Real Econometrics ─ The Right Tools to Answer Important Questions

"Real Econometrics provides an engaging and practical introduction to econometrics, written in a chatty, conversational style. The book begins by inviting students to see how econometric tools can help answer important and interesting questions such as whether police reduce crime, the effects of drinking on students' grades, and whether or not tall people make higher wages. Real Econometrics achieves student engagement while offering serious statistical training. The book covers the modern statistical toolkit, ranging from OLS to field experiments, panel data analysis, instrumental variables, probit and logit models. The book ties together these topics under the twin themes of fighting endogeneity and accounting for uncertainty in estimates. Real Econometrics is built to work in multiple course contexts. Economics instructors teaching traditional econometrics courses for economics and business majors will find thorough coverage of the most frequently used methods of econometric analysis and a diverse array of examples and case studies. Instructors teaching a second semester course for undergraduate or graduate students can use the early parts of the book as a review and focus on modern identification strategies inherent in panel models, instrumental variables approaches, field experiments and regression-discontinuity designs. Instructors teaching more mathematically oriented classes can use this as a supplement that explains intuition and connects the methods to real-world applications. "--

Michael A. Bailey, B.A. Notre Dame; M.A. (Political Science); M.A. (Economics), PhD, Stanford. Michael A. Bailey is the Colonel William J. Walsh Professor in McCourt School of Public Policy and the Department of Government at Georgetown University.