Econometric Models and Economic Forecasts

by Robert S. Pindyck and Daniel L. Rubinfeld

Book Overview

First course in Econometrics in Economics Departments at better schools, also Economic/Business Forecasting. Statistics prerequisite but no calculus. Slightly higher level and more comprehensive than... This description may be from another edition of this product.

• Format: Hardcover
• Language: English
• ISBN: 0079132928
• ISBN13: 9780079132925
• Release Date: July 1997
• Publisher: Irwin/McGraw-Hill
• Length: 634 Pages
• Weight: 2.31 lbs.
• Dimensions: 1.2" x 6.6" x 9.5"

Customer Reviews

Fine

Some mistakes in equations. but overall it is a good quality book. Time series part is not excellent. But as a entry-level book, it gives you a general idea of all kinds of knowledge you need in Econometrics.

Deceivingly more information than you think - half way between introductory and advanced

In sum: This book is half-way in between an introductory text (i.e. Wooldridge - Introductory Econometrics) and an advanced graduate textbook (Greene - Econometric Analysis). Wooldridge's introductory textbook is certainly better suited for a first class in econometrics. Pindyck and Rubinfeld provide an excellent complement however, particularly for mid-level graduate students. Appendices show the matrix form derivations of most estimators, and provides a treatment of the GMM estimator, neither of which you will find in an purely introductory course. Really the appendices are where the more advanced treatments are offered to the interested reader. Sections on forcasting and time series models in this book are greatly superior than what is offered in introductory texts (which usually is no presentation at all). Pindyck and Rubinfeld do not waste a word in this textbook. There's a discussion on pretty much all the estimators, although some of these are short (one paragraph and no equations for the ordered probit - but you can't have it all!). If you know nothing about econometrics then this is not the book for you. I was forced to buy it in my introductory econometrics class and had no idea what was going on. Then I had a competent instructor and lots of Wooldridge reading. This book helped me through Master's level econometrics and makes for good subway reading, but will definitely be shy of what you need for a PhD in economics. For PhD you will need Greene OR [Hamilton (1994) AND Wooldridge's Cross Section and Panel Data book].

Good beginners' book

This is a beginners' book, and for those, I would recommend its use, but only in addition to using it with Gujarati's. Pindyck's book is very simple and well explained. Its advantage over other books is that it is concerned with forecasting, something that other basic books do not do. It is a little bit more advanced than Gujarati's but lays between that one and Maddala's book.

It's not that bad

I'm giving this book 5 stars largely to balance out the somewhat unfair reviews that were given. For what it is -- an econometrics textbook that tries to present overview of neginning to intermediate econometrics and forecasting WITHOUT a lot of linear algebra -- it's a pretty good book. While it has its rough spots, the book has many good features. One of the really good features of this book is presenting the material with an emphasis on model building ... a very important emphasis that is too often ignored in other econometrics texts. In an ideal world, this book deserves at least an average of 4 stars and would deserve more if the readers made things more readable and better incorporated advances in econometrics since previous editions.

A very good starter's textbook.

This was my first econometrics textbook 7 years ago. Not difficult at all, but covers the most important material for econometrics students at the beginner's level. Good structure and good examples.You may not be able to find everything there, because it is not "advanced" version. A little bit outdated. Newly developed ideas and technichs are not covered.