Theory of Econometrics  (English, Paperback, Koutsoyiannis A.)

This second edition of Theory of Econometrics is a book that provides the readers with key insights into the fundamentals of econometrics and its applications.

Summary Of The Book

Econometrics is the process of applying statistical methods, computer science, and mathematics, to economic data. It is categorized as the stream of economics that provides empirical content to economic relations.

While reviewing the first edition of this book, Theory of Econometrics, the Journal of Economic Literature classified the book as one that focuses greatly on the exposition and simplification of mathematical representation of subjects. This book only requires the readers to have a college-level understanding of algebraic concepts, as greater emphasis is laid on the economic facets of econometrics.

In this second edition, Koutsoyiannis has revised several chapters and portions of the text, which is aimed towards making the text easier to understand. In most cases, econometrics books are highly advanced for students to comprehend, which causes them to give up studying the subject, or students end up ignoring vital concepts to make the subject easier for them to comprehend. Koutsoyiannis has simplified the mathematical concepts pertaining to econometric models, at the same time providing a comprehensive overview of this subject. Divided into three parts, this first part gives the readers a brief introduction into the procedure that should be adopted in any applied econometric research.

Koutsoyiannis goes on to throw light on the simple linear regression model and the theory of correlation, while developing the procedure of variance analysis and how it can be incorporated with regression analysis. She also guides the readers into the linear regression model’s assumptions, and the measures to take if the economic relations’ parameters are violated. Koutsoyiannis also examines the models of simultaneous relationships. At the end of this book, the readers are provided several examples and questions pertaining to economic applications.

About Anna Koutsoyiannis

Anna Koutsoyiannis was an author and microeconomist.

Apart from this book, Koutsoyiannis has written Non-Price Decisions and The Leaf Tobacco Market of Greece.

Koutsoyiannis finished her doctoral degree from the University of Manchester, where she began teaching as well, in the early 1960s. After returning to Greece, she began teaching at the University of Thessaloniki and the Graduate School of Business Studies, Athens. Koutsoyiannis then worked at the University of Lancaster, after returning to the UK. The University of Waterloo presented her their first ‘Distinguished Teacher Award’ in 1978. She also served as the Senior Project Director of the Centre of Planning and Economic Research, in Athens. She passed away in the year 1986.