Data Science in Economics Education: Examples and Opportunities

Nina Rizun, Maryna Nehrey, Nataliia Volkova

2020

Abstract

Data science is the field of study that involves tools, algorithms, and knowledge of maths and statistics to discover knowledge from the raw data. Data science is developing fast and penetrating all spheres of life. More people understand the importance of the science of data and the need for implementation in everyday life. Data science is used in business for business analytics and production, in sales for offerings and, for sales forecasting, in marketing for customizing customers, and recommendations on purchasing, digital marketing, in banking and insurance for risk assessment, fraud detection, scoring, and in medicine for disease forecasting, process automation, and patient health monitoring, in tourism in the field of price analysis, flight safety, opinion mining, etc. This article concerns the issue of data science tools implementation, including the Text Mining and Natural Language Processing algorithms for increasing the value of Economics Education for the development of modern and technologically flexible society. The article deeply discusses the opportunities of using Text Analytics and Topic modeling for conducting scientific studies and applying them in the educational process. Presented examples demonstrate the nature of tasks and approaches which could develop students' research skills in the public perception analysis. Such approaches also allow students to gain practical experience in the study and interpretation of the influence of additional metadata, characterizing the comments authors, on differences in their opinions about events, companies, goods, and services. Finally, the Data science study programs for economics at top-20 universities are selected and discovered.

Paper Citation

in Harvard Style

Rizun N., Nehrey M. and Volkova N. (2020). Data Science in Economics Education: Examples and Opportunities. In Proceedings of the 1st Symposium on Advances in Educational Technology - Volume 1: AET, ISBN 978-989-758-558-6, pages 550-564. DOI: 10.5220/0010926100003364

in Bibtex Style

@conference{aet20,
author={Nina Rizun and Maryna Nehrey and Nataliia Volkova},
title={Data Science in Economics Education: Examples and Opportunities},
booktitle={Proceedings of the 1st Symposium on Advances in Educational Technology - Volume 1: AET,},
year={2020},
pages={550-564},
publisher={SciTePress},
organization={INSTICC},
doi={10.5220/0010926100003364},
isbn={978-989-758-558-6},
}

in EndNote Style

TY - CONF

JO - Proceedings of the 1st Symposium on Advances in Educational Technology - Volume 1: AET,
TI - Data Science in Economics Education: Examples and Opportunities
SN - 978-989-758-558-6
AU - Rizun N.
AU - Nehrey M.
AU - Volkova N.
PY - 2020
SP - 550
EP - 564
DO - 10.5220/0010926100003364