- [Narrator] I'd like to get one thing straight.…When I talk about this video…and social media and economics,…I don't mean that it's about social media and marketing.…I've talked about that elsewhere.…Rather, I'm talking about how data science…connects social media and the field of economics.…Or, to use a term coined by Thomas Carlyle in 1849,…the dismal science.…So, to ask the obvious question, if that's what I mean,…then what is economics?…To give my Wikipedia definition,…economics is a social science that is concerned…chiefly with description and analysis of the production,…distribution, and consumption of goods and services.…
So, the social science of goods and services,…how they're made and distributed.…Within economics, you generally talk about two branches.…There's microeconomics, which studies the behaviors…of individuals, and firms, and making decisions…regarding the allocation of scarce resources,…the interactions among those individuals and firms.…And there's macroeconomics,…which studies the economy as a whole.…
- Examine how and why data science is applied to money.
- Interpret the benefits of algorithmic and human-in-the-loop trading.
- Evaluate how automated application reviews for loans and credit can change.
- Justify how social media can be beneficial to economics.
- Analyze the relationship between cryptocurrencies and data science.
- Interpret the ethical and technical challenges and possibilities of data science.
Skill Level Intermediate
Q: This course was updated on 05/09/2018. What changed?
A: A: We added one video on data science careers in economics, banking, and finance.