Machine Learning in Economics… A Fad?

Over the holiday weekend (in the United States) The Economist ran an article with the title: “Economists are Prone to Fads, and the Latest is Machine Learning“. As I am currently taking a class on ‘Big Data for Economists’, this article peaked my interest. The following chart was shown to visualize some recent trends within…

Teaching Economics 101 Amidst the Empirical Revolution

Noah Smith writes in Bloomberg View, most of what you learned in economics 101 is wrong: In the last three decades, the economics profession has undergone a┬áprofound shift. The rise of information technology and new statistical methods has dramatically increased the importance of data and empirics. This means that many professional economists are no longer,…