Data science (DS) and artificial intelligence (AI) have become central to modern Economics as the discipline has shifted from theory to data and computation. Today, economists work with massive, complex datasets and study increasingly nonlinear, strategic, and dynamic systems —- areas in which Data Science, AI and Machine Learning (ML) provide powerful tools for efficiently processing high-dimensional, unstructured, and large-scale data. Data Science and AI methods improve causal inference, prediction, and forecasting. They also inspire new approaches to modeling dynamic optimization and strategic behavior.
Conversely, Economics contributes foundational ideas that shape how AI systems are designed, evaluated, and deployed. Indeed, some of the most significant concepts in contemporary AI originate from economic theory, which provides the basis for decision-making (statistical decision theory), strategic reasoning (game theory), incentive design (mechanism design), causal inference (trustworthy AI), welfare analysis (AI ethics), and behavioral modeling (human-centered AI).
Institutions