Data insights are now a crucial part of the modern economy, influencing decision-making in both industry and government. As a result, the way that businesses, consumers, employees, and interest groups interact and make choices has changed. A new, influential economic sector has emerged, where companies collect large amounts of data and use it to create tools that enhance and simplify people's lives while also generating significant profits through targeted advertisements and subscription services.
For economists, these developments in the economy are both exciting and challenging. The significant changes in the economy present opportunities for new research and the need for fresh perspectives on the functioning, design, and regulation of markets. However, the rise of the data-driven economy also presents a challenge to economists, as the traditional tools of microeconomics, macroeconomics, and econometrics may not be sufficient to fully grasp and comprehend how the new economy functions.
The MSc in Economics and Data Analytics is a program designed for those who want to gain the in-demand skills needed in today's job market. This program, jointly offered by the UCD School of Economics and the UCD School of Mathematics and Statistics, combines knowledge of human behavior and decision-making from economics with the latest data analytics techniques, such as Data Programming, Machine Learning, and Bayesian Analysis.