"This is an introductory book for undergraduate students in economics and finance, and can be used for MBA and first-year graduate students in many fields. The 5th Edition provides students with an understanding of why econometrics is necessary and a working knowledge of basic econometric tools....

To use the generalized beta distribution of the second kind (GB2) for the analysis of income and other positively skewed distributions, knowledge of estimation methods and the ability to compute quantities of interest from the estimated parameters are required. We review estimation methodology...