Introductory Econometrics—Using Monte Carlo Simulation with

Becoming intelligent readers of economic journal articles, ability to conduct basic empirical research and preparation for further econometric studies are prime objectives at the introductory level in most econometric curricula. The question is: What is the best way of ‘hitting the road’? The book by Barreto and Howland introduces a new approach in teaching introductory econometrics. The text and the accompanying CD-ROM use Excel spreadsheets powered by add-ins to guide the student through the core concepts of econometrics. A central part of the exposition is based on Monte Carlo simulations allowing students to work interactively in the pro-vided examples. Students thus get a visual explanation in their hands-on work and an opportunity to observe directly the consequences of alternative specifications, alterations, etc. A persistent theme in the book is that successful econometric analysis depends on economic and statistical theory as well as a careful interpretation of the data. The core of the book is the idea that students are in vital need o