The first edition of "Econometrics: Principles and Applications" was published thirty years ago. Over the years, there have been significant developments in the theory and practice of econometrics. In each subsequent edition, I have tried to incorporate the most important advancements in the field of econometrics. The fifth edition continues this tradition.

However, what has not changed all these years is my steadfast belief that econometrics can be taught to a beginner in an intuitive and informative way, without the need for matrix algebra, calculus, or statistics beyond the introductory level. Some of the inherently technical material has been placed in the appropriate appendix or the reader is referred to the appropriate sources. Even in this case, however, I have tried to simplify the technical material so that the reader can gain an intuitive understanding of it.

I am pleasantly surprised not only by the longevity of this book, but also by the fact that the book is widely used not only by students of Economics and Finance, but also by students and researchers in the fields of politics, international relations, agriculture, and health sciences. All these students will find the new edition with expanded topics and extensive applications very useful. In this edition, I have made even greater efforts to ensure that the real data used in the text are relevant and up-to-date. Specifically, I have added about fifteen new explanatory examples and more than thirty new exercises. I have also updated the data for about twenty-five examples from the previous edition and for more than twenty exercises. [...]

(from the book's preface)