Basic Econometrics (5th Edition)

Basic Econometrics by Damodar N. Gujarati and Dawn C. Porter is the most widely read and authoritative introductory econometrics textbook in the world. Now in its Fifth Edition, this landmark book has introduced generations of economics, finance, and social science students to the theory and practice of econometrics with unmatched clarity and depth.

The book provides a thorough and accessible treatment of econometric theory and its practical applications. Starting from the foundations of simple linear regression, the text progressively builds to cover multiple regression analysis, functional forms, dummy variables, heteroscedasticity, autocorrelation, multicollinearity, simultaneous equation models, time series econometrics, and panel data analysis. Each concept is explained with mathematical rigor balanced by intuitive interpretation, making complex statistical ideas accessible even to students with a modest mathematical background.

What truly sets Basic Econometrics apart from other textbooks is Gujarati's extraordinary ability to explain difficult concepts in plain, understandable language. Every chapter is rich with real economic data examples, empirical applications, and carefully worked problems that show students exactly how econometric methods are applied in actual economic research. The Fifth Edition has been thoroughly updated with new examples, expanded coverage of time series and panel data methods, and additional empirical exercises using modern datasets.

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