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2025/2026  BA-BINBV2304U  Data in Economics and Business

English Title
Data in Economics and Business

Course information
Language English
Course ECTS 7.5 ECTS
Type Elective
Level Bachelor
Duration One Semester
Start time of the course Autumn
Timetable Course schedule will be posted at calendar.cbs.dk
Max. participants 80
Study board
Study Board of Global Relations
Course coordinator
  • Fane Naja Groes - Department of Economics (ECON)
  • Herdis Steingrimsdottir - Department of Economics (ECON)
Main academic disciplines
  • Finance
  • Statistics and quantitative methods
  • Economics
Teaching methods
  • Face-to-face teaching
Last updated on 13-02-2025

Relevant links
Learning objectives
  • Understanding how different sources of data are produced and structured (e.g. survey data, time series, individual level data, firm level data, cross section data)
  • Knowing how to work with and visualize different types of data
  • Learning the basics of programming in R
  • Critically know how to measure and quantitatively describe key economic, business and financial concepts such as stock market index, inflation, gdp, inequality, unemployment and climate measures.
  • Be able to describe data and data visualisations in a concise and clear way.
Course prerequisites
The course is offered to bachelor students in the 5th semester as an elective regardless of study line. Prior knowledge in Statistics or Econometrics is an advantage.
Examination
Data in Economics and Business:
Exam ECTS 7,5
Examination form Oral exam based on written product

In order to participate in the oral exam, the written product must be handed in before the oral exam; by the set deadline. The grade is based on an overall assessment of the written product and the individual oral performance, see also the rules about examination forms in the programme regulations.
Individual or group exam Individual oral exam based on written group product
Number of people in the group 3-4
Size of written product Max. 15 pages
Assignment type Project
Release of assignment Subject chosen by students themselves, see guidelines if any
Duration
Written product to be submitted on specified date and time.
20 min. per student, including examiners' discussion of grade, and informing plus explaining the grade
Grading scale 7-point grading scale
Examiner(s) Internal examiner and second internal examiner
Exam period Winter
Make-up exam/re-exam
Same examination form as the ordinary exam
Course content, structure and pedagogical approach

Knowing how to work with data is critical in today’s business society. This course focuses on how to obtain and process economic and business data. In the course the students will be introduced to the basics of data analysis using R programming language. It is an applied course where the focus is on working with actual economic and business data to practice both students’ programming and analytical skills. Students will learn how to create descriptive statistics, how to do data visualization and how to make inference from the data. The course will cover the following topics:

 

  • Introduction to R and fundamentals of programming
  • Data collection and how to deal with e.g. seasonality, measurement error and missing values
  • Working with different types of  Economic and Business Data (e.g. prices, money, indexes, individual level data, survey data, firm level data)
  • Visualizing the data: learning how to measure and quantitatively describe key concepts in economics and business
  • Written description of data visualizations
  • Being able to critically evaluate data and statistical results
Research-based teaching
CBS’ programmes and teaching are research-based. The following types of research-based knowledge and research-like activities are included in this course:
Research-based knowledge
  • Classic and basic theory
  • Teacher’s own research
  • Methodology
  • Models
Research-like activities
  • Development of research questions
  • Data collection
  • Analysis
  • Discussion, critical reflection, modelling
  • Activities that contribute to new or existing research projects
  • Students conduct independent research-like activities under supervision
Description of the teaching methods
Lectures, exercises and group work.
Feedback during the teaching period
Feedback will be given throughout the course in exercise classes and in office hours. There will also be optional assignments with feedback.
Student workload
Lectures and exercises 166 hours
Exam 40 hours
Last updated on 13-02-2025