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Introduction to Econometrics, Global Edition, 4th edition

Published by Pearson (May 6, 2019) © 2019

  • James H. Stock Harvard University
  • Mark W. Watson Princeton University

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Title overview

Ensure your students grasp the essential principles of Econometrics with this comprehensive introduction to the field.

Introduction to Econometrics, 4th Edition, Global Edition is the ultimate introductory guide for your students, featuring engaging applications and bringing contemporary theories to life.

The latest edition focuses on currency and empirical analysis, incorporating real-world data by using results directly relevant to the applications.

With resources and tools to support critical thinking and understanding, this industry-leading text will help your students acquire a sophisticated knowledge of this fascinating subject.

This edition includes Instructor Resource Centre.

Hallmark Features of This Title

Keep students engaged with an array of pedagogical material, tools, and resources.

  • Chapter Introductions provide real-world context and a useful roadmap to help students navigate the material.
  • General Interest boxes provide insight into related topics whilst also highlighting real-world studies.
  • End-of-Chapter Summaries outline key ideas, helping students study more efficiently.
  • 'Review the Concepts' questions challenge students to check their understanding and prompt group discussion in class.

Prepare students to work with modern applications and large data sets.

  • Applications include predicting consumer choices and work with non-standard data.
  • Empirical Exercises allow students to apply what they have learned to answer real-world empirical questions.

Introducing new and updated material that support your students' understanding of the topic.

  • New section in Chapter 12 discusses whether economic institutions impact economic development, studying measures of potential settler mortality as valid instruments for measuring the effects in addition to TSLS and OLS.
  • New, Chapter 14, dedicated to big data and machine learning methods, introduces techniques beyond ordinary to your students that can help them havemuch lower out-of-sample prediction errors.
  • Chapter 17 extends the many-predictor focus of Chapter 14 to time series data. Using the dynamic factor model and a 131-variable set of US quarterly macroeconomic data, students learn how to forecast future values - an important skill to have as professionals in the field.
Updated structure and engaging content that encourage your students' critical understanding.
  • Regression is now introduced with a parallel discussion of prediction and causal inference to expose students to the different demands of collection data (i.e., randomized vs. controlled variables).
  • New General Interest Boxes, provide further insight into topics related to Econometrics, such as the invention of Instrumental Variables Regression (IVR).
  • Updated, extensive discussion covers the historical origins of instrumental variables regression in Chapter 12.

Digital features

Features of Pearson eText for the 4th Edition

Learn more about modern Econometrics with this comprehensive introduction to the field.

Introduction to Econometrics, 4th Edition, Global Edition by Stock and Watson is the ultimate introductory guide that connects modern theory with motivating, engaging applications.

Sharing a variety of resources and tools, this industry-leading text will help you acquire a sophisticated knowledge of this fascinating subject.

Extend learning beyond the classroom with Pearson eText – an easy-to-use digital textbook.

Optimise study time

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  • Watch and learn.Videos and animations within the eText bring tricky concepts to life (available in selected titles).

Personalise teaching with MyLab® Economics and support your students' learning with useful features and Learning Aids.

  • The 4th edition of MyLab Economics offers more exercises with instant, personalised feedback, allowing instructors to have greater flexibility in their assignments to students.
  • 'Help Me Solve This' and 'Text Pages' are additional Learning Aids for your students when they need help to solve a problem, providing helpful information and assistance to point them in the right direction.
  • The MyLab® Gradebook offers an easy way for students and instructors to view course performance and track their progress.

A comprehensive set of online interactive resources and case studies are now available with MyLab® Economics.

  • Dynamic Study Modules offer important self-study material, effectively helping students study chapter topics on their own, and continuously assess their knowledge and performance in real-time.
  • Students can now access prebuilt and prepared assignments on their smartphones, tablet, and computer.
  • 'Review the Concepts' questions, Exercises, and Empirical Exercises from the text are also available in MyLab® Economics.These are auto-graded and algorithmically generated exercises that focus on core concepts and economic interpretations based on data sets used in the text.

Table of contents

PART I: INTRODUCTION AND REVIEW

  1. Economic Questions and Data
  2. Review of Probability
  3. Review of Statistics

PART II: FUNDAMENTALS OF REGRESSION ANALYSIS

  1. Linear Regression with One Regressor
  2. Regression with a Single Regressor: Hypothesis Tests and Confidence Intervals
  3. Linear Regression with Multiple Regressors
  4. Hypothesis Tests and Confidence Intervals in Multiple Regression
  5. Nonlinear Regression Functions
  6. Assessing Studies Based on Multiple Regression

PART III: FURTHER TOPICS IN REGRESSION ANALYSIS

  1. Regression with Panel Data
  2. Regression with a Binary Dependent Variable
  3. Instrumental Variables Regression
  4. Experiments and Quasi-Experiments
  5. Prediction with Many Regressors and Big Data

PART IV: REGRESSION ANALYSIS OF ECONOMIC TIME SERIES DATA

  1. Introduction to Time Series Regression and Forecasting
  2. Estimation of Dynamic Causal Effects
  3. Additional Topics in Time Series Regression

PART V: THE ECONOMIC THEORY OF REGRESSION ANALYSIS

  1. The Theory of Linear Regression with One Regressor
  2. The Theory of Multiple Regression

Author bios

James Harold Stock is an American economist, professor of economics, and vice provost for climate and sustainability at Havard University.

Mark W. Watson is the Howard Harrison and Gabrielle Snyder Beck Professor of Economics and Public Affairs at Princeton University.

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