"Essentials of Applied Econometrics gives students and professionals the tools they need to do econometric analysis in a world in which more data surround us every day and in which econometrics is put to a diversity of uses. Vivid examples and data from a variety of real-world sources are used...

In this paper we first consider alternative measures of efficiency. We explain why simple partial productivity measures are inadequate as the basis of overall measures of efficiency, and outline two alternative approaches. The first is technical efficiency - the degree to which output is...