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Bridging Economics and Data Science

medium.com

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Re: Bridging Economics and Data Science

#21
post #5

I have an econ/finance degree and also worked for several years in finance. Then I quit my job and learned how to code. Now I have a web app with a paying and growing customer base. Knowing how to program will give you special powers when combined with your econ background. Congrats!

Care to share your web app? I have a similar background, working in finance and learned coding, but I am still missing the step to building a web up and leaving work...

Re: Bridging Economics and Data Science

#22
When you need to study 30 plus income statements from 30 plus entities around the globe, you wonder less about the tools and more about getting it done. Then you become a "spreadsheet monkey", but that is only because nobody has been able to create a better tool since 1995.

I understand the pain of seeing people using old tech and taking hours to do tasks that should take seconds, but do not underestimate the importance of specific field knowledge and the fact that many people do not have time to learn coding. If you think about it, it is an opportunity for you to build a bridge between those 2 worlds. For example, nobody has produced yet a decent tool to consolidate financials...

Re: Bridging Economics and Data Science

#23

Like the author, I have an Economics background but have gotten into programming as I graduated from working on Excel. Economics has suffered because of a lack of good data - this is why so many explanations by economists begin with assumptions. I'm hopeful that the data sets now available will improve economic models and that people working in the public sector will put them to good use.

Economics has suffered because of a lack of good models and ignoring a great deal of available data.

Source: economics degree, research of the neoclassical / neoclassical synthesis model, its origins, and various heterodoxies. I'm partial to thermoeconomics / biophysical economics.

Re: Bridging Economics and Data Science

#24
A financial economist professor once mused that "current phd students are limited in the problems they can solve because they can't program." Of course the programming language he preferred was Fortran. :-)

Excel is the best tool for 80% of what bankers and consultants do. It can middle through the next 10%. The problem is it has just no way to do the last 10%. Either it's too slow or just can't handle the size or computations required.

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