[STA501] Data-based Decision Making

Course IDSTA501
ProgramBusiness Adminstration, Data Science
LevelBachelor, Master

The course runs through basic concepts in Microeconomics that are key frameworks in data-based decision making. With the benefit of applied statistical models widely used in microeconomics literature, such as treatment effects, diffs-and-diffs, and propensity score matching, microeconomic theories are re-accessed in terms of data analysis. Economics topics discussed will be

  • Comparative advantage
  • Consumer choice
  • Demand/Supply curve estimation
  • Diffs-and-diffs
  • Partial effect

Some of the business cases that we will apply above economics topics are

  • Hite-Jinro: Beer and spirit, are they complements?
  • Top school admission: Is it really DNA? or is it money?
  • Salary negotiation: Why my salary won’t go up?