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Principles of Econometrics, 4th edition, is an introductory book for undergraduate students
in economics and finance, as well as for first-year graduate students in economics, finance,
accounting, agricultural economics, marketing, public policy, sociology, law, and political
science. It is assumed that students have taken courses in the principles of economics, and
elementary statistics. Matrix algebra is not used, and calculus concepts are introduced
and developed in the appendices.
A brief explanation of the title is in order. This work is a revision of Principles of
Econometrics, 3rd edition, by Hill, Griffiths, and Lim (Wiley, 2008), which was a revision of
Undergraduate Econometrics, 2nd edition, by Hill, Griffiths, and Judge (Wiley, 2001). The
earlier title was chosen to clearly differentiate the book from other more advanced books by
the same authors. We made the title change because the book is appropriate not only for
undergraduates, but also for first-year graduate students in many fields, as well as MBA
students. Furthermore, naming it Principles of Econometrics emphasizes our belief that
econometrics should be part of the economics curriculum, in the same way as the principles
of microeconomics and the principles of macroeconomics. Those who have been studying
and teaching econometrics as long as we have will remember that Principles of Econometrics
was the title that Henri Theil used for his 1971 classic, which was also published by
JohnWiley and Sons. Our choice of the same title is not intended to signal that our book is
similar in level and content. Theil’s work was, and remains, a unique treatise on advanced
graduate level econometrics. Our book is an introductory-level econometrics text. |
