Economics and Data Science Program

Introduction

The Economics and Data Science program at EIU provides students with a comprehensive and deep understanding of applied economics and data science. The program aims to enhance students’ critical thinking skills and data analytical capabilities to evaluate economic policies, focusing particularly on efficient allocation and utilization of resources as well as policies implemented by businesses, hospitals, governments, and international organizations. Students also gain the ability to work independently and creatively, collaborate in multicultural environments, and make optimal decisions regarding economic and policy issues at various levels that are appropriate for the current social context.

Students will learn theories integrated with practical experiences and real-world applications to develop the necessary skills and qualities to become professionals, researchers, data analysts, consultants, entrepreneurs, or managers in various economic sectors such as enterprises, research institutions, government agencies.

The program is delivered entirely in English. To ensure that students meet a minimum IELTS level of 6.0 before starting the major, the EIU Language Center offers English training courses.

Program Highlights

Interdisciplinarity: In the present era of digitalization, it is imperative to digitize every economic activity to optimize resource allocation and utilization. In such a dynamic environment, managers strive to make informed and prompt decisions based on scientific evidence. Therefore, the program is designed to impart not only comprehensive knowledge of economics but also to integrate it with information technology, specifically data science. Graduates will be equipped with a unique blend of economist and data analyst mindsets and skills.
Theoretical learning with practical experience: Students are equipped with the knowledge of the three core pillars – mathematics-statistics, economics-quantitative analysis, and data science – that can be practically applied through projects with private and public sectors to solve business, local, sectoral, national, and international practical issues.
Flexibility and learning opportunities that are associated with students’ career orientation: The program is structured coherently, flexibly, and based on a credit system. Students are encouraged to select a study approach that aligns with their abilities, qualities, and professional goals. Upon finishing three years of study, students can pursue one of four concentrations: Applied Economics, International Economics, Economic Data Analysis, and Health Economics.
Up-to-date and modernity: The program is designed with references from top-tier global universities like Portland State, NUS, etc. It incorporates the latest technological advancements, software, and data analysis languages in economics. The entire program is delivered in English, enabling students to seamlessly transition to higher education institutions worldwide, and gain exposure to cutting-edge and contemporary knowledge pertaining to their respective industries and areas of specialization.

Concentration Background

Applied Economics

The Applied Economics concentration provides students with in-depth knowledge of economics that can be applied to solve problems in the modern market economy. Students will learn to use economic theories to analyze and forecast the outcomes of activities ranging from consumer behavior to complex business decisions, from emerging economies to global leaders. At the same time, with up-to-date basic and in-depth knowledge in the context of the digital economy, such as Advanced and Applied Economics, Behavioral Economics, Public Policy Analysis, Econometrics, Machine Learning, Data Preparation with Python and R in Data Science, GIS and Mapping, and Topical Data Analysis in Applied Economics, students in the Applied Economics concentration will apply their economic knowledge and quantitative analytical skills in the learning process to scientifically solve practical problems from the activities of enterprises, organizations, industries, and localities and the overall economy.

Graduates with an Applied Economics concentration can take up jobs and become Managers, Consultants, Market Research analysts, Policy Research Analysts, Aata Analysts, and Research Fellow.

International Economics

International Economics studies the economic linkages, impacts and interdependencies between countries through trade, investment, and the movement of resources across borders. At EIU, this major adopts an interdisciplinary direction to equip students with the ability to combine economic theory and data science. For instance, this major provides both basic and in-depth knowledge in the context of globalization and digital era such as: International Economics, International Trade, International Financial Economics, Econometrics, Advanced Empirical Methods for International Economics, Machine Learning, Data Description with Python, R in data science, applied GIS in analyzing topics in economics. Students graduating from International Economics at EIU will obtain a comprehensive understanding and an analytic skill set that are vital in evaluating the impacts of cross-border activities on an economy. Such understanding is necessary for both the people and policymakers in adjusting their respective behaviors and policies.

With such knowledge and skills, students graduating from this major can hold positions of manager, market analysts, and policy consultants in international trade, international investment, multinational projects, and more.

Economic Data Analysis

The Economic Data Analysis concentration equips students with the knowledge and skills necessary to analyze economic data and apply data science techniques to evaluate, support business decisions, policies, and explain economic phenomena based on evidence from data analysis. In addition to learning fundamental and advanced knowledge in economics, students who choose this concentration are equipped with up-to-date and highly applicable knowledge in the context of the digital economy such as Machine Learning, Data Description with Python, R in Data Science, Applied GIS in Economics, Big Data Analysis in Economics, Data Mining in Economics, Network Analysis, Data analysis consulting, and data analysis topics, …Therefore, students acquire competencies and methods to evaluate policies, analyze and forecast economic trends, explain economic phenomena, and analyze multidimensional relationships between companies, organizations, policymakers, and other actors in society.

Graduates of the Economic Data Analysis concentration can become managers, data analysis experts, quantitative economists, economic analysts and consultants in both public and private sectors, or pursue advanced degrees in economics or related fields.

Health Economics

The Economic Data Analysis concentration equips students with the knowledge and skills necessary to analyze economic data and apply data science techniques to evaluate, support business decisions, policies, and explain economic phenomena based on evidence from data analysis. In addition to learning fundamental and advanced knowledge in economics, students who choose this concentration are equipped with up-to-date and highly applicable knowledge in the context of the digital economy such as Machine Learning, Data Description with Python, R in Data Science, Applied GIS in Economics, Big Data Analysis in Economics, Data Mining in Economics, Network Analysis, Data analysis consulting, and data analysis topics, …Therefore, students acquire competencies and methods to evaluate policies, analyze and forecast economic trends, explain economic phenomena, and analyze multidimensional relationships between companies, organizations, policymakers, and other actors in society.

Graduates of the Economic Data Analysis concentration can become managers, data analysis experts, quantitative economists, economic analysts and consultants in both public and private sectors, or pursue advanced degrees in economics or related fields.