Using Python for Introductory Econometrics

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Using Python for Introductory Econometrics

Welcome to the companion web site to the book

Using Python for Introductory Econometrics
by Florian Heiss and Daniel Brunner
ISBN: 979-8648436763

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Content and Approach

This book introduces the popular, powerful and free programming language and software package Python with a focus on the implementation of standard tools and methods used in econometrics. Unlike other books on similar topics, it does not attempt to provide a self-contained discussion of econometric models and methods. Instead, it builds on the excellent and popular textbook "Introductory Econometrics" by Jeffrey M. Wooldridge. Some other editions and versions work as well, see below. It is compatible in terms of topics, organization, terminology and notation, and is designed for a seamless transition from theory to practice. Topics include:

The chapters have the same names and cover the same material as the respective chapters in Wooldridge’s textbook. Assuming the reader is familiar with the concepts discussed there, this book explains and demonstrates how to implement everything in Python and replicates many textbook examples. We also open some black boxes of the built-in functions for estimation and inference by directly applying the formulas known from the textbook to reproduce the results. Some supplementary analyses such as Monte Carlo simulations provide additional intuition and insights.

The book is designed mainly for students of introductory econometrics who ideally use Wooldridge’s “Introductory Econometrics” as their main textbook. It can also be useful for readers who are familiar with econometrics and possibly other software packages, such as Stata. For them, it offers an introduction to Python and can be used to look up the implementation of standard econometric methods.

All computer code used in this book can be downloaded to make it easier to replicate the results and tinker with the specifications.

Note about other "Introductory Econometrics" versions

About the book

The book started as a spinn-off of the sister book Using R for Introductory Econometrics, just published as a second edition. We based this book on the R version, using the same structure, the same examples, and even much of the same text where it makes sense. This decision was not only made for laziness. It also helps readers to easily switch back and forth between the books. And if somebody worked through the R book, she can easily look up the Python way to achieve exactly the same results and vice versa, making it especially easy to learn both languages. The book is self-published and not professionally edited. Once you get over the hideous layout and appalling grammar, you can start enjoying the benefits: