaluation and implementation of models appropriate to the data. Assuming basic familiarity only with matrix algebra and calculus the book is designed to appeal as either a short stand-alone introduction for students embarking on an empirical research project or as a supplement to any standard introductory textbook.
 

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Contents

Introduction
1
Why this book?
7
Outline of the book
11
A few basic tools
13
Distributions
14
The linear regression model
19
Inference
24
Some further considerations
30
Empirical analysis
66
Answering practical questions
77
Seven case studies
81
Convergence between rich and poor countries
82
Direct mail target selection
86
Automatic trading
89
Forecasting sharp increases in unemployment
93
Modeling brand choice dynamics
97

To summarize
33
Econometrics a guided tour
36
Practical questions
37
Problem formulation
39
Data collection
46
Choice of an econometric model
62
Two noneconomic illustrations
101
Conclusion
108
Econometrics is practice
110
References
111
Index
115
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About the author (2002)

Philip Hans Franses is Professor of Applied Econometrics and Professor of Marketing Research at Erasmus University, Rotterdam.

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