AI applications in economics (EC996).
Graduate course, MSc in Economics, Data Science and AI; University of Strathclyde; since 2026/27with D. Velivela and L. Gifuni.
Overview.
Artificial intelligence (AI) is rapidly changing how economic analysis is carried out in government, business, economic consultancy, financial markets, and the third sector. This core module of the MSc in Economics, Data Science and Artificial Intelligence demystifies the concepts behind modern AI tools, develops practical skills in using them, and applies them to economic questions. It begins with an accessible introduction to AI as automated decision-making using optimisation, deep learning, and the natural language processing (NLP) and large language models (LLMs) behind modern AI tools. It then turns to state-of-the-art applications in economics. These include AI-driven empirical macroeconomic modelling and survey forecasting, the role of AI in healthcare markets, and AI tools for solving theoretical economic models. Throughout, the module considers how AI can be applied responsibly in economic analysis and policymaking. Students work with Python and selected generative AI tools.
List of topics.
- Introduction to AI and deep learning in economics
- Text algorithms and LLMs in economics
- AI-driven empirical macroeconomic modelling and survey forecasting
- The role of AI in healthcare
- AI tools for solving theoretical economic models