Introductory Econometrics: Using Monte Carlo Simulation with Microsoft Excel - Hardcover

Barreto, Humberto; Howland, Frank

Hardcover

ISBN 10: 0521843197 ISBN 13: 9780521843195

Publisher: Cambridge University Press, 2006

Synopsis

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 .wabash.edu/econometrics.

About this title

Review:

'Hats off to Barreto and Howland for a clearly-written text that introduces the undergraduate to data analysis and econometric techniques using Excel. The book's strength is in using Monte Carlo simulation to illustrate sampling theory and the Gauss Markov theorem. I am in total agreement with the authors that computer-based exercises help to make abstract concepts operations and meaningful. Most juniors and seniors are familiar with the basic features of Excel spreadsheets. Showing them how to use SOLVER, the DATA ANALYSIS TOOLS, and to run Monte Carlo simulations, allows an instructor to take a familiar tool (Excel) and use it to introduce undergraduates to econometrics in an intuitive and non-threatening way.' Jon M. Conrad, Cornell University

'Barreto and Howland have taken a truly innovative approach to teach undergraduate econometrics, using computer simulation methods to illustrate and clarify difficult topics. Fully integrated with Microsoft Excel, this textbook forces students to take a hands-on approach to the subject. There is no better way to learn econometrics than by doing econometrics!' Jason Abrevaya, Purdue University

'Barreto and Howland have done an excellent job of producing an introductory econometric textbook based on Excel software combined with a well written and applied intuitive approach to econometrics. In my opinion, their teaching philosophy is absolutely the correct method: Put the student in front of a computer and teach econometrics by doing econometrics.' Daniel V. Gordon, University of Calgary

'The authors wrote a textbook on introductory econometrics which is different from most textbooks by using Monte Carlo simulation with Microsoft Excel. The book is written for undergraduate students in econometrics who should not be explicitly confronted with formal mathematics but instead with visual explanations of abstract ideas.' Zentralblatt MATH

Book Description:

This highly accessible and innovative textbook with supporting web site uses Excel (R) to teach the core concepts of econometrics without advanced mathematics. The web site support can be found at www.wabash.edu/econometrics.

About this edition

• Publisher: Cambridge University Press
• Publication date: 2006
• ISBN 10: 0521843197
• ISBN 13: 9780521843195
• Binding: Hardcover
• Number of pages: 800