Introductory Econometrics: Using Monte Carlo Simulation with Microsoft Excel

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Cambridge University Press, 2006 - Business & Economics - 774 pages
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This highly accessible and innovative text with supporting web site uses Excel (R) to teach the core concepts of econometrics without advanced mathematics. It enables students to use Monte Carlo simulations in order to understand the data generating process and sampling distribution. Intelligent repetition of concrete examples effectively conveys the properties of the ordinary least squares (OLS) estimator and the nature of heteroskedasticity and autocorrelation. Coverage includes omitted variables, binary response models, basic time series, and simultaneous equations. The authors teach students how to construct their own real-world data sets drawn from the internet, which they can analyze with Excel (R) or with other econometric software. The accompanying web site with text support can be found at www.wabash.edu/econometrics.
 

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Contents

User Guide
1
Introduction
10
References
30
PivotTables
53
References
71
References
91
References
136
A Catalog of Functional Forms
161
References
334
References
376
References
410
References
451
References
488
References
507
Heteroskedasticity
508
References
557

References
194
Monte Carlo Simulation
215
Review of Statistical Inference
238
References
278
The Measurement Box Model
281
References
302
The Classical Econometric Model
316
References
603
References
661
Bootstrap
709
Simultaneous Equations
730
References
747
Index
761
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About the author (2006)

Humberto Barreto is DeVore Professor of Economics at Wabash College, Indiana. He received his Ph.D. from the University of North Carolina at Chapel Hill. Professor Barreto has lectured often on teaching economics with computer-based methods, including the National Science Foundation's Chautuqua program for short courses using simulation. He has received the Indiana Sears Roebuck Teaching Award and the Wabash College McLain-McTurnan Arnold Award for Teaching Excellence. The author of The Entrepreneur in Microeconomic Theory, Professor Barreto has served as a Fulbright Scholar in the Dominican Republic. He is the manager of electronic information for the History of Economics Society and the director of the opportunities to Learn about Business program at Wabash College.

Frank M. Howland is Associate Professor of Economics at Wabash College. He earned his PhD in Economics from Stanford University. Professor Howland was a visiting researcher at FEDEA on Madrid in 1995-6. His academic research focuses on college savings plans.

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