RIEB Discussion Paper Series No.2022-22

Title

Machine Learning: New Tools for Economic Analysis

Abstract

This paper presents some of the key concepts for understanding machine learning. We briefly explain the basics and jargon related to machine learning and how it can be applied in economic analysis. This paper aims to reverse the impression of machine learning as a complicated technology, aid economists to become more familiar with it and start considering it as an alternative and attractive tool for new economic analysis.

Keywords

Machine learning; Data science

JEL Classification

A10, C00, C01

Inquiries

Katsuyuki TANAKA
Center for Computational Social Science (CCSS)
Research Institute for Economics and Business Administration(RIEB)
Kobe University
Rokkodai-cho, Nada-ku, Kobe
657-8501 Japan
Phone: +81-78-803-7036
FAX: +81-78-803-7059

Takashi KAMIHIGASHI
Center for Computational Social Science (CCSS)
Research Institute for Economics and Business Administration(RIEB)
Kobe University