Elements of Econometrics

Second Edition
Jan Kmenta
Out of print for years, this classic econometrics text is once again available


This classic text has proven its worth in university classrooms and as a tool kit in research—selling over 40,000 copies in the United States and abroad in its first edition alone. Users have included undergraduate and graduate students of economics and business, and students and researchers in political science, sociology, and other fields where regression models and their extensions are relevant. The book has also served as a handy reference in the "real world" for people who need a clear and accurate explanation of techniques that are used in empirical research.

Throughout the book the emphasis is on simplification whenever possible, assuming the readers know college algebra and basic calculus. Jan Kmenta explains all methods within the simplest framework, and generalizations are presented as logical extensions of simple cases. And while a relatively high degree of rigor is preserved, every conflict between rigor and clarity is resolved in favor of the latter. Apart from its clear exposition, the book's strength lies in emphasizing the basic ideas rather than just presenting formulas to learn and rules to apply.

The book consists of two parts, which could be considered jointly or separately. Part one covers the basic elements of the theory of statistics and provides readers with a good understanding of the process of scientific generalization from incomplete information. Part two contains a thorough exposition of all basic econometric methods and includes some of the more recent developments in several areas.

As a textbook, Elements of Econometrics is intended for upper-level undergraduate and master's degree courses and may usefully serve as a supplement for traditional Ph.D. courses in econometrics. Researchers in the social sciences will find it an invaluable reference tool.

NOTE: The solutions manual (Paper ISBN: 978-0-472-08476-0) is available for teachers who adopt the text for coursework. Please email umpress.title.info@umich.edu for more information.

Jan Kmenta is Professor Emeritus of Economics and Statistics, University of Michigan.

Praise / Awards

  • ". . . an excellent exposition of all basic econometric methods. The author is a master in presenting material in a simple framework and then generalizing as logical extensions of simple cases. The second edition incorporates most of the new developments, and reflects the changes in the emphasis in the theory and practice of econometrics since 1971."
    —Kajal Lahiri, Mathematical Reviews, Issue 99
  • ". . . highly recommended to beginners in applied economics or econometrics."
    —Herbert S. Buscher (Mannheim), Zentralblatt fuer Mathematik, Volume 935 (2000/10)

Product Details

  • 6 x 9.
  • 800pp.
  • 85 figures, 60 tables.
Available for sale worldwide

  • Hardcover
  • 1997
  • Available
  • 978-0-472-10886-2

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  • $90.00 U.S.