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Econometric Models and Economic Forecasts
by Robert Pindyck, Daniel Rubinfeld
from McGraw-Hill/Irwin
Customer Reviews:
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Avg. Customer Rating: 3.5 / 5.0 
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muddy reading 
The notation can be hard to follow if you don't have a grasp or natural incline for statistical regression. Steps are hard to come by in some problems because too many steps are skipped for a beginner. It is almost necessary to have at least a basic statistics background before reading this.
Even though I had a background and had read ahead, I had to depend on my professor to truly understand the material at all. If your professor has an accent or goes quite fast, and if you don't have classmates you... more info
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Deceivingly more information than you think - half way between introductory and advanced 
In sum: This book is half-way in between an introductory text (i.e. Wooldridge - Introductory Econometrics) and an advanced graduate textbook (Greene - Econometric Analysis).
Wooldridge's introductory textbook is certainly better suited for a first class in econometrics. Pindyck and Rubinfeld provide an excellent complement however, particularly for mid-level graduate students. Appendices show the matrix form derivations of most estimators, and provides a treatment of the GMM estimator, neither of... more info
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Good beginners' book
This is a beginners' book, and for those, I would recommend its use, but only in addition to using it with Gujarati's. Pindyck's book is very simple and well explained. Its advantage over other books is that it is concerned with forecasting, something that other basic books do not do. It is a little bit more advanced than Gujarati's but lays between that one and Maddala's book.
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Great equations, bad explanations 
The subject of econometrics is difficult for the beginner. I have yet to encounter a text that does a great job at explaining both the concepts and the math required to be proficient in this field. I completed three courses, two undergraduate and one graduate level, for which this book was the required text. Like most of my classmates I was never able to fully comprehend the concepts behind the numbers using this text alone. Now that I have a better grasp of econometrics I will vehemently suggest that this... more info
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