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Introductory Econometrics: Using Monte Carlo Simulation with Microsoft Excel: Using Monte Carlo Simulation with Microsoft Excel [With CDROM]

Introductory Econometrics: Using Monte Carlo Simulation with Microsoft Excel: Using Monte Carlo Simulation with Microsoft Excel [With CDROM]

by Frank Howland (Author), Humberto Barreto (Author)

  • New

    Hardcover 2006

    $121.32
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 www.wabash.edu/econometrics.

$121.32

Quantity

20+ in stock

More Information

Format: Hardcover
 Pages: 800
 Edition: Har/Cdr
 Publisher: Cambridge University Press
Published: 16 Mar 2006
ISBN 10: 0521843197
ISBN 13: 9780521843195
Book Overview: This accessible textbook and supporting web site use Excel (R) to teach introductory econometrics.

Media Reviews
'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
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
Humberto and Barreto have written a worthwhile and unique textbook on introductory econometrics. I was initially skeptical that Excel and Monte Carlo simulation could be integrated coherently, but the authors execute it well. This book has many positives, including accessibility, potential to engage some students who otherwise might not be interested and likelihood of students finishing with a strong understanding of sampling distributions and linear regression...instructors should consider this progressive textbook for their undergraduate econometrics course. Ryan E. Wiegand, Journal of the American Statistical Association
Author Bio
Humberto Barreto is DeVore Professor of Economics at Wabash College, Indiana. He received his Ph.D. from the University of North Carolina at Chapel Hill. Professor Barreto has lectured often on teaching economics with computer-based methods, including the National Science Foundation's Chautuqua program for short courses using simulation. He has received the Indiana Sears Roebuck Teaching Award and the Wabash College McLain-McTurnan Arnold Award for Teaching Excellence. The author of The Entrepreneur in Microeconomic Theory, Professor Barreto has served as a Fulbright Scholar in the Dominican Republic. He is the manager of electronic information for the History of Economics Society and the director of the opportunities to Learn about Business program at Wabash College. Frank M. Howland is Associate Professor of Economics at Wabash College. He earned his PhD in Economics from Stanford University. Professor Howland was a visiting researcher at FEDEA on Madrid in 1995-6. His academic research focuses on college savings plans.