The Big Data revolution of the past decade is having a profound effect on economics. This data revolution is characterized by an enormous increase with respect to the three V’s: Velocity – data is created in real-time, with the availability of internet-connected devices, data is passed-on the moment it is created; Volume – 90% of all data ever created was created in the past two years; Variety – most of this data is unstructured, they come in many different formats. These V’s put all kind of new opportunities and challenges to economic analysis. It allows for better measurement, enables novel research design and allows the analysis of a broader range of economic activities and interactions. The challenges include developing the appropriate data management and programming capabilities, as well as designing creative and scalable approaches to describe and analyze large-scale and unstructured data sets. This minor will bring you in close contact to these recent developments.
The dedicated minor consists of the following courses: