Practical Econometrics Hilmer Pdf Download PORTABLE
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This edition of Practical Econometrics introduces quantile and factor models and probit and logit models. Specifically, these models are introduced as a dif-ferent perspective from the econometric models reviewed in previous editions of this text. This perspective is an important step in the development of econometric skills. Because these models are often not taught in the first-year econometrics course, they are a natural progression from thefirst edition. This edition also includes data sets and how-to's for the collection, manipulation, and use of the data for each of the models covered. The authors also present a large data set of US house pricesand a data set of US county sales of refrigerators and freezers.
The authors cover several statistical concepts that are often misunderstood by the incoming econometric undergraduate. These are the concepts of frequentist and Bayesian statistics. The authors prove that frequentist and Bayesian statistics are correct by showing that they are equivalent to each other. The authors also show how Bayesian methods are easier to apply to the econometric problems because the Bayesian theory of inference is much more intuitive. The authors show that the Bayesian framework provides a natural way to incorporate subjective prior information and thereby provides a powerful tool for econometric modeling.
The authors introduce new data sets and how-to's throughout the book. Readers will be able to use the newly presented data sets and how-to's to perform analyses and make data-driven conclusions. Throughout the book, readers gain a strong understanding of the importance of data in econometrics. The authors emphasize this point several times. The authors introduce the reader to the study of microeconomics which stresses the importance of small data sets for understanding market mechanisms. In addition, the authors stress the importance of data to answer real-world questions. The authors encourage the reader to use this book to answer questions that they may want to investigate further, e.g., why are refrigerators and freezers selling at different prices? Why is the US food industry growing? What are the primary trends and sources of inflation?
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