Basic Econometrics

balanced discussion of the various methodological approaches to econometrics, with renewed allegiance to traditional econometric methodology.

Mary S. Morgan, The History of Econometric Ideas, Cambridge University Press, New York, 1990. The author provides an excellent historical perspective on the theory and practice of econometrics, with an in-depth discussion of the early contributions of Haavelmo (1990 Nobel Laureate in Economics) to econometrics. In the same spirit, David F. Hendry and Mary S. Morgan, The Foundation of Econometric Analysis, Cambridge University Press, U.K., 1995, have collected seminal writings in econometrics to show the evolution of econometric ideas over time.

David Colander and Reuven Brenner, eds., Educating Economists, University of Michigan Press, Ann Arbor, Michigan, 1992, present a critical, at times agnostic, view of economic teaching and practice.

For Bayesian statistics and econometrics, the following books are very useful: John H. Dey, Data in Doubt, Basic Blackwell Ltd., Oxford University Press, England, 1985. Peter M. Lee, Bayesian Statistics: An Introduction, Oxford University Press, England, 1989. Dale J. Porier, Intermediate Statistics and Econometrics: A Comparative Approach, MIT Press, Cambridge, Massachusetts, 1995. Arnold Zeller, An Introduction to Bayesian Inference in Econometrics, John Wiley & Sons, New York, 1971, is an advanced reference book.

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