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Title: Econometric Analysis by William H. Greene, William H Greene ISBN: 0-13-066189-9 Publisher: Prentice Hall Pub. Date: 22 August, 2002 Format: Hardcover Volumes: 1 List Price(USD): $130.00 |
Average Customer Rating: 3.47 (36 reviews)
Rating: 2
Summary: A poor book at a rich price.
Comment: I own many econometrics books and this is by and large the worst I had (I sold it at once after the course I HAD to buy it for, while I kept all others). It seems it covers everything while, in fact, almost all results are just presented rather than analyzed, let alone analyzed in depth. The best thing about the book is probably the table of contents, as one gets an overall idea of what econometrics deals with today. In fact, no other book aims at covering so much. Otherwise, it looks, feels and performs like an undergraduate text ...
On top of that, this edition in particular is especially bad: the blue ink stains your hands, and there are MORE typos than in the previous one. If you absolutely want to get it, buy the third edition (if you find one used).
If you want more serious general econometrics, have a look at Davidson and MacKinnon's book. If you want asymptotic theory, get White's. For time series, Hamilton's or Brockwell and Davis'.
Rating: 5
Summary: An Indispensable Book for Applied Econometrics
Comment: This is an indispensable book for applied econometrics students. It has lots of applied and a reasonable degree of theoretical stuff. What is missing in many advanced econometrics textbooks, including the popular books Davidson and MacKinnon (1993) and Hamilton (1994), is some data sets and some results based on them so you can learn econometrics by actually doing it, not by simply having to trust the author's results. I mean, after all, what is the point of putting actual data examples in a book if the reader cannot replicate them because he does not have the data? In the preface to his important 1971 textbook Principles of Econometrics Theil remarks that "...nobody should believe that he will be able to handle statistical data in economics without touching actual data." I cannot agree more.
I use Ox and Gauss for my econometric analyses and write lots of codes. The very first thing I need is a clear explanation of the theory and some results to check the accuracy of my codes. In those respects Greene's book is the champion. You have the theory, the data sets and the results. Replicate them and learn. I believe this is how you can learn applied econometrics.
Besides Greene's book, I could also recommend "Patterson (2000) An Introduction to Applied Econometrics" for applied time series. You can get the data sets used in this book by contacting the author.
Finally, answering some critics. First, I do not think that evaluations of this book based on some course experiences are unbiased. If you use a book to pass a Ph.D. course its usefulness depends very much on the structure of the course. And some books are better suited to the course than others. Actually, no book can beat a good set of lecture notes. Second, if you think you are a serious econometrics student, go to the original papers for proofs and the sources of the mathematical equations. If you look for them in textbooks you are in the wrong place. Third, the author does not just throw in a lot of numbers. He gives you the theory and the results. The rest is your job. If you cannot figure out how he got those numbers, get a tutor.
Rating: 2
Summary: just so confusing
Comment: Having used Greene's text for my undergraduate econometrics course I think its really important to point out its faults.
1The layout is confusing and hard to follow,
2the math is clunky and inelegant
3its more useful as a weapon (SO heavy)
4Plus it gives asymptotic results in a somewhat misleading manner.
5It is far from impossible to cover results of the same level in a clearer and more COHERENT way
6Probably its only strong point is that it covers a vast number of topics.
7Why is this text so widely used?
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Title: A Guide to Econometrics - 4th Edition by Peter Kennedy ISBN: 0262611406 Publisher: MIT Press Pub. Date: 08 May, 1998 List Price(USD): $32.95 |
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Title: Econometric Analysis of Cross Section and Panel Data by Jeffrey M. Wooldridge ISBN: 0262232197 Publisher: MIT Press Pub. Date: 01 October, 2001 List Price(USD): $75.00 |
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Title: Advanced Macroeconomics by David Romer ISBN: 0072318554 Publisher: McGraw-Hill/Irwin Pub. Date: 20 December, 2000 List Price(USD): $73.15 |
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Title: Microeconomic Analysis by Hal R. Varian ISBN: 0393957357 Publisher: W.W. Norton & Company Pub. Date: March, 1992 List Price(USD): $80.95 |
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Title: Microeconomic Theory by Andreu Mas-Colell, Michael D. Whinston, Jerry R. Green ISBN: 0195073401 Publisher: Oxford Press Pub. Date: June, 1995 List Price(USD): $102.00 |
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