INTRODUCTORY ECONOMETRICS

This highly accessible and innovative text and accompanying CD-ROM use Excel workbooks powered by Visual Basic macros to teach the core con-cepts of econometricswithout advancedmathematics. Thesematerials enable Monte Carlo simulations to be run by students with a click of a button. The fundamental teaching strategy is to use clear language and take advantage of recent developments in computer technology to create concrete, visual expla-nations of difficult, abstract ideas. Intelligent repetition of concrete examples effectively conveys the properties of the ordinary least squares (OLS) esti-mator and the nature of heteroskedasticity and autocorrelation. Coverage includesomittedvariables, binary responsemodels, basic time seriesmethods, and an introduction to 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 or with other econometric software. The Excel add-ins included with this book allow students to draw histograms, find P-values of various test statistics (including Durbin–Watson), obtain robust standard errors, and construct their own Monte Carlo and bootstrap simula-tions. For more, visit www.wabash.edu/econometrics