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2024/2025  KAN-CEAPO2002U  Big Data Analytics for Economic and Financial Decision-Making

English Title
Big Data Analytics for Economic and Financial Decision-Making

Course information

Language English
Course ECTS 7.5 ECTS
Type Mandatory
Level Full Degree Master
Duration One Semester
Start time of the course Spring
Timetable Course schedule will be posted at calendar.cbs.dk
Study board
Study Board for OECON and ECFI
Course coordinator
  • Anders Sørensen - Department of Economics (ECON)
Main academic disciplines
  • Finance
  • Economics
Teaching methods
  • Face-to-face teaching
Last updated on 20-11-2024

Relevant links

Learning objectives
Upon completion of this course, participants will be able to:
  • Articulate and apply core concepts in big data analytics.
  • Develop proficiency in statistical methods and relevant machine learning algorithms.
  • Apply regression models, clustering, and predictive analytics to various datasets.
  • Balance theoretical understanding with practical application of statistical methods and machine learning algorithms.
  • Effectively communicate findings through data visualization to diverse stakeholders.
  • Master the art of storytelling through data visualization to clearly convey complex insights.
  • Discuss ethical issues in the use of Big Data in economics and finance.
  • Explore privacy concerns, data security, and regulatory frameworks.
  • Proactively address ethical issues and privacy concerns in Big Data.
  • Examine real-world applications in economic and finance.
Examination
Big Data Analytics for Economic and Financial Decision-Making:
Exam ECTS 7,5
Examination form Home assignment - written product
Individual or group exam Individual exam
Size of written product Max. 10 pages
Assignment type Project
Release of assignment The Assignment is released in Digital Exam (DE) at exam start
Duration Written product to be submitted on specified date and time.
Grading scale 7-point grading scale
Examiner(s) One internal examiner
Exam period Summer
Make-up exam/re-exam
Same examination form as the ordinary exam
Course content, structure and pedagogical approach

Upon completion of this course, participants will be able to:

Big Data Fundamentals:

  • Articulate and apply core concepts in big data analytics.

Statistical Techniques and Machine Learning:

  • Develop proficiency in statistical methods and relevant machine learning algorithms.
  • Apply regression models, clustering, and predictive analytics to various datasets.
  • Balance theoretical understanding with practical application of statistical methods and machine learning algorithms.

Data Visualization and Interpretation:

  • Effectively communicate findings through data visualization to diverse stakeholders.
  • Master the art of storytelling through data visualization to clearly convey complex insights.

Ethical and Privacy Considerations:

  • Discuss ethical issues in the use of Big Data in economics and finance.
  • Explore privacy concerns, data security, and regulatory frameworks.
  • Proactively address ethical issues and privacy concerns in Big Data.

Applications in Finance and Business:

  • Examine real-world applications in economic and finance.

Hands-on Projects

  • Examine real-world applications in economic and finance.

 

Upon completion, participants will possess the skills to leverage Big Data, enabling informed decisions and optimized strategies in various economic contexts.

This course explores the intersection of Big Data and Economics/Finance, highlighting the transformative role of data analytics in decision-making. Participants will gain practical insights into handling large-scale data sets, applying advanced statistical techniques, and utilizing machine learning algorithms. The course includes practical exercises ensuring hands-on experience with real-world data. Examples will illustrate how big data is used in economic analysis and applied business contexts, providing a comprehensive understanding of its applications.

Description of the teaching methods
In-class lectures with PC-based exercises.
Feedback during the teaching period
Feedback will be provided both as part of discussions in the class and of exercises.
Student workload
Exam 20 hours
Classes and Exercises 68 hours
Preparation 118 hours
Expected literature

Selected chapters from

  • James, Witten, Hastie, and Tibshirani (2023), “An Introduction to Statistical Learning with Applications in R/Python”. Second Edition, Springer Text in Statistics
  • Knaflic (2015), “Storytelling with Data – a Data Visualization Guide for Business Professionals”, Wiley
Last updated on 20-11-2024