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This book explores econometrics using an intuitive approach that begins with an economic model. It emphasizes motivation, understanding, and implementation and shows readers how economic data are used with economic and statistical models as a basis for estimating key economic parameters, testing economic hypotheses and predicting economic outcomes.
- Sales Rank: #851770 in Books
- Published on: 2000-11-09
- Original language: English
- Number of items: 1
- Dimensions: 10.10" h x .89" w x 7.30" l, 1.93 pounds
- Binding: Hardcover
- 424 pages
About the Author
R. Carter Hill, Louisiana State University;
William Griffiths, University of New England; and
George Judge, University of California, Berkeley
Most helpful customer reviews
18 of 18 people found the following review helpful.
Very good for learning
By The Blue Man
This book is a shortened version of "Learning and Practising Econometrics (1993)", which itself is a shortened version of "The Theory and Practice of Econometrics (1982)".
Hill's "Undergraduate Econometrics" instills understanding by slowly going through derivations and principles, while at the same time motivating econometric analysis by referring to economic situations where it can be used. Much better than Gujarati (which tends to be a "cookery book" rather than giving an integrated treatment).
The book both motivates the student and takes them through the steps and methods they will need to adopt in further econometric studies, and always provides a good reference (often to one of the parent books mentioned above) when it omits proofs and other details.
The only weakness of the book reveals what is (to my mind) an unhealthy preoccupation with estimation issues, as opposed to those of data quality. As people like Granger have consistently pointed out, the real issues in 21st century econometrics have to do with what sort of data we have, and what methods are most appropriate in different situations. Despite this, Hill et al almost exclusively dwell on the identically and independently distributed (iid) specification. However, I should point out in the book's defence that this preoccupation is shared by most other introductory (and graduate) textbooks on econometrics.
The book's good points far outweigh these weaknesses. Finally, the second edition has some updates, and discusses such developments as time series econometrics. "Undergraduate Econometrics" should definitely be purchased by anyone wishing to learn about modern empirical methods.
16 of 16 people found the following review helpful.
Excellent intuition BUT A POOR BRIDGE TO THE DREADFUL GREENE
By A Customer
This book is the best book to use for the very first course in econometrics. It takes you by the hand to teach you all you need in terms of the basics.
I only give it 4 stars for two reasons. First, while this book is non-mathematical (and I agree with that) it should have nonetheless appendices that make use of matrices and differential calculus.
Second, this book is extremely expensive.
This book can easily earn 5 stars if in the next edition it contains appendices that will create a bridge towards intermediate econometrics. A more reasonable price would also be welcomed.
Overall, this is the best book to use for a very first course in econometrics.
BUT BEWARE: THIS BOOK IS A POOR BRIDGE TO THE DREADFUL GREENE!!!!THE BEST BRIDGE IS "LEARNING AND PRACTICING ECONOMETRICS" BY THE SAME AUTHOURS OF "UNDERGRADUATE ECOMETRICS" I.E. HILL, GRIFFITHS, AND JUDGE.
By the way, for those that are looking for a good substitue to "Undergraduate Econometrics", you have "Basic Econometrics" by Gujarati.
Thank you,
0 of 0 people found the following review helpful.
Need to Know
By Picky Buyer
Nice book, personally dislike the subject matter but it did a good job of explaining the topic.
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