Microfit 5.0 is an interactive, menu-driven program with a host of facilities for estimating, hypothesis testing, forecasting, data processing, file management, and graphic display. It offers a variety of univariate methods, multivariate techniques for cointegration, principal components, canonical correlations and multivariate volatility modelling, and provides a large number of diagnostic and non-nested tests not readily available on other packages. The interaction of excellent graphics and estimation capabilities in Microfit 5.0 allows important econometric research to be carried out quickly and efficiently.

Microfit has been developed by 2 distingushed econometricians and provides its users with the ability to use the techniques and tests developed by them. The authors are:

• Dr Bahram Pesaran is currently a Research Consultant at Wadhwani Asset Management.
  
  He has also worked as a Research Analyst at Tudor Investment Corporation, The Bank of England, The National Institute of Economics and Social Research and The Confederation of British Industry.
• Dr Hashem Pesaran is Professor of Economics at the University of Cambridge, John Elliott Chair at the University of Southern California, and a Professorial Fellow of Trinity College, Cambridge.
• Previously he has been the head of the Economic Research Department of the Central Bank of Iran, and Professor of Economics at University of California at Los Angeles.