Econometrics For Dummies

by Roberto Pedace

Score your highest in econometrics? Easy. Econometrics can prove challenging for many students unfamiliar with the terms and concepts discussed in a typical econometrics course. Econometrics For Dummies eliminates that confusion with easy-to-understand explanations of important topics in the study of economics. Econometrics For Dummies breaks down this complex subject and provides you with an easy-to-follow course supplement to further refine your understanding of how econometrics works and how it can be applied in real-world situations. If you're seeking a degree in economics and looking for a plain-English guide to this often-intimidating course, Econometrics For Dummies has you covered.

Genres: Economics, Business, Nonfiction, Mathematics

368 pages, Paperback

First published January 1, 2013

Reviews

[Fellipe · Rating 3 out of 5]

Many folks hate the "For Dummies" series, for it tries sometimes too hard to simplify complex subjects and ultimately fails at doing so. But this book for me was really the opposite.

At its foundation, Econometrics is a complex subject that should be treated with extreme care. Even if the empiricist turn in Economics might be a bit overrated given how empiricists are not deemed in regard as high as theoreticians, it is what unveils evidence that will back or contradict the field's foundations, and open new ways for it to engage in new areas of thought.

I wouldn't recommend this book as anything other than something to consult when you really want to remind yourself of some very basic concepts in Econometrics that might have been long forgotten in your mind, if you're a veteran like me. But if I ever have to teach Econometrics to a bunch of first and/or second-year students at some institution where people still struggle with basic calculus and linear algebra, I wouldn't be opposed to the idea of using this book as a secondary reference to my peers. As there is certainly something to grasp from here that might be lost from the bunch of equations thrown at you by most of the classic Econometrics textbooks out there.

[Lee Robinson · Rating 4 out of 5]

Well explained, clear, not too technical, but just technical enough to show the concepts, great overview, simple style, great job yadda yadda...

BUT
What is it with American writers and sports examples?! And not normal sports either - but sports that no-one outside of the US cares about or understands. Why does every concept have to be illustrated with reference to baseball or American football? If I bought a book on sports science, I wouldn't expect examples using economic data, so why do it the other way round??

Rant over. Otherwise, top notch

[Dray · Rating 4 out of 5]

This is a well written book on Econometrics. I have no background in Economics but do have a firm foundation in statistics and so found the book educational and understandable, broadening my understanding of how economists use data and think about proof.

[Eppie · Rating 5 out of 5]

Best $18 I ever spent--would have flunked econometrics without this. Added bonus, it has all the STATA commands in each chapter, which is great if you have a professor who uses STATA and assumes that you know how to use it too, even though this is your first class, and requires you to do all your homework in it...LIFESAVER!!!!

[Isaac Chan · Rating 3 out of 5]

Was looking for a book to explain econometrics to a complete idiot/ 5 year old. Found this, turned to the 1st page and there it wrote - The author assumes the reader is an undergraduate in economics. Nice. Spoke somewhat to the maybe impossibility to explain econometrics to a dummy. Maybe it's the just the fundamental nature of the field, that econometrics just keeps feeding into a negative feedback loop, where confused af students reading these quirky symbols and jargon look for more information, only to feed them back with the existing literature targeted for economics undergraduates and above LMFAO.

Nevertheless, the book did start out with its intended objective - to explain this shit to a complete motherfucking idiot. Was nearly moved to tears with certain passages, as I finally learnt what some familiar yet incomprehensible concepts and equations truly meant from an intuitive standpoint - something most lecturers breeze over and then slam you with a cannon-ball of an exam lmfao.

This book started to take on steam after the 2nd half, where the author seemed to forget his objective of writing a 'For Dummies' book and started steamrolling onto jargon and huge leaps between concepts lol. Nice to know that a 'dummy' in the eyes of an econometrician is an economics undergrad.

Wish these econometrics researchers would stop mulling over boring research questions like labour, wage and education, and focus on more intriguing puzzles like portfolio performance attribution, investment manager selection, hedge fund alpha, factor investing etc. At least this somewhat got me thinking about how financial econometrics and the exotic world of quant hedge funds and systematic portfolios might not be too different. Also helped me understand and appreciate tremendously the work of quant factor funds like AQR and even Man Group, albeit at a high level

Got some food for thought out of this, at the end of the day

[Gabriel Le Gall · Rating 4 out of 5]

An extremely well written book that covers the basics of Econometrics and much more! I finally got to understand how to perform a logitic regression and I discovered some interesting concepts (such as the 'standardized regression coefficients'). I wish I had read this book sooner :)

[Suzana · Rating 5 out of 5]

Good book!

This is an excellent starting book to learn basics of econometrics. Only objection I have is using STATA, which is commercial software, for examples. More suitable for wider audience would be using R.

[Jimmy Sieja · Rating 3 out of 5]

Does a good enough job explaining hard to understand concepts, but could’ve made it a lot easier by using more examples and explained the examples better. Could’ve been more dummied down

[Harigovind R · Rating 4 out of 5]

A lot of the introductory chapters are really good but then towards the last few chapters it just skims over the concepts.