The Power of Data: How BSc (H) Economics with Data Science Prepares you for the Future

In today’s data-driven society, the ability to understand, interpret, and analyse data is pivotal to thriving and succeeding in the dynamic work industry. BSc (H) Economics with Data Science provides students with the knowledge and skills they need to navigate the growing amount of data across various sectors and make data-informed decisions. This program prepares students for a range of career opportunities in sectors such as finance, consulting, market research, government, and technology, where data-driven decision-making and economic analysis are essential. The program is designed to prepare students for the future by equipping them with a unique skill set that aligns with the evolving demands of the data-driven world.

Why pursue a BSc (H) in Economics with Data Science?

The BSc (Hons) in Economics with Data Science allows you to investigate the relationship between economics and computing in novel and inventive ways, spanning theoretical and empirical divides. The undergraduate degree focuses on:

• Economic theory
• Applied Economics
• Use of Large Datasets
• Machine Learning
• Data and Statistics

Focus on Technical Proficiency

The degree emphasises technological proficiency. Students are equipped with programming skills and familiarity with tools and techniques used in data science, such as Python, R, SQL, and data visualisation libraries. These technical skills make them adaptable to emerging technologies and enable them to leverage advanced analytics tools and platforms. The program also emphasises analytical skills and decision-making. With a strong foundation in economics and data science, students develop critical thinking and problem-solving abilities. They gain expertise in applying analytical methods to economic problems, allowing them to make informed decisions and recommendations based on data-driven insights. BSc (H) Economics with Data Science takes an interdisciplinary approach, combining economics, statistics, and computer science. They can bridge the gap between economic theory and practical data analysis applications.

AI and Machine Learning

In terms of career opportunities, the future job market will continue to demand professionals who can extract valuable insights from data and apply them to various domains. Its emphasis is on cutting-edge computational approaches for data analysis. Students gain knowledge of machine learning algorithms and predictive modelling techniques, allowing them to leverage the power of AI in economic forecasting, market analysis, risk assessment, and policy evaluation.

Ethics

BSc (H) Economics with Data Science also places a strong emphasis on ethical considerations, data privacy, and responsible data practices. This prepares students to handle sensitive data ethically, ensuring compliance with regulations and protecting individual privacy.

Financial Analysis and Risk Management

The program equips learners with skills in financial analysis, risk assessment, and investment decision-making. This knowledge is valuable in finance, banking, and investment sectors where data-driven analysis is essential for assessing risks, identifying investment opportunities, and optimising financial strategies.

Data Literacy

In an increasingly data-driven society, data literacy is essential. BSc (H) Economics with Data Science offers knowledge and skills to understand, interpret, and analyse data effectively. This prepares students to navigate the growing amount of data across various sectors and make data-informed decisions.

The field of data science is rapidly evolving, and staying updated with emerging technologies, methodologies, and best practices is essential. After completion of the graduate degree, students develop the ability to keep up with advancements, learn new tools, and embrace lifelong learning to remain competitive in the future job market. If one is inclined towards further academic pursuits, a Bachelor’s degree in Economics with Data Science can serve as a strong foundation for advanced studies in economics, data science, or related fields. It can provide a solid base for pursuing a Master’s or Ph.D. degree, enabling students to delve deeper into specific areas of interest and conduct advanced research.

The writer is Dr. Kshitiz Mishra, Assistant Professor, Economics, the School of Liberal Studies