The module deals with basic and advanced models and methods from data science/ machine learning. Students learn to apply modern methods of artificial intelligence. The focus is on applications of the methods in the field of Economics. Using the programming language Python, numerical datasets and text data are analysed and machine learning models are developed. Students learn about:

•    Complexity of models
•    Bias-variance trade-off
•    Regularisation
•    Supervised learning
•    Regression
•    Classification
•    Logistic Regression
•    Decision trees, random forests
•    Model evaluation
•    Unsupervised learning
•    K-means clustering, principal component analysis