Applied Econometrics with SAS®: Modeling Demand, Supply, and Risk
Supply Demand and Risk – three cornerstones of economic analysis. This book is a complete package dealing with these. Each section starts with development and motivation for the underlying model and assumptions, interpreting each in practical terms. It then moves on to interesting examples and computing. I like the fact that the reader first gains insight into the goal of the process and the situations for which it is appropriate. That should be a prerequisite to using sophisticated and powerful software like this. The reader with reasonable quantitative skills will advance not only their knowledge of SAS but also their knowledge of econometric ideas that can be applied to many different problems. To get full value from this book the reader should have some mathematical sophistication such as understanding the basic idea of partial derivatives and how to interpret them.
The text Applied Econometrics with SAS: Modeling Demand, Supply, and Risk by Barry K. Goodwin, A. Ford Ramsey, and Jan Chvosta is an excellent resource for research in demand, supply, and risk, especially as it applies to agricultural economics. In my view, it is how a reference should be written: theory, examples, code. I have never accepted the theory or applied distinction that most publishers insist on. I think that a reference text should be both, as this one is.
Professor A. Ronald Gallant
Department of Economics
Pennsylvania State University