Mastering 'Metrics

The Path from Cause to Effect

Joshua D. Angrist, Jörn-Steffen Pischke

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English

Princeton University Pres
03 March 2015

Econometrics; Mathematics & Sciences

Applied econometrics, known to aficionados as 'metrics, is the original data science. 'Metrics encompasses the statistical methods economists use to untangle cause and effect in human affairs. Through accessible discussion and with a dose of kung fu-themed humour, Mastering 'Metrics presents the essential tools of econometric research and demonstrates why econometrics is exciting and useful.

The five most valuable econometric methods, or what the authors call the Furious Five - random assignment, regression, instrumental variables, regression discontinuity designs, and differences in differences - are illustrated through well-crafted real-world examples (vetted for awesomeness by Kung Fu Panda's Jade Palace). Does health insurance make you healthier? Randomised experiments provide answers. Are expensive private colleges and selective public high schools better than more pedestrian institutions? Regression analysis and a regression discontinuity design reveal the surprising truth. When private banks teeter, and depositors take their money and run, should central banks step in to save them? Differences-in-differences analysis of a Depression-era banking crisis offers a response. Could arresting O. J. Simpson have saved his ex-wife's life? Instrumental variables methods instruct law enforcement authorities in how best to respond to domestic abuse.

Wielding econometric tools with skill and confidence, Mastering 'Metrics uses data and statistics to illuminate the path from cause to effect.

By: Joshua D. Angrist, Jörn-Steffen Pischke
Imprint: Princeton University Pres
Country of Publication: United States
Dimensions: Height: 216mm, Width: 140mm, Spine: 18mm
Weight: 340g
ISBN: 9780691152844
ISBN 10: 0691152845
Pages: 304
Publication Date: 03 March 2015
Audience: College/higher education , Professional and scholarly , Primary , Undergraduate
Format: Paperback
Publisher's Status: Active

Joshua D. Angrist is the Ford Professor of Economics at the Massachusetts Institute of Technology. Jorn-Steffen Pischke is professor of economics at the London School of Economics and Political Science. They are the authors of Mostly Harmless Econometrics (Princeton).

Reviews for Mastering 'Metrics: The Path from Cause to Effect

I would be hard pressed to name another econometrics book that can be read for enjoyment yet provides useful quantitative insights. --M.S.R., Financial Analysts Journal