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Introduce your students to how empirical researchers actually think about and apply econometric methods with the practical, professional approach in Wooldridge’s INTRODUCTORY ECONOMETRICS: A MODERN APPROACH, 5E. Unlike traditional texts, this book’s unique presentation demonstrates how econometrics can be used to empirically study and answer questions across a variety of disciplines. A reflection of how econometric instruction has evolved, INTRODUCTORY ECONOMETRICS is organized around the type of data being analyzed with a systematic approach, where assumptions are introduced only as they are needed to obtain a certain result. This approach simplifies the exposition and makes the text’s material easier for students to comprehend. Packed with timely, relevant applications the text emphasizes examples that have implications for policy or provide evidence for or against economic theories. More than 100 intriguing data sets are now available in six formats for your teaching flexibility. A wealth of new and revised instructor resources, written by the author, is provided at no cost to the instructor. The Instructor's Manual with Solutions contains answers to all problems and exercises, teaching tips on how to present the material in each chapter and also sources for each of the data files, with many suggestions on how to use them on problem sets, exams, and term papers. PowerPoint® slides and Scientific Word® slides are also new to this edition. The updated Data Set Handbook is also available to help instructors present the latest emerging developments in the field. Give your students a full understanding of how econometrics is genuinely useful for answering questions in business, policy evaluation, and forecasting environments with INTRODUCTORY ECONOMETRICS: A MODERN APPROACH, 5E.

Jeffrey M. Wooldridge, Michigan State University

Jeffrey M. Wooldridge is a University Distinguished Professor of Economics at Michigan State University, where he has taught since 1991. From 1986 to 1991, he served as Assistant Professor of Economics at the Massachusetts Institute of Technology (MIT). Dr. Wooldridge has published more than three dozen articles in internationally recognized journals, as well as several chapters in well-respected books. He is also the author of ECONOMETRIC ANALYSIS OF CROSS SECTION AND PANEL DATA. His work has earned numerous awards, including the Alfred P. Sloan Research Fellowship, the Plura Scripsit award from Econometric Theory, the Sir Richard Stone prize from the Journal of Applied Econometrics, and three graduate teacher-of-the-year awards from MIT. A fellow of the Econometric Society and of the Journal of Econometrics, Dr. Wooldridge has been editor of the Journal of Business and Economic Statistics and econometrics co-editor of Economics Letters. He has also served on the editorial boards of the Journal of Econometrics and the Review of Economics and Statistics. Dr. Wooldridge received his B.A. with majors in computer science and economics from the University of California, Berkeley, and received his Ph.D. in economics from the University of California, San Diego.
  • UP-TO-DATE COVERAGE HIGHLIGHTS THE LATEST EMERGING DEVELOPMENTS IN THE FIELD. Updated examples throughout this edition and coverage of the latest developments from the field clearly illustrate how chapter concepts apply to actual practice in today’s business world.
  • NEW, ADDITIONAL DATA SET FORMATS INTRODUCE STUDENTS TO DATA SETS IN SIX DIFFERENT FORMATS. This edition adds the R data set as an additional format for viewing data. In response to popular demand, this edition also provides the Minitab® format. With close to 100 data sets in six different formats, including R, Stata®, Minitab®, Microsoft® Excel, Text and EViews, instructors have the flexibility and instant access needed to present the formats preferred while teaching. For your convenience, all data sets are available on the book’s companion website.
  • NEW CONTENT FOR DATA SETS PROVIDES VARIETY OF ENGAGING STATISTICS. New sets highlight productivity and salary statistics for economics professors in the Big Ten. This edition also includes a large data set on women’s labor supply and fertility decisions; a current data set on elementary school teacher salaries and benefits as well as student-teacher ratios and spending; and time series data sets on economic activity, the Federal Funds rate, and minimum wages.
  • NEW POWERPOINT® SLIDES BRING LECTURES TO LIFE WHILE VISUALLY CLARIFYING CONCEPTS. Exceptional new PowerPoint® presentation slides, created specifically for this edition, help you create engaging, memorable lectures. You’ll find teaching slides for each chapter in this edition. Slides are particularly useful for clarifying advanced topics in Part 3. You can modify or customize the slides for your specific course. PowerPoint® slides are available for convenient download on the instructor-only, password-protected portion of the book’s companion website.
  • NEW SCIENTIFIC WORD® SLIDES REINFORCE TEXT CONCEPTS AND LECTURE PRESENTATIONS. Created by text author Jeffrey M. Wooldridge, new Scientific Word® slides reinforce the book’s PowerPoint® slides while highlighting the benefits of Scientific Word®, the application created by MacKichan software, Inc. for specifically composing mathematical, scientific and technical documents using LaTeX typesetting. These animated slides are based on the text author’s actual successful lectures and are available for convenient download on the password-protected section of the book’s companion website.
  • NEW UPDATED DATA SET HANDBOOK MAKES USE OF EXTENSIVE DATA SETS SIMPLE AND CONVENIENT. This unique handbook, created by author Jeffrey M. Wooldridge, lists all data sets in the latest edition of the text for quick reference. Each data set entry indicates the original source, when possible; lists where it appears in the text; and when applicable, guides you in using the data set to generate new homework exercises, exam problems, or term projects. The author also provides suggestions on improving the data sets in this detailed resource that is available on the book’s companion website.
  • NEW REVISED INSTRUCTOR’S MANUAL WITH SOLUTIONS. The Instructor’s Manual with Solutions contains answers to all exercises, as well as teaching tips on how to present the material in each chapter. The Instructor’s Manual also contains sources for each of the data files, with many suggestions for how to use them on problem sets, exams, and term papers. The Instructor’s Manual is available for convenient download on the password-protected section of the book’s companion website.
  • PRACTICAL APPLICATION PREPARES STUDENTS TO USE ECONOMETRICS IN BUSINESS TODAY. This unique, comprehensive text applies econometrics to actual real business problems, demonstrating how each method answers a particular issue facing researchers who are analyzing non-experimental data.
  • UNIQUE ORGANIZATION PIONEERED BY THE AUTHOR CLEARLY PRESENTS APPLICATIONS FOR TODAY’S STUDENTS. This comprehensive econometrics text pioneered the approach of explicitly covering cross-sectional applications first, followed by time series applications, and, ultimately, panel data applications in the advanced chapters.
  • TREATMENT OF VARIABLES ENSURES STUDENT COMPREHENSION. This book treats explanatory variables, along with the dependent variable, as outcomes of random variables.
  • EXPANSIVE DATA SETS OFFER VARIED OPPORTUNITY FOR HANDS-ON PRACTICE. This edition’s large and varied data sets in six different formats give your students practical experience working with statistics in an engaging assortment of real business situations.
  • COMPREHENSIVE COVERAGE ENSURES UNDERSTANDING IN CRITICAL AREAS OF ECONOMETRICS. This edition continues to offer trusted, comprehensive coverage with expanded discussions of both the basics and advanced applications of dummy variables; material on prediction after retransformation; expanded discussions of influential observations, weighted least squares, and least absolute deviations; and coverage of weak instruments.
1. The Nature of Econometrics and Economic Data.
2. The Simple Regression Model.
3. Multiple Regression Analysis: Estimation.
4. Multiple Regression Analysis: Inference.
5. Multiple Regression Analysis: OLS Asymptotics.
6. Multiple Regression Analysis: Further Issues.
7. Multiple Regression Analysis with Qualitative Information: Binary (or Dummy) Variables.
8. Heteroskedasticity.
9. More on Specification and Data Problems.
10. Basic Regression Analysis with Time Series Data.
11. Further Issues in Using OLS with Time Series Data.
12. Serial Correlation and Heteroskedasticity in Time Series Regressions.
13. Pooling Cross Sections across Time: Simple Panel Data Methods.
14. Advanced Panel Data Methods.
15. Instrumental Variables Estimation and Two Stage Least Squares.
16. Simultaneous Equations Models.
17. Limited Dependent Variable Models and Sample Selection Corrections.
18. Advanced Time Series Topics.
19. Carrying out an Empirical Project.
Appendix A: Basic Mathematical Tools.
Appendix B: Fundamentals of Probability.
Appendix C: Fundamentals of Mathematical Statistics.
Appendix D: Summary of Matrix Algebra.
Appendix E: The Linear Regression Model in Matrix Form.
Appendix F: Answers to Chapter Questions.
Appendix G: Statistical Tables.

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  • ISBN-10: 128552764X
  • ISBN-13: 9781285527642
  • STARTING AT $24.49

  • STARTING AT $51.49

  • ISBN-10: 1111531048
  • ISBN-13: 9781111531041
  • Bookstore Wholesale Price $243.75
  • RETAIL $324.95

“It is the best book on applied econometrics on the market. Well written and “modern” in the sense that he devotes coverage to topics and techniques relevant to the current state of practice in econometrics.”

“Hands down, the data analysis examples in the text and the practice problems are what I like most about the text. They are fantastic, and many of our Economics students list Econometrics as their favorite course because these problems allow them to apply economic reasoning to actual data.”

Cengage provides a range of supplements that are updated in coordination with the main title selection. For more information about these supplements, contact your Learning Consultant.


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ISBN: 9781305404199
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