How can yet another book on finance be justified? The field is already well
served with advanced works, many of impressive technical erudition. And,
towards the other end of the academic spectrum, an abundance of mammoth texts
saturates the MBA market. For the general reader, manuals confidently promising
investment success compete with sensational diagnoses of financial upheavals to
attract attention from the gullible, avaricious or unwary.
Alas, no one can expect to make a fortune as a consequence of reading this
book. It has a more modest objective, namely to explore the economics of financial
markets, at an ‘intermediate’ level – roughly that appropriate for advanced undergraduates.
It is a work of exposition, not of original research. It unashamedly
follows Keynes’s immortal characterization of economic theory as ‘an apparatus
of the mind, a technique of thinking’. Principles – rather than assertions of
doctrine, policy pronouncements or institutional description – are the focus of
attention. If the following chapters reveal no get-rich-quick recipes, they should
at least demonstrate why all such nostrums merit unequivocal disbelief.
"Damodar Gujarati and new co-author, Dawn Porter, blend the foundations of econometrics with up-to-date research. Basic Econometrics illustrates important concepts through intuitive and informative examples and data." "The Basic Econometrics, 5e website uses periodic updates to provide students and instructors with the most current introduction to econometrics. Students can access econometric web links, data sets from the text, and additional large sample data not included in the book. Instructors will also find the solutions manual, as well as all of the text images for easy download." --Book Jacket.