Preface

This book provides an in-depth introduction to econometric methods and arose from my many years of experience in teaching econometrics for economists at Bachelor and Master level at the Vienna University of Economics and Business (WU).

There are many excellent textbooks for econometrics at various levels, but the main problem is that they are rarely read by students – and to be honest, I understand that. Therefore, in writing this book, I focused on ease of understanding and accessibility – but without losing the necessary rigor.

The fundamental approach of this book is a blend of detailed slide presentation and conventional textbook format. Emphasis is placed on clarity, with key points of arguments highlighted in bold. Additionally, bulleted lists are extensively utilized to enhance readability and structure the text effectively. This facilitates the quick identification and easier retrieval of important points.

Nevertheless, it is ensured that this clarity does not come at the expense of strictness. Theoretically significant arguments are thus elaborated in detail, while other aspects are concisely formulated.

Furthermore, as the title suggests, great emphasis is placed on solving standard problems using the software package R. The source code for all examples is openly provided, including complex graphics, and can be copied from the text and directly inserted into personal projects.

The level of this book ranges from beginners to an introductory course at the master’s level. Many mathematical proofs are presented step-by-step, making them accessible to most students, which is not often the case with many textbooks. Additionally, many proofs are conducted using matrix algebra, which is important for advanced students and also demonstrates that the use of matrix algebra significantly facilitates mathematical analysis. Mathematically oriented text can also be collapsed so that it does not interfere during presentations geared towards beginner-level audiences.

Certainly, this text may be utilized by anyone in any manner desired. I personally use it as supplementary material for my lectures. Given that at our University (WU), the book by Wooldridge (2019) is standard literature in the econometrics bachelor’s program, the text, especially regarding structure and examples in its introductory sections, closely follows this textbook. I would like to reiterate my explicit recommendation of Wooldridge’s book.

The currently published version of this text corresponds to a first edition. Thus, there may still be several typographical errors, for which I apologize in advance. However, significant substantive errors should not be present.

I wish the readers an enjoyable reading experience and hope that this text significantly facilitates an introduction to this subject matter.

# Preface {.unnumbered} This book provides an in-depth introduction to econometric methods and arose from my many years of experience in teaching econometrics for economists at Bachelor and Master level at the Vienna University of Economics and Business (WU). There are many excellent textbooks for econometrics at various levels, but the main problem is that they are rarely read by students -- and to be honest, I understand that. Therefore, in writing this book, I focused on ease of understanding and accessibility -- but without losing the necessary rigor. The fundamental approach of this book is a blend of detailed slide presentation and conventional textbook format. Emphasis is placed on clarity, with key points of arguments highlighted in bold. Additionally, bulleted lists are extensively utilized to enhance readability and structure the text effectively. This facilitates the quick identification and easier retrieval of important points. Nevertheless, it is ensured that this clarity does not come at the expense of strictness. Theoretically significant arguments are thus elaborated in detail, while other aspects are concisely formulated. Furthermore, as the title suggests, great emphasis is placed on solving standard problems using the software package R. The source code for all examples is openly provided, including complex graphics, and can be copied from the text and directly inserted into personal projects. The level of this book ranges from beginners to an introductory course at the master's level. Many mathematical proofs are presented step-by-step, making them accessible to most students, which is not often the case with many textbooks. Additionally, many proofs are conducted using matrix algebra, which is important for advanced students and also demonstrates that the use of matrix algebra significantly facilitates mathematical analysis. Mathematically oriented text can also be collapsed so that it does not interfere during presentations geared towards beginner-level audiences. Certainly, this text may be utilized by anyone in any manner desired. I personally use it as supplementary material for my lectures. Given that at our University (WU), the book by @wooldridge_Intro_Econometrics is standard literature in the econometrics bachelor's program, the text, especially regarding structure and examples in its introductory sections, closely follows this textbook. I would like to reiterate my explicit recommendation of Wooldridge's book. The currently published version of this text corresponds to a first edition. Thus, there may still be several typographical errors, for which I apologize in advance. However, significant substantive errors should not be present. I wish the readers an enjoyable reading experience and hope that this text significantly facilitates an introduction to this subject matter.