Advantages Well laid out, logical text book
Disadvantages answer book requires additional purchase
Well this is a subject that is truly hard to make interesting but it is relevant to anyone considering an economics degree as econometrics (or the maths of economics is becoming increasingly compulsory at university level).The book starts off assuming you have a little A-level knowledge about statistics and probability and then takes you through the basics such a linear regression and the Gauss-Markov theorem, then before you know it you are covering such interesting subjects as Heteroskedasticity- where a distributions does not have a constant variance, i.e. the swings in the stock market in absolute terms are greater the higher the index goes and Multicollinearity- where one has incorrectly specified a model and included an unneeded variable or excluded a vital variable. It also covers Cointegration, dummy variables and panel data, for those of you who would like an explanation of these as well I worry about you I really do!
Now although these techniques don’t sound particularly inspiring they are definitely useful if you are considering working in an economics based industry, so the book will help with that. It’s examples are clearly set out and the questions are similar to those that one may be set in an exam, for which there is an additional answer book which you have to buy which is a slight annoyance! However compared to its peers this book is more to the point and in my view follows a more logical and therefore helpful structure.If I had one piece of advice it would be to avoid econometrics like the plague however if you had no choice like me, then this book will make it bearable.
|Type of Book||Mixture Theory & Examples|
|Quality of Text||High|
|Logical Layout?||Chapters in a logical order|
|Level of Difficulty||Challenging|
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